Global Decorative Concrete Market to Surpass $26.8 Billion by 2030

(MENAFN- P&S Intelligence) According to the latest market research study published by P&S Intelligence, the decorative concrete market is poised for significant growth, with revenues projected to rise from USD 18.0 billion in 2023 to USD 26.8 billion by 2030, reflecting a compound annual growth rate (CAGR) of 5.9% during the forecast period. This upward trajectory is driven by the material's aesthetic appeal and eco-friendly attributes, making it a preferred choice for various residential and commercial applications. Unlike traditional plain gray concrete, decorative concrete offers versatility in design, allowing for its use in diverse construction activities, including statues and home décor artifacts.

The market's expansion is further bolstered by the growing adoption of green building concepts and increasing infrastructure activities worldwide. Notably, green infrastructure has surged by 177% between 2017 and 2021 compared to the previous five-year period, highlighting a significant shift towards sustainable construction practices. Additionally, advancements in construction technology, such as 3-D printing, are enhancing the application scope of decorative concrete, offering a wide range of patterns and colors with low maintenance requirements due to its high durability.

Key Insights

Segmentation Analysis

• Decorative concrete is categorized by type, including stamped concrete, stained concrete, colored concrete, polished concrete, concrete overlays, epoxy concrete, and light-transmitting concrete.
• Applications span floors, driveways, poolside areas, patios, walls, statues, sinks, and courtyards, catering to both residential and non-residential sectors.
• Techniques employed encompass pattern imprinted concrete (PIC), stencilcrete, spraycrete, and textured overlays, with PIC being the most prevalent.

Regional and Geographical Trends

• North America currently holds the largest market share, attributed to the region's advanced construction industry and high adoption of decorative concrete.
• The Asia-Pacific region is anticipated to witness the fastest growth, driven by rapid urbanization, increasing infrastructure development, and rising awareness of sustainable construction materials.

Technological Advancements Shaping the Market

• The integration of 3-D printing technology in construction is revolutionizing the decorative concrete market, enabling the creation of complex designs and structures with enhanced precision.
• This technology requires skilled and experienced contractors, presenting both opportunities and challenges in the market's evolution.

Competitive Dynamics, Major Players, and Emerging Opportunities

• The market is fragmented, with numerous players offering a variety of decorative concrete products and services.
• A notable development includes Sika Corporation's merger of its Sika Butterfield Color and Sika Scofield ventures, resulting in a unique line of decorative concrete products under the brands Sika Color, SikaCem, and SikaStamp.
• The rising demand for eco-friendly and aesthetically pleasing construction materials presents significant opportunities for market players to innovate and expand their offerings.

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