Quartz Powder
Market is rapidly growing due to the increasing commercial construction
activities coupled with rising spending on residential construction in most of
the emerging economies. Increasing commercial construction activities in
various countries is one of the chief factors driving the growth of global
quartz powder market. Middle East region has attracted significant private and
public investment over the last few years for commercial construction and it
has benefited the growth of regional tourism industry. Large-scale commercial
projects such as Al Maktoum International Airport (Dubai), Dubailand (Dubai),
etc. has boosted the growth of regional construction industry.
Apart from
Middle East region, large-scale commercial projects such as Beijing Airport
(China), LaGuardia Airport (New York), Second Avenue Subway (New York), etc.
are positively influencing the growth of global commercial construction sector.
The product is widely used for flooring, facades, indoor countertops, etc. in
the commercial constructions. Such trends will prosper the product demand in
coming years.
Another factor
that will drive the growth of global market is rising spending on residential
construction in the U.S. In 2018, construction spending in the U.S. accounted
for more than USD 500 billion and accounted for more than 40% of the total
construction spending by the U.S. High standard of living, higher disposable
income levels, increasing population are some of the factors boosting the
residential construction activities in the country.
Apart from the
U.S., initiatives from the governments of Asian countries such as Housing for
all & Pradhan Mantri Awas Yojana from government of India coupled with 100
construction projects sanctioned by Beijing Municipal Commission of Development
and Reform to improve people's livelihoods has positively influenced the
residential construction spending in the Asia Pacific region. The specialty powder
is extensively used for indoor countertops, flooring, etc. in the residential
sector. Rising spending on residential construction will support the demand for
specialty powder in near future.
Based on
application, quartz powder market is segregated into kitchen countertops,
flooring, facades and others. Flooring application category is likely to have
substantial market share throughout the study period. The product provides
substantial, durable and attractive flooring without any sealant requirement.
The product is widely used to offer chemical resistant, environment friendly
and cost-effective flooring solutions. It will prosper the growth of flooring
application segment in near future. façade application category will witness
significant growth rate throughout the study period. It can be attributed to
versatility and resistance associated with the quartz powder.
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Based on
end-use, quartz powder market is classified into residential, commercial and
industrial construction. Commercial end-use segment is likely to have
substantial market share during the study period. Increasing commercial construction
activities in tourism-based countries as well as developed countries is the
chief driver for the growth of this end-use segment. Residential end-use
segment is likely to have significant growth rate market throughout the study
period. It can be ascribed to increasing spending on residential construction
in developed as well as developing economies.
North America
region is likely to witness substantial share in market share throughout the
study period. It can be ascribed to increasing spending on residential as well
as non-residential construction in the U.S. Asia Pacific region is likely to
witness high growth rate during the study period. Rising population, increasing
urbanization, development in per capita income and standard of living of middle-class
populace, investments in construction projects are some of the factors boosting
the growth of regional construction industry and will prosper the product
demand in the coming years.
In order to
ease pressure on the existing infrastructure, government of Saudi Arabia has
initiated several large-scale construction projects, owing to rapidly
increasing infrastructure requirements coupled with population expansion in the
region. It will prosper the regional product demand in the coming years.
Additionally, developments in the regional tourism industry will also boost the
construction activities in the region, which in turn, will augment the regional
market during the forecast timespan.
Key product
manufacturers in quartz powder market are Caesarstone, Vicostone, Compac, LG
Hausys, Dupont, Technistone, Stone Italiana, Cosentino Group, CR Lawrence, etc.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Connect with us twitter | LinkedIn | Facebook | Google+
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