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The CAGR for the decorative concrete market is 6.2% until 2027. The market value was USD 15.40 billion in 2020. It’s estimated to be USD 24.18 billion in 2028. When people use decorative concrete in their residential or commercial building units they use different sizes, styles, designs, and shapes of concrete to enhance its inherent beauty. Decorative concrete is made by adding various materials to liquid concrete. These materials can also be added after the concrete is cured.
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Many homeowners are choosing to use decorative concrete in their patios, floors, doorways, countertops, etc. all of these are made out of some sort of concrete or similar material. Many developers are finding that decorative concrete is useful as decoration for horizontal and vertical surfaces. These surfaces tend to be stamped, textured, engraved, micro-topical, etc…
List of companies In The Decorative Concrete Market
Drivers
What’s driving growth in the decorative concrete market is the increased popularity of the usage and incorporation of green building concepts in newer buildings. Many developers are environmentally conscious and are choosing to incorporate different types of concrete into buildings to make them safer, cleaner, friendlier for the environment, and more energy-efficient (in that they utilize less energy than previous generations of buildings did!)
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Opportunities
There is money to be made in the market. Many companies are realizing this. That’s why they’re investing heavily in research and development to come up with newer generations of decorative concrete that have more innovative applications, are more aesthetic, and are friendlier for the environment.
Challenges
Perhaps the biggest challenge that companies in the decorative concrete market face lie in educating the masses in developing nations about the benefits of decorative concrete. These companies also face the challenge of ensuring that the price of decorative concrete remains affordable. This is the only way that they will see continued growth in this market.
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Regional Analysis
Europe dominates the global decorative concrete market due to government initiatives for infrastructure development. Also, EU governments are placing enormous pressure on energy-efficient building codes. Besides, massive investments in renovating, remodeling, repairing, and rehabilitating existing buildings in the region boost the market shares. The demand for decorative concrete is projected to grow dramatically over the assessment period.
Moreover, the presence of major decorative coatings manufacturers, specifically in Germany, provides an impetus to the growth of the market. European countries such as Italy, Germany, the UK, Spain, France, and Russia are increasing their R&D and innovation budgets, driving the regional market growth significantly.
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Recent developments
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