Decorative Concrete Market Report (2024 - 2030) - Size and Share Analysis, Industry Trends, and Growth Forecasts

Decorative Concrete Market Size and Share Analysis

The decorative concrete market generated revenue of USD 18.0 billion in 2023, which is expected to witness a CAGR of 5.9% during 2024–2030, to reach USD 26.8 billion by 2030. This is because decorative concrete finds its use in various residential and commercial structures due to its aesthetic appeal and eco-friendly value.

Its application is not only limited to as of simple plain gray concrete, it can also be used for different construction activities like statues and other home decor artifacts.

Plain gray concrete can be transformed into decorative concrete in a number of ways, such as by adding a variety of admixtures during the pouring process and incorporating a variety of colors that increase the final product's aesthetic appeal and durability.

Moreover, the increase in the market for decorative concrete is due to the rise in the green building concept and increasing infrastructure activities across the world.

For instance, green infrastructure has risen by 177% in the past five years from 2017 to 2021 as compared to the previous five-year report of 2011 to 2019, according to a report of CBRE.

Furthermore, decorative concrete is also a very popular choice among architects and engineers for various retrofitting and remolding construction activities.

In addition, the rise of new construction technology like 3-D printing of concrete is giving rise to the use of decorative concrete. Further, it has a great range of patterns and colors to choose from, and it requires low maintenance due to high durability.

• Sika Corporation announced the merger of its Sika Butterfield Color and Sika Scofield ventures to generate a unique line of decorative concrete products known as Sika Color, SikaCem, and SikaStamp.
• 3-D printing of concrete is the latest advancement in the construction industry which makes use of 3-D printers to print the desired shape of structures, working with a 3-D printer requires skillful and experienced contractors, which are not easily available plus 3-D printers are expensive equipment.
• The collaboration between the governments and the major companies helps in developing the guidelines for the use of green construction materials.
• The Indian cement industry is going to add about 150–160 million tons of capacity of cement production from the financial year 2025 to 2028.

Decorative Concrete Market Trends & Drivers

Government Initiatives To Promote Sustainable Development Is a Major Trend

• The Ministry of Environment, Forests, and Climate Change (MoEFCC) has initiated the draft Green Credit Program Implementation Rules 2023.
• This inventive offers its stakeholders, individuals, farmer-producer organizations (FPOs), industries, and local bodies, opportunities to earn green credits for undertaking specific activities that contribute to a beneficial impact on the environment.
• The popularity of using and implementing green building components into newer construction is rising.
• Multiple kinds of concrete are being utilized in buildings by many environmentally conscious developers to make them healthier, safer, more environmentally friendly, and energy-efficient.
• Moreover, governments all over the world promoting sustainable construction to reduce the carbon footprint and achieve carbon neutrality.
• Decorative concrete helps in reducing waste products generated by various industries, as it is used to manufacture finished products.
• Green construction is a way of attaining a sustainable future and using recycled concrete and other recycled raw materials for manufacturing decorative concrete can help in reducing the carbon footprint of the construction process.
• The Government of India also provides incentives and tax benefits for buildings, which are certified for practicing ecofriendly construction techniques.

Rise in Infrastructure and Building Activities Drives the Demand

• The surging urbanization and growing population are the major reasons for the increasing number of infrastructure and building activities, which, in turn, drive the growth of this market.
• Under the Union Budget of 2023–24, the infrastructure was awarded USD 122 billion, which was 3.3% of the Indian GDP and was approximately three times the amount sanctioned in the 2019–20 budget.
• The continuous rise in the concrete market is due to aesthetic appeal and a variety of choices offered to consumers to choose from.
• Furthermore, new product developments and technology developments like 3-D printing concrete are projected to fuel the decorative concrete market's expansion.
• The 3-D printed concrete can be used for printing the desired shape size, which is helpful in creating new design artifacts.
• The cost of a 3-D printed concrete building is approximately 30–40% less than the conventional concrete building.

Variation in Prices Is a Challenge

• Concrete derives its value from the cost of its derivatives such as cement, fine aggregates, and coarse aggregates, and their ease of availability.
• Raw materials required for the manufacture of decorative concrete have a volatile price, thus the variability in the price of raw materials affects the cost of the finished products to consumers.
• High labor costs also impact the market as the availability of experienced and skilled laborers in the field of decorative concrete is lacking and if available, they will charge a higher wage.
• Hence, the variation in prices hampers the growth of the market to some extent.

In-Depth Segmentation Analysis

Decorative Concrete Type Insights

• The decorative concrete types involve stamped, stained, colored, polished, epoxy, and concrete overlays that look like natural materials like stones, bricks, tiles, and wood texture.
• The stamped concrete category has the highest share in the decorative concrete market as compared to other types of decorative concrete.
• This type of decorative concreting is more popular among property owners due to its economical and aesthetic appeal.
• In addition, it provides a long-lasting and low-maintenance solution, for both residential and non-residential users.
• Acid staining is another way of enhancing the looks of concrete by the use of mineral salts, water, and muriatic acid, to get desired stains on the concrete surface, which is later scrubbed and neutralized with the help of ammonia solution and baking soda to neutralize the pH level.

