Global Decorative Concrete Market Set For 5.5% Growth, Reaching $22.32 Billion By 2028

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What is the Anticipated Market Size of the Decorative Concrete sector in 2024?
The global decorative concrete market has registered robust growth in recent years. From $17.16 billion in 2023, it is projected to ascend to $18.02 billion in 2024, on the back of a compound annual growth rate CAGR of 5.0%. This impressive growth during the historic period can be largely credited to a heightened focus on architectural and interior design trends, the burgeoning real estate and construction industry, an uptick in renovation and remodeling projects, interior design changes induced by the Covid-19 pandemic, as well as developments in the commercial and hospitality sector.

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How do Growth Projections for the Decorative Concrete Market look?
The decorative concrete market size is poised for formidable expansion in the next few years, with $22.32 billion forecasted to be reached by 2028 at a CAGR of 5.5%. The predicted growth during the forecast period can be ascribed primarily to growing health and wellness considerations, trends towards customization and personalization, an aging population necessitating universal design, the spread of e-commerce and online sales, emerging market growth, and infrastructural development associated with urbanization.

Key compositional trends anticipated in the forecast period include stained and polished concrete finishes, custom textures and patterns, exposed aggregate, decorative concrete overlays, and a surge in the use of stamped concrete.

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What are the Key Drivers Surrounding the Decorative Concrete Market?
Rapid urbanization is substantially contributing to the growth of the decorative concrete market. Underpinned by the migration of populations from rural to urban areas and an increase in human population density in urban pockets, the need for both residential and non-residential buildings is on the rise, thereby fueling the decorative concrete industry. For instance, according to the United Nations Department of Economic and Social Affairs, by 2050, 68% of the global population, estimated at 2.5 billion people, will reside in urban areas. Consequently, rapid urbanization has emerged as a key catalyst propelling the growth of the decorative concrete market.

Who are the Major Companies Participating in the Decorative Concrete Market?
Key companies engaged in the decorative concrete market include Cemex SAB de CV, HeidelbergCement AG, BASF SE, 3M Company, Sika Corporation, RPM International Inc., Sherwin-Williams Company, PPG Industries Inc., Huntsman International LLC, Ultratech Cement Limited, Boral Limited, McKnight Custom Concrete, Seacoast Concrete, The Holcim Group, Bomanite LLP, Elite Crete Systems UK Ltd., DuPont de Nemours Inc., Arkema SA, WG Wearne Limited, Vicat SA, Summit Materials Inc., U.S. Concrete Inc., Breedon Group plc, LafargeHolcim Ltd., The Euclid Chemical Company, Solomon Colors Inc., Butterfield Color Inc., Brickform SRO, Davis Colors, Increte Systems Inc., NewLook International Inc., SureCrete Design Products Inc., Ameripolish Inc., Super-Krete International Inc., Smith Paint Products, ChemSystems Inc., Engrave-A-Crete Inc., Concrete Coatings Inc., Vexcon Chemicals Inc., Proline Concrete Tools Inc. These major players have made an indelible impact on the industry with their advanced products and strategic maneuvers.

What are the Emerging Trends Influencing the Decorative Concrete Market?
The integration of 3D concrete printing technology is reshaping the decorative concrete market. This additive manufacturing technology, which involves the creation of three-dimensional objects via computer-controlled sequential layering, is gaining traction in the construction industry. It minimizes errors, allows greater design flexibility, reduces the environmental footprint and demands fewer materials compared to traditional construction methods. For instance, in July 2021, Petroleum Development Oman PDO, InnoTech, and Galfar Engineering and Contracting Company launched a 3D concrete printing facility using this technology in Ghala. This development harbingers a sustainable alternative to traditional construction, expediting processes and reducing waste.

How is the Decorative Concrete Market Segmented?
The decorative concrete market covered in this report is segmented by type into Stamped Concrete, Stained Concrete, Concrete Overlays, Colored Concrete, Polished Concrete, Epoxy Concrete, and Other Types. By application, it is segmented into Walls, Floors, Pool Decks, Driveways And Sidewalks, Patios, and Other Applications. By end-user, it is divided into Residential and Non-Residential.

Which Regions are Leading in the Decorative Concrete Market?
North America was the dominant region in the decorative concrete market in 2023 while Asia-Pacific is projected to be the fastest-growing region in the forecast period. The geographic sections examined in the decorative concrete market report comprise Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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