Based on product, the decorative concrete market is divided into stamped, polished, engraving, and stained concrete. Other minor product segments comprises of epoxy coating, colored, and knockdown finish concrete. Among these products, stamped and stained concrete held substantial share in 2018 and will show the positive growth rate in future. These products are widely used for exterior applications including decks, corridors, terraces, paving, etc. due to superior strength, sustainability, economic and durable features.
Based on application, the decorative concrete are usually employed on walls, floors, and patios. Other application areas include pool decks, footpaths and driveways, ceilings, etc. Among these, floor applications accounted for majority of the segment share and is likely to grow at significant rate in future. This is all due to excellent inherent properties such as abrasion & stain resistance, heat resistance, resilience, high strength, etc.
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Decorative Concrete Market size is majorly driven by the growth in construction industry. The recovery from economic slowdown along with a steady GDP in the North American region will be a key reason for the regional construction sector growth. Decorative concretes is extensively used on floors & walls as it is one of the most versatile construction materials. Ease of customization and durability of the product also make it perfect for indoor and outdoor building applications.
The product enhances the overall look of driveways and also adds aesthetic style to home décor. In 2010, the overall construction spending was around USD 790 billion in the U.S., which increased to over USD 1.18 trillion in 2016. The above mentioned increasing trend of construction spending will bolster the construction activities in the country, which will further propel the decorative concrete demand in future.
The U.S. construction industry growth has been mostly driven by surge in private construction activities. In 2017, the overall public and private construction was valued over USD 1.25 trillion, of which the residential construction segment clutches around 40% and the non-residential construction was valued around USD 720 billion. It shows that although the public construction sector has remained stagnant during the aforementioned period, private construction has witnessed a significant growth in terms of value. This high value of residential and commercial construction in the U.S. will augment the demand for decorative concrete in the country by 2025.
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Significant investments in renovation of old monuments and commercial construction activities in Asia Pacific will support the regional decorative concrete market growth in future. In 2018, China construction spending was around USD 1.8 trillion and is expected to grow with more than 5% rate in coming years. Moderate cost, favorable aesthetic properties, and easy installation are some key characteristics of the product, and this will boost the market demand for new construction spaces in the Asian region by 2025.
Although, the product is a low-maintenance option for flooring application, decorative concrete develops cracks over time and will require patching up. The manufacturing process of decorative concrete uses huge amount of energy and emits large volume of carbon dioxide than other construction materials. The above mentioned factors will be hampering the market growth in coming years.
On the basis of end-use sector, global decorative concrete market is divided into residential and non-residential. Among these, residential end-use sector will witness a substantial growth by 2025 owing to increasing housing demand in most of the developed and developing countries of North America, Europe and Asia Pacific.
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Decorative concrete market is segregated into Asia Pacific, Europe, North America, Middle East & Africa and Latin America regions. From these, Europe followed by Asia Pacific will show the positive growth rates in coming years due to the quick recovery of construction activities.
Stylebeton, Bomanite, Butterfield Color, Kuhlman Corp, Sika AG, PPG Industries, RPM International, Sherwin-Williams Company, Huntsman International, UltraTech Cement Limited, 3M are some key companies in decorative concrete market.
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