Below are the types of decorative concrete that were studied in the report:

• Stamped concrete (largest category)
• Stained concrete
• Colored concrete
• Polished concrete (fastest-growing category)
• Epoxy concrete
• Concrete overlays
• Light transmitting concrete

End User Analysis

The non-residential category accounts for a larger market share. The demand for products made of decorative concrete is higher in non-residential structures such as hospitals, hotels, and parks.

Also, decorative concrete is the material of choice for patios, pathways, and driveways. This is because of the decorative concrete's durability, aesthetically pleasing appearance, and great performance.

Below are the types of decorative concrete by end-use industry:

• Residential (faster-growing category)
• Non-residential (larger category)

Application Insights

• The floors category held the largest market share, of 45%, in 2023, due to factors including longevity, durability, appealing appearance, and low maintenance.
• Also, decorative concrete is a popular choice for flooring applications because of its eye-catching appearance and low maintenance needs.
• Whereas, the statues category is expected to witness the fastest growth during the forecast period. This can be due to its appealing look and desired workability, which can be obtained with the help of suitable admixtures.
• Advancements in technologies like 3-D printing concrete are a big driver to the market in this category, as the desired shape and size can be secured with the help of these technologies.

The following are the application types covered in the report:

• Floors (largest category)
• Driveways
• Poolside
• Patios
• Walls
• Statues (fastest-growing category)
• Sinks
• Courtyards

Market by Technique

• There are various techniques for manufacturing decorative concrete like pattern imprinted concrete (PIC), stencilcrete, spraycrete, and textured overlays among which PIC is the most popular method.
• The two main target audiences for PIC use include residential clients intending to surface their driveways, patios, walkways, pool sides, etc., and commercial clients desiring a low-maintenance, aesthetically pleasing, decorative, or customizable surface.
• An alternative to standard concrete surfacing for houses or workplaces is stencilcrete. The consensus among architects, designers, engineers, and municipal authorities is that stencilcrete is quickly taking the lead as the preferable surface substitute.
• Spraycrete is a polymer cement coating with superior durability that can be used for resurfacing both new and aged concrete. When utilized in combination with stencilcrete paper stencils, spraycrete can produce beautiful graphics both fast and affordably.
• This method is a great way to obtain the appropriate aesthetics at an inexpensive cost.

Below are the technique types covered in the report:

• Pattern imprinted concrete (PIC) (largest category)
• Stencilcrete (fastest-growing category)
• Spraycrete
• Textured overlays

Regional Insights

North America held the largest value share, of 40%, in 2023 in the decorative concrete market.

• This is due to the increasing population and technological advancements in the infrastructure sector.
• Also, the number of single-family homes is increasing in numerous states of the U.S.
• The rise in the application of decorative concrete in the residential sector is due to its use in flooring systems.
• The presence of a large number of consumers of decorative concrete in which the PIC is the most popular.

Whereas, the Asia-Pacific market is expected to record the highest CAGR in the coming years.

• The region has seen a boom in the residential building sector in a number of regional countries, including China, India, Japan, South Korea, and others. Over the course of time, this growth is projected to push up the demand for decorative concretes used in residential and commercial structures.
• China is the major shareholder of the APAC market with its booming construction industry. This is because infrastructure investment is being promoted by the government as a way to maintain economic growth.

Further, regions and countries analyzed for this report include:

• North America (Largest Regional Market)
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • U.K. (Largest and Fastest-Growing Country Market)
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan
  • India (Fastest-Growing Country Market)
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest and Fastest-Growing Country Market)
  • Mexico
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia (Largest Country Market)
  • South Africa
  • U.A.E. (Fastest-Growing Country Market)
  • Rest of MEA

Competitive Analysis

The decorative concrete market has a high degree of fragmentation, owing to the presence of many domestic and international players. The continual appearance of new players is impacting established and new service providers. Consumers can choose any particular contractor to avail services and products according to their needs.

Decorative Concrete Companies’ News

• Sika in May 2021 launched its Sika-1 Pre-Bag LC Render, which is a one-component, multi-coat render system, that can be applied with the help of spray and can reduce the time of application and wastage of cement.
• Cemex launched Vertua in September 2023, which is a range of sustainable products delivered by Cemex for its clients to attain their goal of sustainability and green construction for the future.
• Cemex is providing nearly more than 20000 cubic yards of Vertua lower carb on concrete for Houston Methodist’s Centennial tower, which is one of the largest medical facilities in the world.
• Glaze ‘N Seal in February 2024 launched its new EZ stain premium pigment base concrete stain for indoor and outdoor purposes, which will provide users with the desired aesthetic and natural look with the desired durability.