Granite Market: Overview
Granite is an igneous rock which is developed due to the interlocking between crystals of feldspar, quartz, and mica. Other minerals are also present in minor quantities. Granite constitutes about 70% to 80% of the Earth’s crust. It is majorly found as large mountain ranges.
Different theories about the origin of granite have existed for more than 150 years. The two most prominent theories that exists currently are the hyper-metamorphic theory and the magmatic theory.
The color of granite depends on its mineral composition. It is predominantly found in white, gray or pink color.
The term granitic is used for granite as well as such igneous rocks that have similar texture to that of granite, but somewhat different origin and composition. Granite-like rocks primarily comprise quartz, feldspar, and mica with some amphibole minerals. Their interlocking structure is slightly equigranular matrix of quartz and feldspar, with mica and amphibole scattered in between. This scattered presence of mica and amphibole minerals can be majorly observed in light-colored granites.
Granite Market Trends
Granite is a hard stone and entails skill to hand-carve it. It is utilized for making sculptures, memorials, and gravestones. It has also been widely employed as flooring tiles and dimension stones. In modern architecture, granite slabs and tiles are used to make countertops, bar tops, fireplaces, staircases, murals, paving stones, and curbings. They are also utilized as building stones for bridges, memorials, monuments, and buildings. A form of granite, known as azurite granite, is primarily employed as a gemstone and also for construction purposes.
The usage of granite in household construction is increasing; however, there is concern regarding the radiations from granite being harmful to health. Granite is also a natural source of radiation similar to most natural stones. The concern regarding radiation has been raised due to reports of higher radioactivity in some granites. Alkali feldspar is a common constituent of granite. Potassium-40 is a radioactive isotope of weak emission and is abundantly present in alkali feldspar. Uranium and Thorium are also found in granite. Concern about granite building materials being health hazard arises due to these factors.
In the construction industry, the granite is employed in either the crushed form or dimensional form. Granite rock climbing is also popular as a sport, because of its soundness, steepness, friction, and crack systems. Consequently, artificial rock climbing walls in many theme parks and gyms are given the appearance and feel of granite.
Granite Market Segmentation
In terms of color, the granite market can be segmented into black, white, and colored. In terms of application, the market can be segmented into architecture, construction, and others.
Granite Market: Region-wise Outlook
Granite and related industries are considered to be some of the oldest industries in the world. The U.S., China, India, Brazil, Italy, Sweden, Germany, and Spain are major exporters of granite. According to the U.S. Geological Survey, domestic production of granite in the U.S. was estimated to be 1.48 billion tons in 2016. The granite was found in crushed stone form and was said to be valued at more than US$ 16.2 billion.
Granite Market: Key Players
Key players operating in the granite market include Ablegroup Berhad, American Marazzi Tile Inc., CaesarStone, Cosentino S.A., Craig Baker Marble Co. Inc., Levantina y Asociados Minerals SA, Dakota Granite, Daltile, Duracite Inc., JNR Granite Import & Export Ltd, Precision Countertops, Granite Transformations, American Marble & Stoneworks Inc., and Vangura Surfacing Products 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.
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.