Decorative Concrete Market - Regional Analysis and Global Forecast to 2026
Category: #business  By Rahul Varpe  Date: 2020-02-03
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Decorative Concrete Market - Regional Analysis and Global Forecast to 2026

Asia Pacific is experiencing an upsurge in product adoption owing to strong industry growth and rising disposable income. The countries including China and India are witnessing massive influx of infrastructural investments and government incentives for dwelling buildings. In June 2019, Government of China announced investment of over USD 100 Billion to reconstruct and renovate 6.26 million shantytown units, 1.9 million dilapidated houses and 300,000 public rental houses. This investment will drive the decorative concrete market growth.

Decorative Concrete Market is expected to exceed USD 23.8 Billion by 2026. Rapid urbanization and changing architectural trends are escalating the product demand.

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Exposed concrete account for a substantial share in the decorative concrete market owing to high durability and aesthetic appeal of the product. It requires minimal long-term maintenance & care requirements and offers wide design variety. Further, excellent heat ventilating properties will propel the segment penetration over the study timeframe.

Floors dominate the decorative concrete market owing to its usage in residential and non-residential spaces. Concrete floors are mixed with multitude of aggregates that enhances its functional capability as they tend to witness high foot traffic, requiring high degree of abrasion and slip resistance properties. The walls are at nascent stage and will foresee steady growth with proliferating use of precast concrete as suspended concrete wall panels.

The residential and commercial buildings are shifting from formal architectural to casual and rustic setting. The consumer inclination for distinctive and affordable flooring solutions is positively influencing the industry. Availability of multiple color shades to match the interior design and ambiance is escalating the product growth. Moreover, increasing awareness regarding green construction and energy savings will expand the decorative concrete market share significantly.

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Residential sector will foresee strong growth over the study timeframe with increasing residential buildings to accommodate both urban and rural population. Increasing government efforts to reduce the supply demand gap in housing sector is promoting the construction activities. Multiple design and textures of the product to enhance the floor and wall aesthetics will stimulate growth potential of decorative concrete market over the projected timeframe.

Some major findings of the decorative concrete market report includes:

  • Changing architectural trends towards traditional and organic design
  • Proliferating construction and infrastructural development activities
  • Consumer inclination towards energy efficient and reliable alternatives
  • Strategic mergers and acquisition by industry participants to expand regional presence. Major industry players include Heidelberg Cement, Lafarge Holcim, and Boral.

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Decorative concrete market players are focusing on expansion of raw material procurement capabilities to reduce dependence on third-party raw material suppliers and gain a competitive edge. For instance, in May 2019, Boral announced the completion of its Orange Grove Quarry in Perth, Australia. The USD 33 million expansion will result in a 30% increase in efficiency, enabling it to procure raw materials efficiently.

Related News: https://www.marketwatch.com/press-release/agriculture-equipment-market-is-set-to-record-6-cagr-during-forecast-time-2020-02-03

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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