Due to the high durability and the aesthetic attractiveness of the product, exposed concrete makes up a considerable share of the market for decorative concrete. It requires minimal long-term maintenance requirements for & and offers a wide variety of designs. In addition, excellent thermal ventilation properties will drive segment penetration over the study period.
Floors dominate the decorative concrete market due to its use in residential and non-residential spaces. Concrete floors are mixed with a wide variety of aggregates, which improves functionality as they tend to have high levels of pedestrian traffic and require high levels of abrasion and slip resistance. The walls are in the early stages and are expected to grow steadily with the increasing use of precast concrete as suspended concrete wall panels.
The production of concrete produces carbon dioxide, which leads to large CO2 emissions and greenhouse gases. According to the National Ready Mixed Concrete Association, concrete production will be released above 0. 93 pounds of carbon dioxide for one pound of concrete. Growing concerns about the environmental hazards caused by concrete production will constrain the decorative concrete market during the period under study.
Decorative concrete market is projected to exceed $ 23. 8 billion by 2026. Rapid urbanization and changing architectural trends are increasing product demand.
The residential sector will expect strong growth in the period under study with increasing numbers of residential buildings for the urban and rural population. Increased efforts by the government to bridge the gap between supply and demand in the housing sector are fueling construction activity. Multiple designs and textures of the product to enhance the floor and wall aesthetics stimulate the potential for growth over the projected time period.
The residential and commercial buildings are shifting from a formal architecture to a casual and rustic environment. Consumer inclination towards distinctive and affordable flooring solutions is having a positive impact on the decorative concrete market. The availability of multiple shades to match the interior design and ambience accelerates product growth. In addition, the increasing awareness of green building and energy savings will significantly increase the industry share.
The players in the industry are concentrating on expanding the possibilities for raw material procurement in order to reduce dependence on raw material suppliers and to achieve competitive advantages. For example, in May 2019, Boral announced the completion of its Orange Grove quarry in Perth, Australia. The expansion by 33 million. USD will lead to a 30% increase in efficiency and enable efficient raw material procurement.
The Asia Pacific region is seeing a surge in product adoption due to strong industry growth and rising disposable income. Countries including China and India have seen massive influx of infrastructure investment and government incentives for residential buildings. In June 2019, the Chinese government announced investments of over 100 billion. USD for rebuilding and renovation at 6. 26 million Shantytown units, 1. 9 million rundown houses and 300. 000 public rental houses. This investment will fuel the growth of the decorative concrete market.
Rahul Varpe is currently writing for Technology Magazine. A trained graduate in communications engineering, Rahul began his journey as a freelance writer along with regular jobs. Rahul already has experience writing as well as marketing services and products . . .
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Industry, forecast, construction, analysis
World news – AU – Decorative concrete market by growth trends and opportunity analysis to 2026
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