The report “Decorative Concrete Market by Type (Stamped, Stained, Colored, Polished, Epoxy Coating, Concrete Overlays), Application (Floors, Driveways & Sidewalks, Walls, Patios, Pool Decks), End-use Sector, and Region – Global Forecast to 2022”, The decorative concrete market size is projected to grow from USD 9.26 Billion in 2017 to reach USD 12.78 Billion by 2022, at a CAGR of 6.66%.
The global decorative concrete market is witnessing a growth in demand, owing to the rise in renovation & remodeling activities, growth in interest of consumers toward interior decoration, and rapid urbanization & globalization. The growth in demand from the residential industry also provides an opportunity for market growth, especially in the emerging Asia-Pacific and Middle Eastern & African regions.
Stamped concrete segment, by type, to gain maximum share during the forecast period
The stamped concrete segment is projected to account for the largest share by 2022, mainly due to new residential construction and commercial projects that are increasingly adopting stamped decorative concrete. Decorative concrete is lucrative for several reasons such as aesthetic enhancement, improvement of indoor air quality, and skid resistance. The high demand and rapid growth of stamped concrete are supported by its easy installation and higher strength. The growing construction industry also provides an opportunity to the market to grow further.
The floors segment is projected to grow at the highest CAGR during the forecast period
Decorative concrete finds application in floors, walls, patios, driveways & sidewalks, and pool decks. The floors segment is projected to grow at the highest CAGR during the forecast period. The high demand can be attributed to the various benefits it offers to the floors. Decorative concrete improves the aesthetic appeal of the floors as various textures, designs, patterns, and logos can be imparted to it. Decorative concrete is skid-resistant and has high strength which can withstand heavy foot traffic, thereby increasing its demand in floors.
Europe is accounted for the largest share of the decorative concrete market in 2016
On the basis of region, the decorative concrete market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The European market accounted for the largest share among all regions in 2016, in terms of value. However, the growth in the region is projected to trail behind the global average. Germany accounted for the largest market share in the European region in 2016, followed by France. The U.K. is projected to register the highest growth in Europe during the forecast period due to the upsurge of housing activities in the country. The European market has been a leader with respect to product innovation, in terms of quality and application development.
The major players include BASF SE (Germany), PPG Industries, Inc. (U.S.), 3M Company (U.S.), E.I. du Pont de Nemours and Company (U.S.), RPM International Inc. (U.S.), Huntsman International LLC (U.S.), The Sherwin-Williams Company (U.S.), Boral Limited (Australia), CEMEX, S.A.B. de C.V. (Mexico), Sika AG (Switzerland), and UltraTech Cement Limited (India). Companies adopted strategies such as acquisitions and expansions to cope with the increase in demand in the emerging markets.