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Travertine is a terrestrial sedimentary rock, composed of calcium carbonate, and has a crystalline texture. It is usually in the form of a limestone that forms mostly in and around hot mineral springs. The presence of organisms such as algae, bryophytes, and macrophytes are responsible for the precipitation and formation of carbonate minerals, and thus, they become porous in nature. Travertine is mainly used for architectural aesthetics and are thus in high demand in the urban construction sector. This is thus projected to act as a key growth driver of the global travertine market.
Polished travertine is shiny, smooth, and bright and looks very similar to marble. It also reflects light and may be slippery when wet. Based on type, it may be filled or unfilled where filled travertine is smoother compared to its only counterpart, i.e., unfilled. Travertine was earlier used in most of the historical buildings such as complexes, buildings, monuments, and temples. Besides this, they are also used in high quantity in interior cladding, exterior flooring, and bath designs. Thus the demand for travertine is high from both residential and commercial sectors. This, ultimately depicts that the global travertine market will witness significant growth rates during the forecast period set between 2021 and 2031.
The report on the global travertine market provides a 360-degree overview of the market and factors attributing to its growth or downfall. It also discusses the table of segmentation and lists the key segments that might witness highest growth during the forecast period with factors supporting its growth. The impact of the COVDI19 pandemic on this market and how players can adapt to various strategies to ensure smooth revenue generation during and post pandemic era is also discussed in this report. The report is available for sale on the company website.
The nature of market for Travertine is consolidated on account of the presence of a few players. The competition is likely to remain intense on account of the increasing efforts by players to get more infrastructure projects in collaboration with local and national governments. Besides this, some of them are engaging in collaborations, joint ventures and merger and acquisition strategies to ensure a notable position in the market competition.
Some of the key players of the global Travertine Market include:
The increasing investment in new infrastructural development especially in the developing nations and need to preserve already remaining sculptures and monuments stands as a key factor bolstering the growth of the global travertine market. This is likely to continue so in the forecast period as well. Besides this, the advancements in architectural and construction technology has eased travertine application easier and time efficient as compared to earlier times and this will also help boost its demand in the market. Moreover, the aesthetic appeal of infrastructure made of travertine and rise in disposable incomes of people, along with the increased living standards are further expected to help create new growth opportunities for this market in the long run.
Geographically, the global travertine market is widespread into the regions of North America, Latin America, Europe, Latin America, and the Middle East and Africa. Each of these regions are further categorized into nations. For instance, North America covers nations such as the United States, Canada, Mexico, Greenland, Bermuda, and so on for other regions. Among all these, North America and Europe collectively hold dominant positions in the global travertine market on account of the presence of high number of historic monuments that require frequent quality check and maintenance.
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Travertine Market
