Decorative Concrete Market Size & Share, by Type (Stamped Concrete, Polished Concrete, Concrete Overlay, Stained Concrete, Colored Concrete, Concrete Dye); End-user Industry (Residential, Non-Residential); Application (Floors, Driveways & Sidewalks, Walls, Patios, Pool Decks) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 4831
  • Published Date: Oct 03, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024- 2036

Decorative concrete market size is expected to reach USD 53 Billion by the end of 2035, growing at a CAGR of 8.90% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of decorative concrete was USD 19 Billion. The market's expansion can be attributable to the increase in architectural building construction. This could be a result of people's increasing taste for architecturally designed homes and an increase in the middle class's population in urban areas. For instance, more than 26% of India's middle class presently were residing in the 63 largest cities in India in 2022. Also, they were producing about 28% of the nation's disposable income, which increases demand for goods and services and stimulates the economy. Hence, this factor is estimated to boost the demand for decorative concrete.

There is prompting adaptations in the living arrangements of middle-class society to match evolving lifestyle preferences. These middle-class areas now feature diverse styles and atmospheres due to social progress. To economize and make a living more affordable, middle-class individuals have shifted away from traditional construction methods. Additionally, the increasing number of architectural innovations is expected to contribute to market growth in the foreseeable future. For instance, as of 2022, there were approximately 1,16,077 architects in India, and this number keeps rising.


Decorative Concrete Market
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Decorative Concrete Market: Growth Drivers and Challenges

Growth Drivers

  • Residential & Commercial Renovations - Renovation and remodeling projects often require the use of materials that can both enhance the aesthetic appeal of the space and provide cost-effective solutions. Decorative concrete has emerged as a popular choice for these projects due to its versatility, durability, and affordability. In the US in 2020, a household spent more than USD 13,000 on renovations on average, and around 50% of respondents said they had renovated their homes
  • Increasing Construction Activity-Growth in the construction industry, both residential and commercial, drives the demand for decorative concrete as property owners seek attractive and durable flooring and paving solutions. From 2002 and 2021, the value of public residential construction investments increased significantly in the US. In residential development projects in 2021, the public sector made an estimated 10 billion USD in investments.
  •  Technological Advancements: In recent years, decorative concrete has experienced a surge in popularity, owing to the advancements in technology and the application techniques employed in its creation. This has opened up a world of design possibilities, enabling individuals to create unique and intricate patterns that were previously impossible to achieve. Additionally, the improved quality of decorative concrete means that it is now more durable and long-lasting than ever before, making it a fantastic choice for a range of different applications.

Challenges

  • Volatility in Prices for Raw Material - The cost of producing decorative concrete is affected by fluctuating energy and raw material prices. This could lead to an increase in the overall cost of decorative concrete, as coatings, pigments, cement, adhesives, and sealants are all affected. Vendors may respond by raising prices or reducing profit margins, which could negatively impact decorative concrete market growth.
  • Lack of Awareness Among People Regarding Decorative Concrete
  • Difficult to Repair Decorative Concrete  

Decorative Concrete Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~8.90%

Base Year Market Size (2023)

~ USD 19 Billion

Forecast Year Market Size (2036)

~ USD 53 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Decorative Concrete Segmentation

Type (Stamped Concrete, Polished Concrete, Concrete Overlay, Stained Concrete, Colored Concrete, and Concrete Dye)

Decorative concrete market from the stamped concrete segment is expected to have significant growth over the forecast period. Given its outstanding resistance to traffic, stamped concrete is one of the most resilient floor coverings available. This is the reason why this material is so popular for covering streets, parks, garages, and residential area entrances. Also, it could tolerate ongoing temperature variations and UV radiation as a decorative covering. It adjusts to various weather conditions, including frost. Also, stamped concrete may be installed quickly and easily.

End-User Industry (Residential, and Non-Residential)

The non-residential segment is anticipated to garner the highest revenue by the end of 2036 accounting for 60% share of the decorative concrete market. The growth of the segment can be attributed to growing spending on non-residential construction activities. Spending on nonresidential building construction was anticipated to increase by about 4% in 2022 and then further to approximately 5% in 2023.

Our in-depth analysis of the global decorative concrete market includes the following segments:

          Type

  • Stamped Concrete
  •  Polished Concrete
  •  Concrete Overlay
  •  Stained Concrete
  •  Colored Concrete
  •   Concrete Dye

 

          End-User Industry

  • Residential
  •  Non-Residential

          Application

  • Floors
  • Driveways & Sidewalks
  • Walls
  • Patios
  • Pool Decks

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Decorative Concrete Industry - Regional Synopsis

North American Market Forecast

The decorative concrete market in North America, amongst the market in all the other regions, is projected to have the highest growth accounting 30%, backed by growing presence of key players in this region, along with surge in investment by regional governments in order to construct commercial buildings. There has been rising urban population in this region which is also estimated to boost the market growth over the forecast period. The urban population in North America in 2021 increased by 0.4% from 2020 to about 306,343,264. This growth in urban population has further boosted residential construction activities. region.

APAC Statistics

The Asia Pacific decorative concrete market is estimated to be the second largest, to have the highest growth. Residential development is booming in India, China, the Philippines, Vietnam, and Indonesia. Asian economies are expected to grow by 1.2% in 2023 and 1.3% per year from 2024 to 2027. China's government is investing heavily in infrastructure, leading to rapid growth in the construction industry. With many airport projects planned or underway, demand for decorative concrete will increase in both residential and non-residential sectors.

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Decorative Concrete Market Size
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Companies Dominating the Decorative Concrete Market

top-features-companies
    • RPM International Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • DuPont de Numours, Inc.
    • 3M India Limited
    • PPG Industries, Inc.
    • BASF SE
    • Huntsman International LLC
    • The Sherwin-Williams Company
    • Boral Limited
    • CEMEX S.A.B. de C.V.
    • Sika AG

In-the-news

In The News

  • November 22, 2021: Sika AG has increased its production capacity in the quickly expanding Chinese construction sector by building a new mortar production facility in Jiaxing City, in the province of Zhejiang in Eastern China. Sika is responding to the area's high demand by commissioning the new facility. This phase also ensures improved logistics, a reduction in CO2 emissions, and shorter transit routes for raw materials and finished items.
  • September 29, 2020: PPG Industries, Inc. announced the introduction of PPG Flooring coatings, which was anticipated to be a comprehensive line of coating systems that comprise primers, bases, and topcoats and are customized to deliver the best performance based on the unique work environment. Customers had the choice of selecting one of four flooring coating systems: general purpose, wear resistance, chemical resistant, and urethane cement.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 4831
  • Published Date: Oct 03, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increased construction activities , rise in commercial & residential renovation and increased disposable income are some of the major growth factor for the market’s growth .

The market size of Decorative Cement is anticipated to attain a CAGR of 8.90% over the forecast period, i.e., 2024– 2036.

The major players in the market are DuPont de Numours, Inc. ,3M India Limited,PPG Industries, Inc.,BASF SE,Huntsman International LLC,The Sherwin-Williams Company,Boral Limited,CEMEX S.A.B. de C.V.,Sika AG Nippon Concrete Industries Co and others

The Non- residential segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Decorative Concrete Market Report Scope
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