Market Trends of Decorative Concrete Industry
This section covers the major market trends shaping the Decorative Concrete Market according to our research experts:
Residential Segment to Dominate the Market Demand
- The trend of using decorative concrete in residential homes and buildings has led to the growth in demand for decorative coatings market, across the world.
- Asia-Pacific has been witnessing strong growth in the residential construction in countries, such as India, China, Philippines, Vietnam, and Indonesia, which is further likely to increase the demand for decorative concrete for residential application, during the forecast period.
- The increase in the middle-class population, coupled with their increasing disposable income, has facilitated the expansion in the middle-class housing construction activities in the region, which further drives the demand for the decorative concrete market.
- Besides, the residential construction is also strong in North America, owingto high housing demand because of the growing populations'demand for homes, and the trend of nuclear families, which is further projected to drive the demand for the decorative concrete market, during the forecast period.
- Besides, Europe has been witnessing the healthy recovery of construction activities, which is expected to further increase the demand for decorative concrete in the years to come.
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China to Dominate the Asia-Pacific Region
- China’s construction industry developed rapidly, due to the central government’s push for infrastructure investment, as a means to sustain economic growth.
- “Made in China 2025” was introduced by the government, the initiative is aimed at improving industry efficiency, product quality, and brand reputation. This may spur the development of domestic manufacturers and may increase competitiveness.
- The Chinese government rolled out massive construction plans, including making provision for the movement of 250 million people to its new megacities over the next ten years, despite efforts to rebalance its economy to a more service-oriented form.
- Besides, there are numerous airport construction projects, which are either in development or planning stage. These include Beijing Capital International Airport, Chengdu Shuangliu International Airport, Chongqing Jiangbei International Airport, Guangzhou Baiyun International Airport, etc.
- Therefore, with all such investments in construction and projects coming up in the country, the demand for the decorative membrane is also expected to increase for construction purposes in the coming years.
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