Decorative concrete is a form of concrete used to enhance a structure's appearance. The use of a range of materials, which can be added during the pouring process or after the concrete has been cured, transforms ordinary concrete into Decorative Concrete.
The pandemic is predicted to have an influence on the global decorative concrete industry in 2020-2021. As a result of COVID-19, the decorative concrete industry is predicted to have a small reduction in demand in 2020. Furthermore, the COVID-19 is hindering the market because to slower raw material production, hindered trade movements, supply chain disruption, decreased construction demand, and lower demand for new projects.
The value of the Decorative Concrete market is projected to grow to USD 24.18 Billion with an estimated CAGR of 6.2% by 2028
Stamped concrete is expected to have the largest market share
Different varieties of concrete include polished concrete, stamped concrete, concrete overlays, stained concrete, coloured concrete, and others. Because it is great for outdoor applications and is widely used to enhance pool decks, courtyards, driveways, and patios, stamped concrete is predicted to have the biggest market share.
The Floor segment is likely to have the greatest share
Because of their properties such as lifespan, longevity, durability, aesthetic appearance, and low maintenance, floors are expected to have the highest CAGR over the forecasted period.
The non-residential segment is expected to account for the largest share
Based on end-user, the market is split into Residential and Non-residential sectors. The non-residential category is predicted to make up the majority of the market. These variables are responsible for Decorative Concrete's aesthetic appeal, durability, and high-performance capabilities.
North America will hold the maximum share of the market.
Because of the use of decorative and aesthetic appeal flooring systems in residential applications and technological advancements in the building & construction industry in this region, North America will hold the largest share of the market.
Concrete design is becoming increasingly popular for concrete patios, concrete floors, entryways, countertops, and other applications.
For horizontal and vertical surfaces, ornamental concrete such as stamped, integrated, textured, micro-toppings, form liners, stencil, engraved, diamond-polished, and other varieties are utilized. Demand for Decorative Concrete is predicted to rise as the building sector expands. The rising popularity of green building concepts, as well as rising urbanization, is expected to drive the Decorative Concrete Market in the coming years. In addition, the rising adoption of Decorative Concrete in the residential and non-residential sectors, as well as growth in the construction of new residential and commercial spaces, is expected to drive the market in the coming years. Furthermore, the demand for long-lasting, strong, and low-maintenance flooring systems is expected to drive market growth.
Furthermore, expanding commercial building renovation activities and rising individual disposable income are likely to give profitable market growth possibilities. Market expansion can be stymied by a number of limits and problems. The decorative concrete market is estimated to increase at a CAGR of more than 6% over the forecast period. The market's expansion is being fueled by rising need for remodelling and refurbishing activities, high demand for stamped concrete for flooring, and rising demand for green buildings. High capital expenditure, on the other hand, is one of the market's obstacles to expansion.
Due to rising demand from the residential sectors, notably in Asia-Pacific, the stamped concrete segment led the market and is likely to rise throughout the projection period. The introduction of nanotechnology into the production process is projected to give chances for the studied industry throughout the forecast period.
The decorative concrete industry is predicted to rise considerably in the future because to growing demand in commercial and residential building. Over the forecast period, the decorative concrete market is predicted to develop due to the building of new residential and commercial spaces, as well as an increase in demand for durable, sturdy, and low-maintenance flooring solutions. Over the projected years, the increased acceptance of green building ideas, increasing urbanization, and the need for durable, sturdy, and low-maintenance flooring solutions are likely to drive the Decorative Concrete Market. The study on the Global Decorative Concrete Market provides a thorough examination of the market. The research examines major segments, trends, drivers, constraints, the competitive landscape, and other significant market aspects in depth.
The increased need for stamped concrete, especially for hotel flooring and other commercial structures is one of the main reasons for the rise in demand. This is owing to stamped concrete's several advantages, including its resistance to skidding, aesthetic appeal to floors, and wear and tear caused by intensive foot traffic. Demand is predicted to increase significantly throughout Asia Pacific, as well as the Middle East and Africa. As a result of large investments in housing constructions and increasing industrialization in these areas' developing countries, stamped concrete demand is predicted to expand. Stamped concrete improves a business's or facilities visual appeal, which will drive up demand in the future years.
The costs of raw materials and energy used in decorative concrete manufacturing are variable, and this tendency is projected to continue over the projection period. The price volatility of petroleum and crude oil may cause raw material costs to rise, affecting the cost of ornamental concrete coatings, cement, adhesives, colour pigments, and sealants. As a result, the price of ornamental concrete is directly affected by the cost of these components. Vendors raise the price of their products or lower their profit margins when the cost of raw materials rises, which has a negative influence on market growth.
Decorative concrete demand would rise during the projection year due to an increase in non-residential remodelling and restoration projects. In addition, hotel and resort owners are modernizing existing structures in order to expand their client base and improve the lodging experience. JW Marriott, for example, launched a new hotel in Canberra (Australia) in September 2019, with cutting-edge design highlights and polished concrete flooring that adds to the floors' aesthetic attractiveness. The usage of decorative concrete is likely to rise as industry participants in the retail and residential building sectors increase their spending.
RPM International Inc., 3M Company, E.I. du Pont de Nemours and Company, PPG Industries, Inc., The Sherwin-Williams Company, BASF SE, Huntsman International LLC, Boral Limited, CEMEX, Sika AG, S.A.B. de C.V., and others will be included in the "Global Decorative Concrete Market" study report.
Cemex is a multinational corporation that sells construction materials in over 50 countries around the world. They offer a wide range of concrete products, including cement, aggregates, and ready-mix concrete, as well as building solutions such as green building construction using environmentally friendly materials and designs.
- Arkema strengthened Bostik by acquiring Ideal Work, a decorative flooring technology company, in September 2020. This project fits in with Arkema's targeted adhesives growth strategy, which is based on cutting-edge technologies that perfectly complement Bostik's current construction offering. Bostik will be able to expand its offering and position itself in a niche market in flooring renovation and decoration thanks to Ideal Work's solutions, which complement existing ranges in the field of floor preparation. Flooring adhesives will allow Bostik to expand its offering and position itself in a niche market in flooring renovation and decoration.
- PPG Industries acquired Tikkurila, a finish paint and coatings manufacturer, in December 2020. The transaction is expected to close in the second quarter of 2021. Tikkurila's has strong and established ornamental trademarks and product offers in various Northern and Eastern European nations where PPG has a small presence. PPG Industries expects to gain new cross-selling opportunities, employee growth opportunities, and product solutions for new segments and customers as a result of this acquisition.
- CEMEX will launch Vertua, a low-carbon ready-mix concrete brand, in the United States in December 2020, following successful launches in Mexico and Europe.
Decorative Concrete Market Scope
|Revenue forecast in 2028
|USD 24.18 Billion
|CAGR of 6.2 % during 2018-2028
|by Product, By Application, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Sika AG (Switzerland), LafargeHolcim Ltd (Switzerland), Boral Limited (Australia), Deco-Crete, LLC (U.S.), Bomanite India (India), BASF SE (Germany), HeidelbergCement AG (Germany), Mcknight Custom Concrete, Inc.(U.S.), Seacoast Concrete (U.S.)
Type Overview (USD Billion)
- Stamped Concrete
- Stained Concrete
- Concrete Overlays
- Colored Concrete
- Polished Concrete
Application Overview, (USD Billion)
- Driveways & Sidewalks
- Pool Decks
End-User Overview, (USD Billion)
Geographical Overview, (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa