Artificial Quartz Stone is manufactured from either a natural slab that has been polished or engineered quartz composite. Quartz is one of the hardest natural materials on earth and has an appearance similar to granite. It is made of silicon dioxide. Pure, natural quartz slabs are very expensive as compared to its artificial counterpart and are therefore quite uncommon as countertops. The engineered type is made of 93 to 97 percent ground quartz mixed with resins, binders and pigments. This combination is poured into molds and permitted to harden, then finished into the shape and style desired. This type of counter is much more affordable and common than the natural slab. The Artificial Quartz Stone is utilized for kitchen and bathroom counters, no matter in personal home or commercial establishments or other industries.
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Market Trends of Artificial Quartz Stone Industry:
· The rising requirement for aesthetic looks in residential, commercial, and public spaces along with improvement in living standards of people is anticipated to drive the market over the forecast period.
· The sales volume of artificial quartz stone is expected to further increase due to rise in disposable income and consumer spending, ultimately leading to the market growth in the forthcoming years.
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· In the past few years, due to the increase in the prices of major raw materials, it is expected that the price of engineering quartz stone raw materials will keep rising in the short term. This factor is expected to be a restrain for the overall market growth.
· With the strong demand for engineering quartz stones downstream, it is anticipated that the prices of engineering quartz stones persist to rise in the coming years. However, the rise in energy, transport costs, and employee wages is expected play a crucial role in promoting the cost of quartz stone.
The Market Growth Artificial Quartz Stone of Market:
The Global Artificial Quartz Stone market is expected to grow at a substantial CAGR, during the forecast period, 2020–2026. With the surging urbanization and rising need for accommodating the migrating consumers, the figure of rental and new houses has amplified over the forecast period. This leads to an increase in rental houses which further leads to propulsion the secondary housing market, whereas the elevating number of new houses built bolsters the primary housing market.
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In terms of applications, the market is bifurcated into Residential Quartz and Commercial Quartz. Artificial quartz stone is majorly used in residential spaces, this factor is expected to boost the overall market growth. Therefore, residential quartz segment is projected to grow at an impressive CAGR, during the forecast period.
On the basis of regions, the market is classified into Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America. Countries such as China and India are major producers of artificial quartz stones; owing to this fact Asia- Pacific is projected to register a growth with substantial CAGR during the forecast period.
Conclusion:
The report by NPCS has helped many of the engineers, project consultants & industrial consultancy firms in India and worldwide. You can get this and other project reports too on the official website of NPCS. Many of the engineers, project consultant & industrial consultancy firms in India and worldwide use our project reports as one of the input in doing their analysis. The scope of the report includes assessing market potential, negotiating with collaborators, investment decision making, corporate diversification planning etc. in a very planned manner by formulating detailed manufacturing techniques and forecasting financial aspects by estimating the cost of raw material, formulating the cash flow statement, projecting the balance sheet etc.
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