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Market Overview
The decorative concrete market is expected to grow at a CAGR of above 6% during the forecast period of 2019 – 2024. The major factors driving the growth of market studied are the increasing demand for remodeling & refurbishment activities, strong demand for stamped concrete for flooring, and the growing demand for green buildings. On the flipside, high capital expenditure serves as one of stumbling block in the growth of the studied market.
- Stamped concrete segment dominated the market in 2018 and is likely to grow during the forecast period, with growing demand from the residential sectors, especially in Asia-Pacific.
- Incorporation of nanotechnology in the production process is likely to provide opportunities for the studied market during the forecast period.
- Europe dominated the market across the globe, where the growth of the studied market is driven by the increasing refurbishment and remodeling activities in the region, with steady recovery from the economic slowdown.
Key Market Trends
Residential Segment to Dominate the Market Demand
- The trend of using decorative concrete in residential homes and buildings have led to the growth in demand for decorative coatings market across the globe.
- The global construction industry grew by about 3.5% during 2018, fueled by the increasing public and private investment into the sector.
- Asia-Pacific has been witnessing strong growth in the residential construction in countries such as India, China, Philippines, Vietnam, and Indonesia, which is further likely to increase the demand for decorative concrete for residential application during the forecast period.
- The increase in middle-class population, coupled with their increasing disposable income, has facilitated the expansion in the middle-class housing construction activities in the region, which further drives the demand for decorative concrete market.
- Besides, the residential construction is also strong in North America, due to high housing demand due to growing population demand for homes, and trend of nuclear families, which is further projected to drive the demand for decorative concrete market during the forecast period.
- Besides, Europe has been witnessing healthy recovery of construction activities, which is expected to further increase the demand for decorative concrete in the years to come.
Europe Region to Dominate the Market
- Europe region dominated the global market share in 2018. After years of economic slowdown, the economies in the region have started recovering, which has also been positively influencing the construction industry in the region.
- The countries, such as Germany, United Kingdom, France, and Spain have witnessed noticeable recovery in construction activities since 2017, and is likely to continue in the coming years as well.
- Due to the growing demand for houses, the government in various countries have allocated budget for housing construction, which have been boosting the construction activities in the region.
- Housing construction has been increasing significantly in these countries, which is driving the growth of construction industry, and thereby the demand for decorative concrete.
- The renovation and remodeling of old infrastructure is further adding to the demand for decorative concrete in the region.
- Besides, the market is further expected to grow at a good pace, with key European companies investing in the incorporation of nanotechnology for additives and other ingredients, which are added to cement in the production process. The market is expected to open new avenues during the forecast period.
Competitive Landscape
The decorative concrete market is a fragmented market, where numerous players hold insignificant share of the market demand to affect the market dynamics individually. Some of the noticeable players in the market include BASF SE, PPG Industries, Inc., RPM International Inc., Sika AG, and The Sherwin-Williams Company, amongst others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
The decorative concrete market is expected to grow at a CAGR of above 6% during the forecast period of 2019 – 2024. The major factors driving the growth of market studied are the increasing demand for remodeling & refurbishment activities, strong demand for stamped concrete for flooring, and the growing demand for green buildings. On the flipside, high capital expenditure serves as one of stumbling block in the growth of the studied market.
- Stamped concrete segment dominated the market in 2018 and is likely to grow during the forecast period, with growing demand from the residential sectors, especially in Asia-Pacific.
- Incorporation of nanotechnology in the production process is likely to provide opportunities for the studied market during the forecast period.
- Europe dominated the market across the globe, where the growth of the studied market is driven by the increasing refurbishment and remodeling activities in the region, with steady recovery from the economic slowdown.
Key Market Trends
Residential Segment to Dominate the Market Demand
- The trend of using decorative concrete in residential homes and buildings have led to the growth in demand for decorative coatings market across the globe.
- The global construction industry grew by about 3.5% during 2018, fueled by the increasing public and private investment into the sector.
- Asia-Pacific has been witnessing strong growth in the residential construction in countries such as India, China, Philippines, Vietnam, and Indonesia, which is further likely to increase the demand for decorative concrete for residential application during the forecast period.
- The increase in middle-class population, coupled with their increasing disposable income, has facilitated the expansion in the middle-class housing construction activities in the region, which further drives the demand for decorative concrete market.
- Besides, the residential construction is also strong in North America, due to high housing demand due to growing population demand for homes, and trend of nuclear families, which is further projected to drive the demand for decorative concrete market during the forecast period.
- Besides, Europe has been witnessing healthy recovery of construction activities, which is expected to further increase the demand for decorative concrete in the years to come.
Europe Region to Dominate the Market
- Europe region dominated the global market share in 2018. After years of economic slowdown, the economies in the region have started recovering, which has also been positively influencing the construction industry in the region.
- The countries, such as Germany, United Kingdom, France, and Spain have witnessed noticeable recovery in construction activities since 2017, and is likely to continue in the coming years as well.
- Due to the growing demand for houses, the government in various countries have allocated budget for housing construction, which have been boosting the construction activities in the region.
- Housing construction has been increasing significantly in these countries, which is driving the growth of construction industry, and thereby the demand for decorative concrete.
- The renovation and remodeling of old infrastructure is further adding to the demand for decorative concrete in the region.
- Besides, the market is further expected to grow at a good pace, with key European companies investing in the incorporation of nanotechnology for additives and other ingredients, which are added to cement in the production process. The market is expected to open new avenues during the forecast period.
Competitive Landscape
The decorative concrete market is a fragmented market, where numerous players hold insignificant share of the market demand to affect the market dynamics individually. Some of the noticeable players in the market include BASF SE, PPG Industries, Inc., RPM International Inc., Sika AG, and The Sherwin-Williams Company, amongst others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
