3 notable trends impacting decorative concrete market forecast over 2019-2026

Rise in disposable income among people across the globe has led to increased household spending. Changing interest of the consumers towards unique house designs to enhance aesthetics will positively influence decorative concrete market share in the coming years.

The industry players are aiming at expanding the procurement capabilities in terms of raw materials in order to reduce the dependence on third-party material distributors and achieve a competitive edge. In May 2019, Boral- an Australian building material co. announced the completion of its Orange Grove Quay in Perth, Australia. The expansion which is valued at USD 33 million will lead to a 30% increase in efficiency, allowing it to acquire raw materials efficiently.

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Described below are some of the important factors anticipated to influence decorative concrete market forecast over the next few years:

1. Increased demand across flooring applications
The presence of several color shades to match the interior designs and ambiance is steering the adoption of decorative concretes. Awareness regarding green buildings and their benefits along with the need to save energy will expand the industry opportunities. Growing number of single family homes and development of residential communities in developing nations will fuel decorative concrete consumption.

In terms of application, the market is bifurcated into patios, floors and walls. Floors segment is showcasing widespread traction owing to the escalating usage of concrete in residential and commercial spaces. Concrete floors are combined with various aggregates that improve their functional capability as they tend to observe high foot traffic, carry slip resistance abilities with a superior degree of abrasion.

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2. Booming residential construction in urban areas

Enhanced purchasing power among the people across the globe is driving advancements in the residential sector to accommodate the rising population in both urban and rural areas. The architectural design of commercial and residential buildings is shifting focus form basic architecture-based concepts to more rustic and casual settings. The inclination of the consumers towards advanced, distinctive yet cost-effective flooring models will support decorative concrete industry trends in the coming years.

There are steps undertaken by the governments to reduce the gap between the supply and demand in housing sector. Multiple designs and textures of the material to improve the wall and floor aesthetics in order to meet the demands of the customers will magnify product penetration.

3. Higher infrastructure investments in Asia Pacific

Regionally, Asia Pacific will witness extensive deployment of the product due to rising disposable income among the people owing to improvements in the rate of employment. Another vital factor supporting the market trends in the region is the consistent growth of the construction industry due to the burgeoning need for restoration activities, social housing and industrial projects.

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In countries such as India and China, huge inflow of investments is being observed along with incentives by the government towards dwelling projects. The Government if China announced total funding of more than USD 100 billion in June 2019 towards the reconstruction and renovation of 6.26 million shantytown units, 30,000 public rental houses and nearly 1.9 million dilapidated homes. Such investments will bolster decorative concrete market outlook.

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