Global Decorative Concrete Market: Overview
Decorative concrete is mainly used to provide an aesthetic touch to a building, also forms an integral part of the building’s structure. Hence, this type of concrete plays a very important role in the construction industry. With the architecture of buildings along with the construction processes undergoing drastic change, the demand of decorative concrete has risen considerably in the last few years. Thus, the changing face of the construction industry can be considered a primary factor that has led to market growth.
Based on a report by Transparency Market Research, the decorative concrete market could be segmented based on several criteria: application, location, type, end-use, and region. The report on the global decorative concrete materials market has been compiled using primary as well as secondary research data. Competitive landscapes, newest trends and future opportunities, geographical dominance, and several other aspects have been covered in-depth in the report.
Global Decorative Concrete Market: Drivers and Restraints
Based on applications criteria, the market consists of segments such as interiors floors, patio and pool decks, sidewalks and plazas, driveways, and walls. From the type perspective, the decorative concrete market could be classified according to the methods used for achieving several textures and designs associated with decorative concrete. The individual segments under it are polished, stained, overlays, stamped, and others. The stamped segment, among them, could hold a primary position based on its widespread uptake in residential construction projects.
The high demand for stamped concrete, especially to build hotel flooring and other commercial buildings is a primary factor resulting in an upsurge in the demand. This is mainly due to the widespread benefits of this segment such as providing a good aesthetic appeal to the floors, along with its resistance to skidding and wear and tear caused by heavy footfall. Rapid rise in promotional activities for green buildings is another factor that has proved to cause a substantial improvement in the global decorative concrete market.
Depending upon location, the market for decorative concrete could be segregated into indoor and outdoor. These primarily comprise pool decks, sidewalks, plazas and other such locations. Based on end-use, the global decorative concrete market might be divided onto infrastructure, residential, and commercial spaces, which are further classified into several sub-segments.
Global Decorative Concrete Market: Regional Outlook
From a regional perspective, the global decorative concrete market could be split into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of all these regions, Europe is the leading segment based on revenues grossed, especially since its performance recorded in the past several years. This is mainly because of the growing housing based constructions, which has led to higher usage of decorative concrete both indoors as well as outdoors. Several innovations are also being handled in prominent countries from the European region in the global decorative concrete market. Another factor that has improved the market’s growth in Europe is the rising implementation of nanotechnology along with other additives, which are added to concrete during its manufacturing processes.
Serving to hinder growth in the global decorative concrete market, on the flipside, is the high installation costs, thus reducing the market’s penetration. However, with extensive innovations being carried out by numerous market players, the costs are soon expected to drop substantially.
Global Decorative Concrete Market: Competitive Landscape
Most of the companies operating in this market have a unique universal selling point of their own, thus forming a steady and stable competitive landscape. Some of the key players operating in the global decorative concrete market are Boral Limited, CEMEX, Sika AG, Bharat Floorings and Tiles, Huntsman International LLC, Elite Crete Systems, and S.A.B. de C.V., amongst others.
Key segments of the global decorative concrete market are:
- Interiors floors
- Patio and pool decks
- Sidewalks and plazas
By End Use
- Commercial spaces
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.