Decorative Concrete Market Subjected to Expand Moderately by 2023
Decorative
Concrete Market is an extremely
popular one as this is a widely used construction material across the globe.
This is a regular concrete having extra touch of unique patterns, finishes or
coloring. Commercial buildings like office buildings, hotels and malls invest a
good share of revenue on this concrete for maintaining the aesthetics and
visual stature of their advanced facilities.
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Some of the practical uses of decorative concrete include unlit roundabouts,
cycle paths, pavements, walkways and garden paths. The developing construction
sector all over the world is driving its market growth. Current rise in
construction start-ups has led to an increase for decorative concrete. This
concrete is highly lucrative for different reasons like skid resistance,
improved indoor air quality and aesthetic enhancement. The rise in remodeling
and renovation activities is another reason behind the market growth. The
growth for the decorative concrete market can also be attributed to this
construction material’s stain, abrasion and resilience resistance. Owing to its
good strength, it is used in heavy foot traffic areas too. The global decorative
market is likely to grow at a splendid 6.2% CAGR during the forecast period.
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Market Segmentation
In
MFRF’s report, the global decorative concrete market is segmented on the basis
of type, application and end use.
Based
on type, it is segmented into polishing concrete, concrete dyes, stained
concrete and stamped concrete. Amid these, the stamped concrete has the biggest
market share. This is a constant concrete surface which has been stamped or
molded to appear close to wood, stone, bricks and individual pavers. Its demand
is on the rise because stamped concrete has higher strength and is easy to
install.
Based on applications, the global
decorative market is segmented into non-residential and residential. Of the
two, the residential segment holds the biggest share. Owing to urbanization and
increasing population, a shift has been noticed in the population under the
urbanized areas particularly in the developing nations. It is this transition
that has augmented the demand for residential complexes and homes. This is
another reason behind the growth of the decorative concrete market. On the
other hand, the non-residential segment is likely to grow at a whopping CAGR at
the time of the forecast period. Moreover, more investment made in renovation
projects and latest commercial constructions will boost up this sectors demand.
Based
on end use, it is segmented into patios, walls, driveways and floors. Of all,
the floor segment has the biggest market share and is likely to grow at a
maximum CAGR at the time of the forecast period.
Regional Analysis
On
the basis of region, the global decorative concrete market is segmented into
North America, Europe, Asia Pacific and Rest of the World. Of all these
regions, Europe has the maximum market share and next follows North America and
Asia Pacific. Rehabilitation and repair of the current infrastructure and
increasing up gradation are the key drivers behind the growth of the decorative
concrete market in Europe. In Europe, the UK and Germany are the key markets.
The construction values in the UK both of private and public sectors is constantly
increasing. The second biggest region in the market is North America and in
North America, the biggest market is the US. It is the strong development in
the United States’ residential and commercial structures that is likely to
increase the demand for decorative concrete market here. It is Asia Pacific
that is anticipated to grow at an impressive CAGR during the forecast period.
The rising number of construction activities in India, Japan, Indonesia and
China is the key factor that is increasing the market growth.
Key Players
Leading
players in the decorative concrete market include Seacoast Concrete (US),
Deco-Crete, LLC (US), Mcknight Custom Concrete Inc (US), PPG Industries Inc
(US), BASF SE (Germany), Bomanite India (India), Boral Limited (Australia),
LafargeHolcim Ltd (Switzerland), HeidelbergCement AG (Germany), and Sika AG
(Switzerland).
Control flow concrete is a concrete
category that has recently emerged for bridging the gap amid self-consolidating
and conventional concrete. Some of its desirable characteristics include it
flows and places with ease without negatively impacting segregation resistance
or stability. It can be placed with little vibration, will cut cost and
eliminate labor cost.
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