Home > HVAC & Construction > Decorative Concrete Market
Decorative Concrete Market size valued at USD 15.3 billion in 2021 and is estimated to exhibit around 5.9% CAGR from 2022 to 2028. The aesthetic properties of decorative concrete along with the ability to withstand tough traffic loads and rough environmental conditions are key growth enabling elements of the industry.
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The rising spending on architecturally designed buildings is boosting the number of renovation & remodeling projects, which in turn, are fueling the consumption of decorative concretes across the globe. The decorative concrete industry is anticipated to grow faster in the next few years as a result of targeted investments in residential & commercial infrastructure development by various government entities in emerging economies. For instance, according to ICRA, rural housing developments and expanding infrastructure activities are likely to spur the overall cement production in India by 12% to 332 metrics tons in 2022.
Report Coverage | Details |
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Base Year: | 2021 |
Market Size in 2021: | USD 15,309.3 Million |
Forecast Period: | 2022 to 2028 |
Forecast Period 2022 to 2028 CAGR: | 5.9% |
2028 Value Projection: | USD 22,948.2 Million |
Historical Data for: | 2018 to 2021 |
No. of Pages: | 350 |
Tables, Charts & Figures: | 516 |
Segments covered: | Product, Application, End-user, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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The decorative concrete market is poised to observe substantial growth through 2028 due to the growing adoption of polished concrete, which accounted for over 18% share in 2021. Furthermore, the simplicity of cleaning and availability of a wide range of colors & designs are assisting product penetration in the market, consequently increasing the market size.
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The decorative concrete market from floor application accounted for roughly USD 8.5 billion in revenue in 2021. The floors segment is set to maintain its dominance owing to factors such as the increasing use of polished & engraved concrete in retail establishments and hospitality complexes. Home renovation & remodeling operations along with growing trend among consumers to convert existing floors into works of art will extend the segment size.
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The decorative concrete sector is fueled by an increase in commercial renovation & remodeling activities. As a result, the non-residential category is slated to capture a significant portion of the entire market by 2028 with nearly 5.6% gains. Constant modification & expansion by hoteliers to showcase their customer base and improve their customer experience are contributing to the rising demand for decorative concretes.
Asia Pacific decorative concrete market is poised to hold about 35% of the revenue share by 2028. Infrastructural developments in line with large-scale shifts from rural to urban areas in various countries are influencing regional market demand. Moreover, China is the leading consumer of decorative concretes in the region owing to large-scale construction projects and growing spending on architectural residential spaces. However, numerous steps adopted by the China National Urbanization Plan on New Urbanization (CNUPNU) body to augment the urban population in the coming years will further provide a new growth engine to the regional market.
Some of the prominent players in the market include WG Wearne Limited, Summit Materials, Vicat, U.S. Concrete, Inc., Breedon Group plc, UltraTech Cement Ltd., CEMEX S.A.B. de C.V., Boral, HeidelbergCement AG, and LafargeHolcim Ltd., among others.
To strengthen the position, companies are implementing various strategies. For instance, in July 2021, LafargeHolcim Ltd. acquired Firestone Building Products, a division of Bridgestone Americas to position itself as a leading provider in the commercial roofing & building industry. The acquisition will further help the company to expand its footprint in Europe and Latin America. Hence, in the coming years, such measures will boost the company's growth.
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Market, by Product
Market, By Application
Market, By End-user
The above information is provided on a regional and country basis for the following: