Quartz Powder Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4374
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.
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.
Quartz Powder Market, By Application, 2014-2025
- Kitchen Countertops
Quartz Powder Market, By End-use, 2014-2025
The above information has been provided for the following regions and countries:
- North America
- The Netherlands
- South Korea
- Latin America
- South Africa
- LG Hausys
- Stone Italiana
- Cosentino Group
- CR Lawrence
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