The Global Decorative Concrete Market accounted for US$ 15,248 Mn in 2021 and is expected to reach US$ 25,651 Mn by 2030 with a considerable CAGR of 6.1% during the forecast timeframe of 2022 to 2030.
The growing acceptance of green construction concepts, expanding urbanization, and the desire for long-lasting, robust, and low-maintenance flooring solutions are expected to drive the Decorative Concrete Market throughout the forecast period. Decorative concrete is the use of concrete to increase the aesthetics of a structure rather than as a practical medium for development, such as walls, floors, roadways, and patios, while nevertheless serving as an inherent component of the structure itself.
Decorative concrete is a type of concrete. Instead of the monotonous, functional, gritty grey appearance that planners are used to, this appealing kind of concrete can be imbued with a number of forms and styles to provide eye-catching appeal to whatever it is being used for. Decorative concrete adds aesthetic interest to a home both inside and out, with a wide range of colors, textures, and other design elements to choose from. Decorative concrete allows designers to mimic genuine materials at a lower budget and is far more affordable than stones such as granite and marble. Furthermore, ornamental concrete is employed for more than just aesthetic purposes. A building with greater thermal inertia on the inside of its insulating materials may have lower utility expenses than one without.
· Increasing remodeling and renovation activity
· Increasing tourist activity and investment in the hospitality industry
· Rising infrastructure development and building activity
· Increasing political stability and the presence of key industry players
· Environmental considerations related to ornamental concrete production
· Architectural trends that are changing
· Consumer preference for alternatives
· Improvements in government reforms and an increase in foreign investment
|Market||Decorative Concrete Market|
|Market Size 2021||US$ 15,248 Mn|
|Market Forecast 2030||US$ 25,651 Mn|
|CAGR||6.1% During 2022 - 2030|
|Analysis Period||2018 - 2030|
|Forecast Data||2022 - 2030|
|Segments Covered||By Product, By Application, By End-user, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||WG Wearne Limited, Vicat, Summit Materials, U.S. Concrete, Inc., UltraTech Cement Ltd., Breedon Group plc, CEMEX S.A.B. de C.V., HeidelbergCement AG, Boral, LafargeHolcim Ltd., Huntsman International LLC, and The Sherwin Williams Company.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
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Decorative Concrete Market Dynamics
The primary factors driving the market's growth are the increasing need for remodeling and refurbishment activities, the fierce rivalry for stamped concrete for floors, and the growing desire for green buildings. On the other hand, excessive capital expenditure is one of the barriers to the expansion of the researched market. The incorporation of nanotechnology into the production process is projected to provide opportunities for the explored industry throughout the forecast period. The global decorative concrete market is expected to grow throughout the forecast period. Several significant factors, such as rising residential and commercial projects, consumer per capita expenditure, and the continuously evolving building industry, may fuel the expansion of decorative concrete.
Market Segmentation of Decorative Concrete Market
The global decorative concrete market segmented into product, application, end-user, and region.
Market by Product
· Stamped Concrete
· Concrete Overlays
· Stained Concrete
· Colored Concrete
· Epoxy Concrete
· Polished Concrete
Based on the product, the stamped concrete segment is projected to be suited for future market expansion in the coming years. Stamped concrete is a very creative and unique concrete product that is often used for flooring in patios, driveways, automobile porches, and sidewalks. Stamped concrete ornamentation not only strengthens the surfaces but also adds a nice look. The stamped concrete remains upright where interlocking landscaping, pricey granites, and walkways are used. Furthermore, due to its properties, it is commonly used in the residential sector for new construction or renovation. It offers a large range of things with specific designs or colors. It's fantastic for the outdoors and is commonly used to spruce up driveways, pool decks, courtyards, and patios.
Market by Application
In terms of application, the floor segment will hold the largest market share in 2021. Decorative concrete floors are a fantastic alternative to carpet, tile, wood, stone, linoleum, or marble flooring. Due to factors such as the increasing use of polished and engraved concrete in retail companies and hospitality complexes, the category of the floor is projected to maintain its dominance. Decorative concrete can replace typical flooring solutions such as tiles and plywood due to its permanence, endurance, and resilience. The floor's visually beautiful appearance, combined with the ease of maintenance of decorative concrete, makes it appealing for flooring purposes. Concrete can be stained in practically any color, resurfaced with a wide variety of types and patterns, or finished to look smooth and shiny. Concrete flooring is also long-lasting, durable, and easy to repair and maintain.
Market by End-user
In terms of end-user, non-residential had the largest market share in 2021. This growth can be due to the factors that contribute to Decorative Concrete's visual appeal, durability, and high-performance capabilities. Decorative concrete is perfect for patios, driveways, and walkways. The durability, overall appearance, and high-performance characteristics of decorative concrete are driving growth in the non-residential market. The ongoing modification and growth of hoteliers in order to display their new consumer base and improve their customer experience is contributing to the rising demand for decorative concrete.
Decorative Concrete Market Regional Overview
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa
In 2021, the North American area held the highest market share. Technological advancements in the architecture and construction industries are propelling the development of the decorative concrete market in North America. The use of ornamental and aesthetically pleasing flooring systems in domestic applications has been a major driver of the decorative concrete market. Furthermore, the decorative concrete market in North America is expected to grow significantly due to an increase in commercial projects as well as residential remodeling and renovation activities. Furthermore, the increasing average age of residences is expected to drive the expansion of the decorative concrete market in the region in the forthcoming years.
Some of the prominent players in global decorative concrete market are WG Wearne Limited, Vicat, Summit Materials, U.S. Concrete, Inc., UltraTech Cement Ltd., Breedon Group plc, CEMEX S.A.B. de C.V., HeidelbergCement AG, Boral, LafargeHolcim Ltd., Huntsman International LLC, and The Sherwin Williams Company.
The estimated value of global decorative concrete market in 2021 was accounted to be US$ 15,248 Mn.
The projected CAGR of decorative concrete during the analysis period of 2022 to 2030 is 6.1%.
The prominent players of the global decorative concrete market involve WG Wearne Limited, Vicat, Summit Materials, U.S. Concrete, Inc., UltraTech Cement Ltd., Breedon Group plc, CEMEX S.A.B. de C.V., HeidelbergCement AG, Boral, LafargeHolcim Ltd., Huntsman International LLC, and The Sherwin Williams Company.
North America held the dominating share for decorative concrete during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for decorative concrete during the analysis period of 2022 to 2030.
Increasing remodeling and renovation activity, as well as a tourist activity and investment in the hospitality industry are the prominent factors that fuel the growth of global decorative concrete market.
Based on end-user, non-residential segment held the maximum share for decorative concrete market in 2021.