Increasing demand from building & construction industry to drive the growth of global engineered marble market
According to TechSci Research report, “Global Engineered Marble Market By Product Type (Solid Surface v/s Engineered Quartz Stone), By Thickness (10-12mm, 12-15mm, 15-18mm, Above 18mm), By Mode of Application (Interior v/s Exterior), By Distribution Channel (Store-based v/s Non-store-based), By Application (Kitchen Countertops, Facades, Flooring, Bathroom, Others), By End User (Commercial, Residential, Industrial), By Region, Forecast & Opportunities, 2025”, the global engineered marble market is expected to grow at a steady rate during the forecast period on account of the growth in residential construction, increase in disposable income, and rising urbanization in emerging economies. Additionally, associated advantages such as affordable prices, low cost of maintenance, durability, aesthetic value, among others associated with the engineered marble are further anticipated to increase their demand during forecast period. Furthermore, engineered marble is more advanced as compared to normal marble, available in different shapes, sizes & colors, among others. Also, increasing R&D activities and spending by the major players & governments across the globe are anticipated to create lucrative opportunities for the market to grow during the forecast period. However, engineered marble is vulnerable to stains and prone to stress cracking if produced without gel coats. Therefore, production of engineered marble without utilization of gel coats might hinder the growth of market during forecast period. Additionally, the increasing demand supply gap due to presence of a smaller number of players in the market is restricting the growth of market across the globe.
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The global engineered marble market is segmented based on product type, thickness, mode of application, distribution channel, application, end user, company and region. Based on thickness, the market can be categorized into 10-12mm, 12-15mm, 15-18mm and above 18mm. the 15-18mm thickness segment is expected to dominate the market since most of the engineered marble available in the market used for different purposes are available in the range of 15-18mm thickness. Based on distribution channel, the market can be divided into store based and non-store based. The store based segment is expected to dominate the market during forecast period. This can be ascribed to the consumer behavior of buying such products from retail shops or exclusive stores. Based on end user, the market can be fragmented into commercial, residential and industrial. The commercial segment is expected to dominate the market attributable to the extensive use of engineered marbles in construction industry for laying pavements, stairs, kitchen platforms, flooring, sculpture, external walls, among others.
Falat Sang Asia Co, Grupo Cosentino, E. I. du Pont de Nemours and Company, Compac marble, Caesarstone Ltd, Hanwha L&C Corporation, LG Hausys Ltd., Herman Tile & Marble, Johnson Marble & Quartz, RK Marble and others are some of the leading players operating in global engineered marble market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“Asia-Pacific is expected to be dominate the market for engineered marble during the forecast period, owing to the rapid urbanization and industrialization in the region. Additionally, growth in residential construction, increase in disposable income in emerging economies such as China and India are further driving the market. Furthermore, growth of engineered marble manufacturing facilities in India and China is anticipated to propel the market over the course of next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Engineered Marble Market By Product Type (Solid Surface v/s Engineered Quartz Stone), By Thickness (10-12mm, 12-15mm, 15-18mm, Above 18mm), By Mode of Application (Interior v/s Exterior), By Distribution Channel (Store-based v/s Non-store-based), By Application (Kitchen Countertops, Facades, Flooring, Bathroom, Others), By End User (Commercial, Residential, Industrial), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global engineered marble market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global engineered marble market.
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