Cultured stone is a blend of stone particles and resins that is combined with pigments to produce a wide range of colors and realistic, natural looking patterns. It consists of cultured marble, cultured granite, and cultured onyx. Cultured marble is a precise blend of polyester resin, catalyst, fillers, and pigments, thoroughly mixed and placed into open molds which are coated with a gelcoat. The gelcoat is especially formulated so as to produce a tough, durable, non-porous and shiny surface, resistant to chipping and scratching, and easy to maintain. Cultured stone is cast into molds to create specific pieces such as bathtubs, sinks, countertops, backsplashes, moldings and trim, shower walls, and shower pans. The molds are lined with a special gelcoat that binds to the mixture, creating a hard and transparent surface. After the pieces are cured, they are removed from the molds and polished to shine or given a honed, matte finish, depending on the preference of the customer.
Cultured marble products are generally coated in the mold with a clear or colored gelcoat. The outer layer provides maximum strength to the bonded matrix. It also makes the product waterproof, durable, and resistant to chipping. Depending on the process used for finishing, gelcoat also provides a shiny surface to the final product that adds to its luster. Cultured marble is primarily used to create different kitchen and bathroom products. It has several properties such as low maintenance cost, durability, and are also attractive, economical, and customizable in nature. Veining and patterns can be incorporated during the casting process, to create character, depth, and interest to the cultured marble products, which make them as beautiful as their natural counterparts.
Cultured marble does not require to be sealed. It is also easy to clean them with non-abrasive products. It is non-porous in nature that makes it tough and resistant to stains, mildew, and chips. Cultured marble is less expensive to fabricate and install than slab marble. However, when applied to a house, cultured marble enhances its aesthetic value, as natural stone products do. Cultured marble, being a cast product, is available in a wide range of colors and the pieces can be shaped to fit into the specific needs and decor of the customer.
Demand for technically advanced and superior quality products is the key driver of the global cultured marble market. Growth of the cultured marble market can be ascribed to the increase in demand for these materials from non-residential constructions such as hospitals and schools owing to their high resistance to biological contamination. Rise in usage of cultured marble in remodeling and construction activities due to their availability in various colors, shapes, and types at affordable prices has also contributed to the boost of its global market.
A key restraint to the expansion of cultured marble market is the presence of less number of players. Also, demand for cultured marble from end-user industries exceeds the supply. Availability of inexpensive labor and low procurement costs in developing countries are expected to propel the growth of the cultured marble market.
Based on geography, the global cultured marble market can be segmented into Asia-Pacific (APAC), Europe, North America, and the Rest of the World (RoW), Asia Pacific is the largest market for cultured marble. Rapid industrialization and growth of manufacturing industries in countries such as India, China and Japan are anticipated to boost the cultured marble market. Non-residential sector is the largest consumer of the cultured marble is the construction industry.
Key manufacturers in the cultured marble market are Majestic Marble & Glass Co., Jubilee Company, Royal Baths Manufacturing Company, and VirginiaMarble Manufacturers, Inc.
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.
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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.
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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.