Slate is a mineral or a fine grained metamorphic rock formed from shale. Shale is a rock or a parent rock that is made up of clay minerals. It metamorphoses into various other rocks such as slate, phyllite, schist, or gnesis, when subjected to a varied degree of heat and pressure. Slate is the least metamorphosed rock that is available. It is strong and durable. Slate has a dull appearance and is available in various colors, ranging from dark grey, green, and purple to red. The color of the product primarily depends on the amount of iron and organic materials present in it.
Slate is mined from open pit quarries with the help of heavy machineries. It is foliated and easily splits into thin smooth-surfaced layers and flat and parallel planes. After mining, slate is transported for storage and processing. It primarily composes of mica or clay minerals subject to degree of metamorphism. Slate also contains some amount of quartz, feldspar, calcite, pyrite, hematite, and other minerals.
Slate is primarily used for roofing, flooring, and flagging in the building & construction industry due to its high durability and attractive appearance. It is also used for interior flooring, exterior paving, dimension stone, and decorative aggregate. Slate absorbs minimal moisture, and stands up well in contact with freezing water. Therefore, it is used widely in the building & construction industry. High cost is the major drawback of the slate minerals market. Installation cost of slate is higher than that for other roofing materials. Therefore, demand for slate is primarily confined to high-end projects and prestige architecture. Slate is also used for making chalkboards, student writing slates, billiard tables, cemetery markers, whetstones, and tabletops. It is also employed for making electric panels and switch boxes, as it is a good insulator of electricity.
Europe dominated the slate minerals market across the globe in 2016. It was followed by North America and Asia Pacific. Spain is a key producer and exporter of slate mineral in Europe. About 90% of slate used in roofing applications in Europe originates from the slate industry in Spain. The production of slate was estimated at 4 million tons per year in 2016. France was the prominent importer of slate in Europe in 2016. The country imported 24% of slate in the region in 2016. High demand for product in Europe and North America can be ascribed to the high standard of living of the people in these regions. High economic growth and significant investments in the building & construction industry in Asia Pacific are anticipated to boost the slate minerals market in the region. China and India are the major producers of slate in Asia Pacific. Japan was the key exporter of slate in 2016. Middle East & Africa and Latin America held low share of the slate minerals market in 2016. The market in these regions is anticipated to expand at a steady pace during the forecast period.
Key players operating in the global slate minerals market include IAC Minerals Private Limited, Galaxy Impex, Galbanox, and Westone Natural Stone Slate Co. Ltd.
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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
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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 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.