Engineered Stone Market: Introduction

  • Engineered stone is a composite material, which is also known as agglomerated stone. It is made by binding crushed stone with adhesive such as polymeric resin or cement mixture. Polymer concrete, engineered quartz, and engineered marble stone are few of the engineered stones available in the market.
  • Engineered stone is widely used in kitchen countertops, walls, and flooring applications. Engineered stone is non-porous and is harder as well as flexible than natural stone. They are resistant to bacterial growth and thus help in maintaining a hygienic environment.
  • Engineered stones do not crack due to the presence of polymeric resins such as epoxy, polyester, etc. These polymeric resins prevent cracking of engineered stone under flexural pressure and allow flexibility to the stone.

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Key Drivers of Global Engineered Stone Market

  • Engineered stones are environment-friendly, as 94 % of its content includes crushed waste stone left in quarries or from natural stone beds. Rise in demand for environment-friendly and sustainable building products for various applications such as kitchen worktops, flooring, raised flooring, internal cladding, vanity tops, and bathroom furnishings for residential and commercial construction projects is driving the global engineered stone market.
  • Increase in awareness about growing pollution is driving contractors as well as construction material manufacturer to utilize as well as produce recyclable engineered stone. This is expected to fuel the global market during the forecast period.
  • Rapid growth of the building & construction industry across the globe is one of the other prime reasons driving the global engineered stone market. Engineered stone can be produced in large sizes and are non-porous in nature. These can be used in wet areas such as washrooms, swimming pools, showers, bath tubs, etc. All these factors are expected to boost the market growth during the forecast period.

Rise in Demand for Cement Adhesive for Manufacturing of Engineered Stone

  • Bonding agents that are inert and do not produce any form of allergens are driving the demand for cement adhesives for engineered stone. This may provide lucrative opportunities to the manufacturers of engineered stone in the market.
  • Focus on recyclable engineered stone products, such as porcelain sink, liquor bottles, beer bottles, wine bottles, and perfume bottles, etc. with unique aesthetic appeal is anticipated to create several growth opportunities in the global market

Discoloration of Engineered Stone Due to UV Exposure Likely to Hamper Market

  • Engineered stone contain polymeric resins, which are not UV stable leading to discoloration of the stone and breakdown of the resin binder. Continuous exposure to UV rays leads to hardening of binding agents, which results in loss of flexural strength of engineered stone over time. Therefore, these stones are not suitable for outdoor applications.
  • Engineered stones, such as quartz, is less heat-resistant as compared to granite, limestone, and marble. Quartz-based engineered stone can be damaged by sudden temperature change and are more sensitive to both thermal expansion and contraction. All these factors are expected to restrain the global engineered stone market during the forecast period.

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Asia Pacific to Hold Leading Share of Global Engineered Stone Market

In terms of region, the global engineered stone market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

  • In terms of consumption, Asia Pacific is a leading region. The engineered stone market in countries, such as China, India, Japan, Malaysia, Thailand, etc., is expected to grow at a significant pace during the forecast period. Rising urbanization, growing construction activities, and changing economic status are some of the prime factors boosting the market in the region.
  • Europe is an established market, in terms of consumption of engineered stone. Italy is a leading supplier of engineered stone in the region. Repairing and renovation activities in Germany, France, and the U.K. are likely to boost the demand for engineered stone during the forecast period. Countries in Rest of Europe, such as Denmark, the Netherlands, Poland, etc., also expected to provide lucrative opportunities to the manufacturers of engineered stone due to rising construction index and growing construction activities in the region.
  • In North America, the U.S. is a leading consumer of engineered stone. Growing emphasis on utilizing recyclable and green construction materials are likely to propel the demand for engineered stone in the region.
  • The market in Latin America and Middle East & Africa is expected to expand at a moderate pace during the forecast period. High import cost and inadequate production infrastructure are anticipated to hamper the market growth in these regions. However, rising construction activities in Brazil, GCC, and South Africa due to increase in expat population is expected to boost the market in Latin America and Middle East & Africa.

Key Players in Global Market

Research & development and capacity expansion are key strategies adopted by top players operating in the global engineered stone market.

Key players operating in the global engineered stone market include:

  • Granite & Marble Specialties
  • St.A. WORLD-WIDE
  • Diresco
  • Viatera USA
  • Quartzforms
  • RMS
  • Santa Margherita Spa
  • Silestone
  • Stone Italiana S.p.A.
  • Tchnistone
  • VICOSTONE
  • Topzstone

Global Engineered Stone Market: Research Scope

Global Engineered Stone Market, by Product

  • Slab
  • Block

Global Engineered Stone Market, by Process

  • Cold Curing
  • Hot Curing

Global Engineered Stone Market, by Application

  • Kitchen Countertops
  • Bathroom Countertops
  • Flooring
  • Facades
  • Walls
  • Others

Global Engineered Stone Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa 

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
  • Europe
  • 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.

2. Insights and Tools

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.

3. Actionable Results

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.

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