Engineered Stone Market Demand Would Increase Rapidly
Engineered Stone Market: Introduction
- Engineered stone is a composite material, which is also known as agglomerated stone. It is made by binding crushed stone with adhesive such as polymeric resin or cement mixture. Polymer concrete, engineered quartz, and engineered marble stone are few of the engineered stones available in the market.
- Engineered stone is widely used in kitchen countertops, walls, and flooring applications. Engineered stone is non-porous and is harder as well as flexible than natural stone. They are resistant to bacterial growth and thus help in maintaining a hygienic environment.
- Engineered stones do not crack due to the presence of polymeric resins such as epoxy, polyester, etc. These polymeric resins prevent cracking of engineered stone under flexural pressure and allow flexibility to the stone.
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Key Drivers of Global Engineered Stone Market
- Engineered stones are environment-friendly, as 94 % of its content includes crushed waste stone left in quarries or from natural stone beds. Rise in demand for environment-friendly and sustainable building products for various applications such as kitchen worktops, flooring, raised flooring, internal cladding, vanity tops, and bathroom furnishings for residential and commercial construction projects is driving the global engineered stone market.
- Increase in awareness about growing pollution is driving contractors as well as construction material manufacturer to utilize as well as produce recyclable engineered stone. This is expected to fuel the global market during the forecast period.
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- Rapid growth of the building & construction industry across the globe is one of the other prime reasons driving the global engineered stone market. Engineered stone can be produced in large sizes and are non-porous in nature. These can be used in wet areas such as washrooms, swimming pools, showers, bath tubs, etc. All these factors are expected to boost the market growth during the forecast period.
Rise in Demand for Cement Adhesive for Manufacturing of Engineered Stone
- Bonding agents that are inert and do not produce any form of allergens are driving the demand for cement adhesives for engineered stone. This may provide lucrative opportunities to the manufacturers of engineered stone in the market.
- Focus on recyclable engineered stone products, such as porcelain sink, liquor bottles, beer bottles, wine bottles, and perfume bottles, etc. with unique aesthetic appeal is anticipated to create several growth opportunities in the global market
Discoloration of Engineered Stone Due to UV Exposure Likely to Hamper Market
- Engineered stone contain polymeric resins, which are not UV stable leading to discoloration of the stone and breakdown of the resin binder. Continuous exposure to UV rays leads to hardening of binding agents, which results in loss of flexural strength of engineered stone over time. Therefore, these stones are not suitable for outdoor applications.
- Engineered stones, such as quartz, is less heat-resistant as compared to granite, limestone, and marble. Quartz-based engineered stone can be damaged by sudden temperature change and are more sensitive to both thermal expansion and contraction. All these factors are expected to restrain the global engineered stone market during the forecast period.
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Asia Pacific to Hold Leading Share of Global Engineered Stone Market
In terms of region, the global engineered stone market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of consumption, Asia Pacific is a leading region. The engineered stone market in countries, such as China, India, Japan, Malaysia, Thailand, etc., is expected to grow at a significant pace during the forecast period. Rising urbanization, growing construction activities, and changing economic status are some of the prime factors boosting the market in the region.
- Europe is an established market, in terms of consumption of engineered stone. Italy is a leading supplier of engineered stone in the region. Repairing and renovation activities in Germany, France, and the U.K. are likely to boost the demand for engineered stone during the forecast period. Countries in Rest of Europe, such as Denmark, the Netherlands, Poland, etc., also expected to provide lucrative opportunities to the manufacturers of engineered stone due to rising construction index and growing construction activities in the region.
- In North America, the U.S. is a leading consumer of engineered stone. Growing emphasis on utilizing recyclable and green construction materials are likely to propel the demand for engineered stone in the region.
- The market in Latin America and Middle East & Africa is expected to expand at a moderate pace during the forecast period. High import cost and inadequate production infrastructure are anticipated to hamper the market growth in these regions. However, rising construction activities in Brazil, GCC, and South Africa due to increase in expat population is expected to boost the market in Latin America and Middle East & Africa.
Key Players in Global Market
Research & development and capacity expansion are key strategies adopted by top players operating in the global engineered stone market.
Key players operating in the global engineered stone market include:
- Granite & Marble Specialties
- St.A. WORLD-WIDE
- Viatera USA
- Santa Margherita Spa
- Stone Italiana S.p.A.