Concrete Accessories Market Size was valued at USD XX Billion in 2022. The concrete accessories market industry is projected to grow from USD XX Billion in 2023 to USD XX Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2024 - 2032). The world's rising urbanization and infrastructure development projects are major market drivers driving the industry and creating a steady need for concrete accessories.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
It is anticipated that the market for concrete accessories will continue to increase as urbanization continues on its upward trend. The process through which a country's or region's population shifts from rural to urban areas—leading to the rise and expansion of urban areas—is known as urbanization. People moving from rural to urban settings is referred to as urbanization. An increase in demand is caused by this population shift for infrastructure, amenities, and structures for both residential and commercial use. The main building materials are concrete accessories for creating homes, skyscrapers, highways, bridges, and other urban infrastructure. For instance, in April 2022, the independent international organization World Economic Forum, headquartered in Switzerland, reported that over 4.3 billion people, or 55% of the world's population, resided in urban areas. By 2050, the figure is predicted to increase to 80%. Thus, the concrete accessories markets are expanding due to the growing urbanization trend.
Technological advancements in production and application mostly drive the concrete accessories industry's expansion. Accordingly, the advancements in production methods, including automation and digitization, that allow for customization, improve efficiency, accuracy, and consistency in the manufacturing of precast parts, and improve product quality are favorably impacting the expansion of the concrete accessories market. In addition, the use of sophisticated design software is driving market expansion since it provides more architectural freedom and enables designers to construct intricate, aesthetically beautiful buildings out of precast components. These technological developments have also increased the potential uses of concrete accessories and improved consumer appeal.
The demand for concrete accessories was fueled by government attempts around the world to offer funding and subsidies to make homes affordable, particularly for low-income families. Customers were able to invest in new homes by taking out low-interest loans due to these subsidies. Under the 'First Home Owners incentive' program, the Australian government offers first-time home builders or purchasers a $15,000 incentive. Under the 'Housing for All by 2022' aim, the Indian government is offering funds for the construction of new homes and the rehabilitation of slums. Cement demand surged during the historic period as a result of government programs encouraging people to build new homes and boosting the concrete accessories market. Thus, driving the concrete accessories market revenue.
The concrete accessories market segmentation, based on type, includes Stamped Concrete, Stained Concrete, Concrete Overlays, Colored Concrete, Polished Concrete, Epoxy Concrete, and Others. The stamped concrete segment dominated the market because of its extraordinary adaptability and capacity to mimic the appearance of upscale materials. These concrete accessories create surfaces that resemble real stone, brick, or tile by imprinting patterns and textures onto recently poured concrete. Stamped concrete is a popular material because it looks good and gives homeowners an affordable way to obtain elegant and professional finishes.
The concrete accessories market segmentation, based on application, includes Floors, Walls, Driveways & sidewalks, Patios, Pool decks, and Others. The floors category generated the most income. The most adaptable and widely utilized flooring concrete accessories in both the home and commercial sectors is concrete. It is known as polished concrete, and it offers modern flooring. Installing it is simple, particularly when a concrete slab is available for staining, polishing, or applying an overlay or ornamental coating.
The concrete accessories market segmentation, based on end use industry, includes Residential and Non-residential. The non-residential category generated the most income from nations' growing spending on roads, shopping centers, flyovers, hospitals, and educational facilities. Moreover, during the projection period, the non-residential segment's growth would be bolstered by the strong demand for concrete accessories for sports complexes, stadiums, and airports.
Figure 1: Concrete Accessories Market, by End Use Industry, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American concrete accessories market will dominate this market because both commercial and residential environments are becoming increasingly in need of concrete accessories. The growing trend of remodeling and restoration projects and the increasing number of new residential and commercial construction projects have made North America the leader in concrete accessories sales.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.
Figure 2: Concrete Accessories Market Share By Region 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe concrete accessories market accounts for the second-largest market share due to the growing use of these concrete accessories in infrastructure and non-residential buildings. By lowering labor costs and building times, the use of concrete accessories has expanded the market in the area. Further, the German concrete accessories market held the largest market share, and the UK concrete accessories market was the fastest growing market in the European region.
