Decorative Concrete Market size to exceed $23.8 bn by 2026
Published Date: December 13, 2019 Authors: Kiran Pulidindi, Hemant Pandey
Decorative Concrete Market revenue will surpass USD 23.8 billion by 2026; according to a new research report by Global Market Insights, Inc.
Aging houses in developed nations to propel revenue generation
Growing house remodeling and renovations expenditure can directly be conjugated with increasing average house age in developed nations. Homeowners are promoted to implement substantial upgrades to improve aesthetics and rejuvenating deferred properties with improving economic conditions thereby driving the decorative concrete market growth. According to JCHS, in 2017, the home remodeling expenditure surged by more than 30% and rose to USD 424 billion from USD 278 billion in 2009.
Homeowners are increasingly investing in new and durable materials material to increase the durability and maximize the replacement time. Increasing emphasis on energy efficiency is promoting the product adoption owing to high structural strength and efficient heat & cool transferring characteristics. Continuous consumer transition towards DIFM for building structures and finishing is positively influencing the industry size.
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Low maintenance requirement to enhance exposed concrete penetration
The exposed concrete segment will account for significant decorative concrete market share owing to ruggedness and low maintenance requirements. Exposed concrete is experiencing upsurge adoption in commercial and residential building projects with earthly and hard-wearing appearance. Further, increasing implementation of rustic and organic accents in architecture will drive the product demand. For instance, in June 2019 Candalepas Associates completed a mosque with extensive use of exposed concrete indoors and outdoors.
Browse key industry insights spread across 395 pages with 483 market data tables & 18 figures & charts from the report, “Decorative Concrete Market Size By Products (Exposed [Quartz, Basalt, Granite], Stamped, Polished, Engraved, Stained), By Application (Walls, Floors, Patios), By End-user (Residential, Non-residential), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:
Stamped concrete to support the patios segment
The patios segment will register highest gains of 7% CAGR owing to the high usage of stamped concrete in outdoor spaces. Stamped concrete is available in multiple design patters and customizable options and are preferably used to enhance the visual appeal through personalized and conventional design patters. Superior durability and weather resistance provided by epoxy patio coatings will further expand the product volume share.
Increasing urbanization remains forefront growth engine
Residential is the dominant segment contributing to the growth for decorative concrete market and is anticipated to showcase continual growth trend during the forecast time period. Growing urbanization and increasing development in commercial infrastructure is supporting the product adoption with rise in public and private investments. Residential sector is set to experience exponential growth with rapidly urbanizing population in emerging countries including China and India.
China to ensure Asia Pacific dominance
Asia pacific decorative concrete market value led by China will witness strong growth owing to largescale infrastructural developments and construction activities. The countries are experiencing massive ongoing structural changes with large scale rural to urban shift in population. The China National Urbanization Plan on New Urbanization (CNUPNU) has taken several steps to increase urban population and is anticipated to achieve 60% urbanization rate by 2020.
Decorative concrete market players opting for strategic investments for portfolio expansion
The industry participants are making strategic investments to enhance product offerings and serve larger consumer base. For instance, in August 2019, Cemex announced investment of USD 1.2 million in new ready-mix concrete plant in Bramshill, UK. This new plant will feature enhanced production output and enables manufacturing of diverse specialty concrete products.