At 5.5% CAGR, Decorative Concrete Market Size to Hit USD 20.2 Bn, Globally by 2028 | Decorative Concrete Industry Trends, Share, Growth Rate, Value, Analysis & Forecast Report By Zion Market Research

2022-08-01 17:43:54 By : Ms. jessie liu

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NEW YORK , Aug. 1, 2022 /PRNewswire/ -- As per Zion Market Research study, the global decorative concrete market size was worth around USD 14.7 billion in 2021 and is estimated to grow to about USD 20.2 billion by 2028, with a compound annual growth rate (CAGR) of approximately 5.5% over the forecast period.

A dashboard camera is a specialized portable onboard camera fitted inside a car's windscreen, often known as a dashcam, car DVR, event data recorder (EDR), or driving recorder. A small video camera that is positioned on the dashboard or windscreen of passenger automobiles, as well as commercial vehicles like lorries and trailers, is referred to as a "dashboard camera." Growing government initiatives and growing public awareness of in-car safety are anticipated to drive market expansion. Over the next coming years, market growth is anticipated to be driven by the growing acceptance and profitability of dashboard cameras in nations like Russia , France , and Canada . Over the past few years, the demand for the product has been greatly driven by the rising incidence of auto thefts and traffic accidents around the world. In addition to helping to avoid accidents that were purposefully caused and false insurance claims, dashboard cameras also help to stop insurance fraud. Additionally, regulatory changes for the required installation of dash cams in cars in several nations, including the United States , the Philippines , and Russia , have helped to increase revenue. Favorable insurance company policies, which give discounts to vehicles with these cameras, are also anticipated to contribute to the industry's expansion.

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Zion Market Research published the latest report titled "Decorative Concrete Market By Type (Stamped Concrete, Stained Concrete, Concrete Overlays, Colored Concrete, Polished Concrete, Epoxy Concrete, and Others (Concrete Dyes, Engravings, And Knockdown Finish)), By Application (Floors, Walls, Driveways & sidewalks, Patios, Pool Decks, and Others (including Ceilings and Countertops)), By End-Use (Residential and Non-residential), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028." into their research database.

Decorative Concrete Market: Growth Drivers

One of the main reasons for the increase in demand is the increased demand for stamped concrete, particularly for the construction of hotel flooring and other commercial structures. This is primarily because stamped concrete has many advantages, including a good aesthetic appeal for floors, resistance to sliding, and resilience to wear & tear brought on by high foot traffic. In the Middle East and Africa as well as the Asia Pacific , a major increase in demand is anticipated. It is anticipated that significant investments in housing constructions and quick industrialization in these areas' developing nations will increase demand for stamped concrete. The aesthetic appeal of a building or other structure is enhanced with stamped concrete, which will increase demand for it in the years to come. All of these factors are projected to drive the global decorative concrete market growth.

Prices for the energy and raw materials used to make decorative concrete are erratic, and this tendency is expected to persist during the projected period. The fluctuating price of crude oil and petroleum could push up the price of raw materials, which would then push up the price of decorative concrete coatings, color pigments, cement, adhesives, and sealants. As a result, the cost of decorative concrete is directly impacted by the cost of these components. Vendors raise the price of their goods or cut their profit margins in response to rising raw material costs, which will have a negative impact on the expansion of the market.

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The demand for decorative concrete will increase during the projected year due to an increase in remodeling and renovation activities in non-residential spaces. The structures of their establishments are also being renovated by hotel and resort owners in an effort to increase their clientele and improve the lodging quality. For instance, JW Marriott debuted a new hotel in Canberra, Australia , in September 2019 . The hotel boasts the newest design highlights and polished concrete flooring, which enhances the visual appeal of the floors. The industry's growing investments in residential development and retail are also anticipated to accelerate the adoption of decorative concrete.

The market for decorative concrete is expected to rise thanks to the building sector's rapid expansion. People are less aware of these beautiful concrete uses and the advantages they provide, nevertheless, in several emerging or undeveloped APAC, African, and South American nations. In rising economies in APAC and South America , there is a lack of knowledge regarding the toughness, endurance, and adaptability of decorative concrete materials and solutions. Customers must be made aware of the good effects and advantages of decorative concrete on the environment and how it may support a healthy lifestyle in order for this business to grow.

Global Decorative Concrete Market: Segmentation

By type, the market is divided into stamped concrete, stained concrete, concrete overlays, colored concrete, polished concrete, epoxy concrete, and others (including concrete dyes, engravings, and knockdown finish). Over the course of the forecast period, the stamped concrete sector is anticipated to hold a bigger market share in the decorative concrete market worldwide. This market is growing since stamped concrete is being used more frequently by contractors for patios, driveways, pathways, and pool decks. With its low cost and excellent durability, stamped concrete is becoming more and more popular, which is supporting the segment's revenue growth. The usage of stamped concrete for large-area flooring solutions in the construction of residential and commercial complexes is another factor fueling the growth of this market. The popularity of stamped concrete is anticipated to expand due to other crucial considerations including ease of installation and lower labor costs. Additionally, stamped concrete's sustainability and accessibility are raising demand for it.

Based on end-use, the market is divided into non-residential and residential. By 2028, the non-residential sector is anticipated to account for a sizable percentage of the market with to growth of almost 5.6 percent.

By application, the global decorative concrete market is divided into floors, walls, driveways & sidewalks, patios, pool decks, and others (including ceilings and countertops). By 2028, the flooring sector will dominate the decorative concrete market globally. With its lifespan, sturdiness, and durability, decorative concrete can take the place of standard flooring solutions (such as tiles and plywood). Popular flooring applications for decorative concrete include its attractive appearance and ease of upkeep. The segment's income is growing as decorative concrete is used more frequently to create floors and walls inside and outside of buildings. With the availability of a wide variety of decorative concrete in various textures based on consumer preferences for aesthetically pleasing floors and walls, its use is expanding. This is anticipated to provide this segment's growth a significant boost.

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List of Key Players in Decorative Concrete Market:

Key questions answered in this report:

By Product Type, By Application, And By End Use

Value (USD Billion), and Volume (Units)

Revenue in USD million/billion and CAGR from 2022 to 2028

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

S.A.B. de C.V., CEMEX, HeidelbergCement AG , DuPont , Ultratech Cement Limited, 3M Company , BASF SE , RPM International Inc. , Sika AG, PPG Industries, Inc. , The Sherwin Williams Company , Arkema SA, Huntsman International LLC , and Boral Limited.

Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

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·  North America will dominate the global market for decorative concrete due to increased construction activity.

The development of technology in the building and construction sector is what is fueling the growth of the decorative concrete market in North America . Particularly in Florida , Georgia , North Carolina , Washington , Utah , Tennessee , Ohio , California , Idaho , and South Carolina , single-family homes are increasing across the US. One of the main market drivers for decorative concrete has been the use of flooring systems with aesthetic appeal and decorative elements in residential applications. It is projected that increasing regional government investments in the construction of commercial buildings will fuel the growth of the North American industry.

Global Decorative Concrete Market is segmented as follows:

Decorative Concrete Market: By Type Outlook (2022-2028)

Decorative Concrete Market: By Application Outlook (2022-2028)

Decorative Concrete Market: By End-Use Outlook (2022-2028)

Decorative Concrete Market: By Region Outlook (2022-2028)

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