July 06, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Decorative Concrete Market.
It was estimated prior to this unanticipated outbreak that the Decorative Concrete Market is likely to witness an impressive CAGR of 6.5% during the forecast period. The major factors such as rising demand for green buildings, renovative activities, increase in consumers’ interest for interior decoration, and rapidly increasing urbanization are fueling the growth of the decorative concrete market at a large scale, during the forecast persiod.
Market Scope & Segmentation
Decorative concrete is made up of standard concrete, also comprised with different chemicals and components that are used to alter its color, texture, and appearance. It is created through a finishing process that provides an aesthetic quality to the concrete.
Decorative concretes are best used by the decorative experts for implementing various textures, patterns, and colors in the floors and increase their beauty. Decorative concretes are also considered as cost-effective substitutes for bricks, natural stones, and other construction elements which are otherwise expensive.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Segment Analysis
Based on the type, the market is segmented as stamped concrete, stained concrete, concrete overlays, colored concrete, polished concrete, epoxy coating, and others. Stamped concrete is estimated to be the largest segment of the market as it has been observed that there is a surge in the adoption of stamped decorative concrete on account of the new residential construction and commercial projects. Decorative concrete provides lucrative features, such as aesthetic enhancement, improvement of indoor air quality, and skid resistance. Stamped concrete can be installed easily and has a higher strength, which in turn, increases its demand and growth rapidly. Additionally, the growth of the construction industry also provides an opportunity to the decorative concrete market to grow further.
Based on the application type, the decorative concrete market is segmented as floors, walls, driveways and sidewalks, patios, and others. The floors segment is expected to be the fastest-growing segment of the market during the forecast period. Floors offer various benefits which increase their demand. A wide variety of textures, patterns, designs, and logos can be imparted to decorative concretes, which enhances the aesthetic appeal of floors. The capability of decorative concrete to offer skid-resistance and high strength makes it more preferable, as it withstands heavy foot traffic, which in turn, increases its demand for the floors’ segment.
In terms of regions, Europe held the largest share of the market in 2016, with Germany, France, and the UK being the major countries with lucrative growth opportunities. Germany accounted for the largest share of the market in the region in the year 2016, followed by France. On the other hand, the UK is estimated to be the fastest-growing country in the European region, owing to the increase in the number of housing activities in the country during the forecast period. The European market has been a leader, considering the factors such as product innovations, in terms of quality and application development processes. Asia-Pacific and North-America are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
Key players operating in the global Decorative Concrete market are-
· Arkema S.A.
· BASF SE
· E.I. Du Pont De Nemours and Company
· Huntsman International LLC
· PPG Industries, Inc.
· RPM International Inc.
· Sika AG
· The 3M Company
· The Sherwin-Williams Company
· Ultratech Cement Limited.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Decorative Concrete analysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors
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