Decorative Concrete Market worth 12.78 Billion USD by 2022 | Key Players include BASF SE, PPG Industries, Inc., 3M Company, E.I. du Pont de Nemours and Company, RPM International Inc., Huntsman International LLC, The Sherwin-Williams Company, Boral Limite

According to recent research "Decorative Concrete Market by Type (Stamped, Stained, Colored, Polished, Epoxy Coating, Concrete Overlays), Application (Floors, Driveways & Sidewalks, Walls, Patios, Pool Decks), End-use Sector, and Region - Global Forecast to 2022", published by MarketsandMarkets™, The decorative concrete market size is projected to grow from USD 9.26 Billion in 2017 to reach USD 12.78 Billion by 2022, at a CAGR of 6.66%.

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The global market for decorative concrete, in terms of value, is projected to reach USD 12.78 billion by 2022, at a CAGR of 6.66%. The decorative concrete market is growing rapidly in accordance with the growth in the construction market, globally. The rising interest of consumers toward using aesthetically appealing materials in residential and non-residential sectors has largely contributed to the growth of the decorative concrete market. The decorative concrete market has been classified on the basis of type, application, end-use sector, and region.

High growth potential in the emerging Asia-Pacific market is expected to provide new growth opportunities to the players in the decorative concrete market. In 2016, Asia-Pacific accounted for the fastest-growing region in the global decorative concrete market, with China as the largest market in this region. Developing countries such as China and India are projected to be the emerging markets, with a growth potential that is projected to make Asia-Pacific the fastest-growing region in the decorative concrete market. These emerging economies focus on adopting the latest technologies and manufacturing processes in various construction segments. The growth of the decorative concrete market in this region is driven by factors such as rise in the number of renovation & remodeling activities and rapid urbanization & globalization. In addition to this, the rising population in these countries presents a large customer base for lavish products and aesthetically appealing materials, which in turn is expected to lead to the growth of the decorative concrete market.

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The decorative concrete market is growing at a high pace in accordance with the growth in the residential and non-residential sectors, globally. Factors such as rise in renovation & remodeling activities, growth in interest of consumers toward interior decoration, and rapid urbanization & globalization are largely contributing toward the growth of the decorative concrete market. The decorative concrete market has been classified on the basis of type, application, end-use sector, and region. It has experienced continuous progress with regard to acquisitions and expansions, to expand its geographical reach in the construction industry.

The growth of decorative concrete market was largely influenced by acquisitions and expansions, in the past six years. The years between 2011 and 2017 witnessed a large number of acquisitions adopted by top players in the market. Expansions also formed an essential part of their strategies, which led to the flow of considerable income within the companies. These strategies formed an important part of the growth in emerging markets. The major players include companies such as BASF SE (Germany), PPG Industries, Inc. (U.S.), 3M Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), RPM International Inc. (U.S.), Huntsman International LLC (U.S.), The Sherwin-Williams Company (U.S.), Boral Limited (Australia), CEMEX, S.A.B. de C.V. (Mexico), Sika AG (Switzerland), and UltraTech Cement Limited (India).

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BASF SE (Germany) held the leading position in the global decorative concrete market in 2016. The company has maintained its leadership position through its strong distribution network across Asia-Pacific, Europe, the Americas, and emerging markets. BASF SE is among the leading manufacturers of decorative concrete for many of the markets it operates in. The company operates in the decorative concrete market through its subsidiary BASF Construction Solutions GmbH (Germany). BASF Construction Solutions GmbH, under the brand MasterColor Solution, has developed decorative concrete admixtures that ease the production and placement process of decorative concrete. The company caters to varied application sectors such as housing, education, healthcare, offices, retails & hospitality, and sports.

Sika AG (Switzerland) held the leading position in the global decorative concrete market in 2016. The company has a strong distribution network across Asia-Pacific, Europe, the Americas, and emerging markets. It caters to the decorative concrete industry with products such as admixtures and additives that are used in concrete mixtures, cement, and built-up flat roofing systems. The company also provides a wide range of technologies that can be used for coatings of concrete with the help of decorative concrete used in various applications, such as walls, walkways, patios, and various concrete structures. In April 2016, Sika AG acquired L.M. Scofield (U.S.), a leading company in the production of concrete color additives for ready-mixed concrete, as well as decorative products and treatments for concrete refurbishment. The acquisition was carried out in line with Sika’s accelerated growth strategy in the North American region.

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