The report “Decorative Concrete Market by Type (Stamped Concrete, Stained Concrete, Colored Concrete, Polished Concrete, Epoxy Concrete, Concrete Overlays), Application, End-use Sector, and Region – Global Forecast to 2025″, The global decorative concrete market size is projected to grow from USD 15.4 billion in 2020 to USD 20.5 billion by 2025, at a CAGR of 5.9% from 2020 to 2025. The market is projected to grow in accordance with the increase in the demand for residential and commercial construction across the globe. Furthermore, the decorative concrete market has witnessed a significant increase in demand, owing to the growing interest of consumers in home décor, the booming housing construction sector, rise in renovation & remodeling activities, and rapid urbanization & globalization.
Decorative concrete is the use of concrete as not simply a utilitarian medium for construction but as an aesthetic enhancement to a structure, while still serving its function as an integral part of the building itself such as floors, walls, driveways, and patios. The growth of the decorative concrete market is attributed to the growth of the residential as well as non-residential construction industries, globally. However, factors such as volatility in the raw material prices may inhibit the growth of the market.
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MarketsandMarkets expects the global decorative concrete market size to to grow from USD 15.4 billion in 2020 to USD 20.5 billion by 2025, at a CAGR of 5.9% from 2020 to 2025. The market for decorative concrete is segmented, on the basis of type, into stamped concrete, stained concrete, concrete overlays, colored concrete, polished concrete, epoxy concrete, and others (include concrete dyes, engravings, and knockdown finish). Stamped concrete is projected to dominate the market for decorative concrete by 2025. It is commonly used for new constructions or renovations in the residential sector, as it offers a wide range of products pertaining to concrete patterns or colors. It is ideal for outdoor usages and is commonly used for beautifying pool decks, driveways, courtyards, and patios. This type of concrete is easy to maintain and is cost-effective.
On the basis of application, floors is projected to be the largest segment in the decorative concrete market during the forecast period. Concrete floors are the most versatile and commonly used flooring in residential and non-residential sectors. It is referred to as polished concrete, which provides stylish contemporary flooring. It is easy to install, especially in instances where a concrete slab is available for staining, polishing, or application of a decorative coating or overlay. Concrete floors are easy to maintain and have a longer life span when compared with other flooring, such as marble, granite, slate, or high-end wood.
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Based on end-use sector, Non-residential is projected to be the larger segment in the decorative concrete market. The non-residential segment generates higher demand for the decorative concrete products, majorly for the flooring application. Decorative concrete is preferred for driveways, patios, and sidewalks. The growth in the non-residential segment is due to the longevity, esthetic appeal, and high-performance properties of decorative concrete.
The decorative concrete market is studied for five regions, namely, North America, APAC, Europe, Middle East & Africa and South America. The North American region accounted for the largest market share in 2019, in terms of both value and volume. However, the market for decorative concrete in the APAC region is projected to grow at the highest CAGR from 2020 to 2025, in terms of both value and volume.
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In 2020, the COVID-19 pandemic and the measures taken to contain it have had minimal impact on the decorative concrete market and the market is expected to witness a nominal decline in its demand in 2020. The growth of the decorative concrete market is further attributed to the growth in demand for low-maintainence floorings, and acceleration in construction activities.
