A solid surface material is an advanced composite product used as an architectural and design material in a variety of residential and commercial applications. It is a solid, nonporous, homogeneous surfacing material, which is composed of acrylic resin and natural minerals. Solid surface materials offer design versatility, functionality, and durability. They are widely used for countertops, vanity tops, tub/shower walls, kitchen sinks, vanity basins, and laboratory benchtops in numerous industries including lodging, health care, banks, boutiques, and restaurants.
Global Solid Surface Materials Market: Overview
In terms of material, the solid surface materials market has been segmented into acrylic, alumina trihydrate, polyester, quartz, and others. Polyester-based solid surface materials are inexpensive, but they are considered inferior to acrylic-based solid surface materials. Polyester-based solid surface materials tend to impart more vibrant colors than acrylic-based materials. Acrylics are suitable for use in a fancy fabrication work such as thermoforming. In terms of end-user, the solid surface materials market has been classified into non-residential and residential. The non-residential segment is projected to expand at a significant rate during the forecast period, due to increased demand for solid surface materials from offices, hospitals, and schools.
Global Solid Surface Materials Market: Trends & Developments
Growth of the construction & remodeling industry is a major driver of the solid surface materials market. High prices of raw materials is likely to be a restraining factor for the market during the forecast period. High cost of finished products is a major challenge for the solid surface materials market. Rise in the use of aesthetically appealing designs with various colors and shapes to beautify homes is expected to drive the solid surface materials market in the near future. Availability of solid surface materials in various colors and shapes has also contributed to the solid surface materials market. Robust growth of the construction industry in residential and commercial segments is also projected to fuel the solid surface materials market in the next few years. However, presence of a very few players in the market is projected to hinder the solid surface materials market during the forecast period, as the demand is higher than the supply.
Global Solid Surface Materials Market: Regional Outlook
Based on region, the global solid surface materials market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to expand at the maximum rate during the forecast period. Rapid urbanization in non-residential units such as corporate offices, public toilets, malls and shopping complexes, hospitals, and schools is driving the solid surface materials market in Asia Pacific. High demand for solid surface materials in the construction industry in Asia Pacific is also expected to boost the market in the region during the forecast period.
Global Solid Surface Materials Market: Key Players
Key players operating in the global solid surface materials market are DuPont, REHAU, Wilsonart LLC, Breton S.p.A., Bradley Corporation, BLANCO, Huber Engineered Materials, Caesarstone, and KingKonree International China Surface Industrial Co., Ltd.
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.
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?
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