PUBLISHER: The Business Research Company | PRODUCT CODE: 1391150
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391150
“Decorative Concrete Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on decorative concrete market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for decorative concrete? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The decorative concrete market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Decorative concrete represents a specialized form of concrete that undergoes various treatments to enhance its aesthetic appeal, providing visually appealing and structurally sound building surfaces. This treatment involves a range of processes, including embossing, polishing, molding, texturing, etching, coloring, embedding items, and applying cementitious toppings, either individually or in combination.
Key categories of decorative concrete include stamped concrete, stained concrete, concrete overlays, colored concrete, polished concrete, epoxy concrete, and others. Stamped concrete, for instance, serves as a versatile flooring solution for both residential and commercial applications, mimicking the appearance of tiles, slate, flagstone, wood, and bricks. Its weather resistance and superior durability make it suitable for enhancing the aesthetics of various spaces, including courtyards, pool decks, residential entryways, and more. Applications span across walls, floors, pool decks, driveways, sidewalks, patios, among others, catering to both residential and non-residential sectors.
The decorative concrete market research report is one of a series of new reports from The Business Research Company that provides decorative concrete market statistics, including global market size, regional shares, competitors with a decorative concrete market share, detailed decorative concrete market segments, market trends and opportunities, and any further data you may need to thrive in the decorative concrete industry. This decorative concrete market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The decorative concrete market size has grown strongly in recent years. It will grow from $17.16 billion in 2023 to $18.02 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth observed in the historical period can be attributed to several factors, including an increased emphasis on architectural and interior design trends, the expansion of the real estate and construction industry, a rise in renovation and remodeling projects, interior design changes influenced by the pandemic, and growth in the commercial and hospitality sectors.
The decorative concrete market size is expected to see strong growth in the next few years. It will grow to $22.32 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The anticipated growth in the forecast period can be attributed to various factors, including the increasing focus on health and wellness considerations, a trend towards customization and personalization, the effects of an aging population and the promotion of universal design, the growing prevalence of e-commerce and online sales, expansion in emerging markets, and ongoing urbanization and infrastructure development. Notable trends expected in the forecast period encompass the popularity of stained and polished concrete finishes, a demand for custom textures and patterns, the use of exposed aggregate, the application of decorative concrete overlays, and a rising preference for stamped concrete in various applications.
Rapid urbanization is playing a pivotal role in driving the significant growth of the decorative concrete market. Urbanization involves the movement of people from rural to urban areas, leading to an increase in human population density in urban settings. This trend is contributing to the expanding need for residential and non-residential buildings, fueling the demand for decorative concrete. According to the United Nations Department of Economic and Social Affairs, it is projected that by 2050, 68% of the world's population, equivalent to 2.5 billion people, will reside in cities. This ongoing process of rapid urbanization is anticipated to be a key driver propelling the growth of the decorative concrete market.
The increasing pace of industrialization is expected to further boost the decorative concrete market. Industrialization involves the transformation of an economy from one primarily based on agriculture and handicrafts to one characterized by large-scale manufacturing, advanced technological infrastructure, and mass-scale production of goods. Industrialization results in a surge in construction projects, including commercial and industrial spaces, where decorative concrete, known for its durability and aesthetic versatility, is increasingly chosen for flooring and surface solutions. For example, in April 2022, industrial production in India witnessed a significant year-on-year jump of 7.1%, highlighting the momentum in industrial activities. This surge in industrialization is a driving force behind the growth of the decorative concrete market.
The emergence of 3D concrete printing technology is a transformative trend shaping the decorative concrete market. 3D concrete printing, or additive manufacturing technology, involves creating three-dimensional shapes through computer-controlled sequential layering. This technology is gaining traction in the construction industry due to its ability to reduce errors, enhance design flexibility, minimize environmental impact, and require fewer materials compared to traditional building techniques. For instance, in July 2021, Petroleum Development Oman (PDO), InnoTech, and Galfar Engineering and Contracting Company inaugurated a 3D concrete printing facility in Ghala. The adoption of 3D concrete printing technology offers a sustainable alternative to traditional construction methods by accelerating the construction process and reducing waste. This innovation is poised to play a significant role in the future growth and development of the decorative concrete market.
Major players in the decorative concrete market are actively pursuing innovations in new technologies, exemplified by products such as SikaColor, SikaCem, and SikaStamp, as part of their strategy to enhance profitability. These technologies offer a range of solutions for creating decorative concrete finishes, including stamped concrete, textured concrete, and exposed aggregate concrete. SikaColor is a premium color powdered bond breaker designed for use with SikaStamp tools. SikaCem serves as a slip-resistant additive recommended for exterior applications, while SikaStamp comprises a line of decorative concrete tools utilized to produce stamped concrete finishes. In May 2021, Sika Corporation, a US-based chemicals company, introduced SikaColor, SikaCem, and SikaStamp as part of a coordinated family of decorative concrete products developed by Sika Butterfield Color and Sika Scofield. By combining the strengths of these well-established brands, the company aims to provide architects, specifiers, builders, and homeowners with a comprehensive range of products that meet both performance objectives and design purposes. This strategic move emphasizes the commitment of major companies to continuously innovate and offer cutting-edge solutions in the competitive decorative concrete market.
In July 2021, Renovation Brands, a US-based company specializing in decor and commercial interior products, undertook the acquisition of Trueform Concrete and Blendhouse for an undisclosed amount. This strategic acquisition is geared towards fostering growth by integrating the expertise of Trueform Concrete and Blendhouse artisans. Trueform Concrete, a US-based company, is recognized for creating decorative concrete products tailored for both commercial and residential applications. This acquisition underscores the industry trend of major players expanding their capabilities and offerings through strategic acquisitions, positioning themselves for sustained growth and innovation in the decorative concrete market.
Major companies operating in the decorative concrete market include Cemex SAB de CV, HeidelbergCement AG, BASF SE, 3M Company, Sika Corporation, RPM International Inc., Sherwin-Williams Company, PPG Industries Inc., Huntsman International LLC, Ultratech Cement Limited, Boral Limited, McKnight Custom Concrete, Seacoast Concrete, The Holcim Group, Bomanite LLP, Elite Crete Systems UK Ltd., DuPont de Nemours Inc., Arkema SA, WG Wearne Limited, Vicat SA, Summit Materials Inc., U.S. Concrete Inc., Breedon Group plc, LafargeHolcim Ltd., The Euclid Chemical Company, Solomon Colors Inc., Butterfield Color Inc., Brickform SRO, Davis Colors, Increte Systems Inc., NewLook International Inc., SureCrete Design Products Inc., Ameripolish Inc., Super-Krete International Inc., Smith Paint Products, ChemSystems Inc., Engrave-A-Crete Inc., Concrete Coatings Inc., Vexcon Chemicals Inc., Proline Concrete Tools Inc.
North America was the largest region in the decorative concrete market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the decorative concrete market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the decorative concrete market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The decorative concrete market consists of sales of concrete overlays. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.