Decorative Concrete Market To Reach USD 16.9 Billion In 2027 | CAGR 5.8% - Forencis Research

Global Decorative Concrete Market: Key Highlights

• According to the new market research report “Decorative Concrete Market by Type (Stamped Concrete, Concrete Dyes, Stamped Overlays, Polymer Cement Overlays, Polishing Concrete, Engraving Concrete, Others ), by Application (Walls, Floors, Patios, Driveways & sidewalks, Others), by End-use (Residential and Commercial), and by Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) – Global Forecast From 2020 To 2027”, the global decorative concrete market is estimated to reach USD 16.9 Billion in 2027 at a CAGR of 5.8% during forecast period 2020-2027.
• Ongoing construction activities combined with rising consumer spending and infrastructure development has expected to boost the growth of product market
• Consumer tendency for attractive architecture in both commercial and residential buildings has boosted the demand for remodeling and renovation activities
• Decorative concrete is preferred for construction owing to its properties such as design flexibility, low maintenance, and others are expected to propel the growth of the market.
• Consumer inclination towards using alternatives for decorative cement owing to the ease of operation, low cost, and others may hamper the growth of the decorative concrete market.

Global Decorative Concrete Market: Key Market Dynamics

• Changing design and architecture trends has increased in renovation and remodeling operation to enhance the building structure, thus boosting the market growth over the forecasted period
• Increasing tourism and rising investment in the hospitality sector along with government reforms and the surge in foreign investment has expected to raise the market growth
• However, innovative measures are being taken by market players to reduce the cost which may escalate the growth over the forecast period
• Inclination towards alternatives resulting in reducing market penetration may hinder the market growth.

Global Decorative Concrete Market: Regional Overview

• North America

In North America, homeowners are more engaged in investing in renovating their homes rather than buying a new once. This was attributed to the rising population, improved standard of living, and government initiatives, coupled with awareness regarding the use of eco-friendly materials. For instance, in June 2019, Government of Wichita in Kansas, U.S. has announced construction and renovation of six swimming pools which are planned to be decorated using decorative concretes. However, such renovation activities will boost the demand for decorative concrete.

Thus, ongoing remodeling and renovation activities are expected to propel the market growth in North America decorative concrete market

Asia-Pacific

Asia-Pacific is witnessing strong growth in the market owing to the growing construction industry in developing economies such as India, the Philippines, China, Vietnam, and Indonesia. Moreover, An increase in disposable income coupled with an increase in the middle-class population has facilitated the expansion in the construction activities in the region are the driving factors behind the growth of the market.

Thus, ongoing construction and infrastructure activities in the developing nation have expected to boost the demand for the decorative concrete market. 

Global Decorative Concrete Market: Key Players Overview

•  CHRYSO SA:

CHRYSO SAS was incorporated in 1942 and is one of the leading player in specialty chemical dedicated towards the construction industry. The company has 22 subsidiaries, 26 manufacturing sites, and 5 research & development centers across the globe. In November 2018, CHRYSO SAS acquired BMC DIFFUSION, a company specializes in commercialization of process, materials, and equipment for decorative concrete market. This, acquisition which will help the company to continue its development in the decorative cement market, and extend its network across the globe.  

• Sika AG:

Sika AG is a specialty chemical company and was incorporated in 1910. The company is active in the development and production of systems and products for sealing, damping, bonding, reinforcing, and protecting in the building sector and the motor vehicle industryIt has subsidiaries in 101 countries around the globe and over 300 manufacturing factories. In Nov 2017, Sika AG acquired Butterfield Color Inc., a US market leader in the manufacturing of decorative concrete floor products and systems. This acquisition will help to grow the company’s business in North America by reaching new contractor customers with a better penetration of projects.

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