The Asia-Pacific Concrete Accessories Market is expected to grow at the fastest CAGR from 2024 to 2032. The demand for concrete accessories would rise due to rising infrastructure development investments from nations like China, India, and Japan. Furthermore, the expanding residential sector in these nations will increase demand for concrete accessories because of their affordability, stimulating the market. Moreover, China’s concrete accessories market held the largest market share, and the Indian concrete accessories market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the concrete accessories market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the concrete accessories industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the concrete accessories industry to benefit clients and increase the market sector. In recent years, the concrete accessories industry has offered some of the most significant advantages to medicine. Major players in the concrete accessories market are attempting to increase market demand by investing in research and development operations, including PPG Industries Inc. (US), The Sherwin-Williams Company (US), Boral Limited (Australia), RPM International Inc. (US), CEMEX, S.A.B. de C.V. (Mexico), BASF SE (Germany), Sika AG (Switzerland), UltraTech Cement Limited (India), and others.
The company Boral Ltd. (Boral) produces and distributes building and construction supplies. Stone, windows, timber, roofing, concrete laying, masonry products, fly ash, cement, quarry materials, pre-mix concrete and asphalt, clay bricks and pavers, and light building items are some of its main offerings. Boral also provides materials technical services, architect training, and circular materials solutions. The company provides services to the engineering, infrastructure, and residential as well as non-residential building markets.
Ready-mix and cement products are produced by UltraTech Cement Ltd. (UltraTech). The company offers a variety of products, such as wall care putty, white cement, portland composite cement, conventional Portland cement, portland blast furnace slag cement, and pozzolana cement. Additionally, it produces ready-mix concrete that includes specialty concrete and building supplies such as autoclaved aerated concrete blocks, grouting, jointing, plastering, and waterproofing solutions. Products from UltraTech are used in the planning stages of numerous building projects.
PPG Industries Inc. (US)
The Sherwin-Williams Company (US)
Boral Limited (Australia)
RPM International Inc. (US)
CEMEX, S.A.B. de C.V. (Mexico)
BASF SE (Germany)
Sika AG (Switzerland)
UltraTech Cement Limited (India)
March 2023: A new line of pumps, transit mixers, and concrete mixers was introduced by Schwing Stetter India. The new product line is intended to satisfy India's rising need for effective and high-quality concrete accessories.
Stamped Concrete
Stained Concrete
Concrete Overlays
Colored Concrete
Polished Concrete
Epoxy Concrete
Others
Floors
Walls
Driveways & sidewalks
Patios
Pool decks
Others
Residential
Non-residential
| Report Attribute/Metric | Details |
| Market Size 2022 | USD XX Billion |
| Market Size 2023 | USD XX Billion |
| Market Size 2032 | USD XX Billion |
| Compound Annual Growth Rate (CAGR) | 6.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, End Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea |
| Key Companies Profiled | PPG Industries Inc. (US), The Sherwin-Williams Company (US), Boral Limited (Australia), RPM International Inc. (US), CEMEX, S.A.B. de C.V. (Mexico), BASF SE (Germany), Sika AG (Switzerland), and UltraTech Cement Limited (India) |
| Key Market Opportunities | Rising government initiatives for boosting the construction sector |
| Key Market Dynamics | Increase in urbanization and developmental projects Surge in the construction industry |
Frequently Asked Questions (FAQ) :
The concrete accessories market size was valued at USD XX Billion in 2023.
The market is projected to grow at a CAGR of 6.00% during the forecast period, 2024-2032.
North America had the largest share in the market.
The key players in the market are PPG Industries Inc. (US), The Sherwin-Williams Company (US), Boral Limited (Australia), RPM International Inc. (US), CEMEX, S.A.B. de C.V. (Mexico), BASF SE (Germany), Sika AG (Switzerland), and UltraTech Cement Limited (India), among others.
The floors category dominated the market in 2023.
The non-residential category had the largest share in the market.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
