Slate Market Estimated to Experience a Hike in Growth by 2028
Slate is a type of metamorphic rock formed by metamorphism of sedimentary rock that consist of volcanic ashes and clay as key components of this highly useful stone for construction purposes. Slate building solutions are considered highly durable and are widely used in all parts of the globe as construction material, both interior and exterior of the building. Slate is considered as highly versatile building block for building purposes due to its exceptional properties allowing to make come back among other building material. In terms of properties, slate is capable of retaining its natural color in the presence of Ultra Violet light and have very low impermeability to water. It also remain unaffected when exposed to high seasonal temperatures and reactive chemicals. Owing to these properties, it application become highly useful for purposes such as roofing and flooring, and flagging and make building durable as well as attractive. In the recent years, slate are being widely used for cladding panels ideally considered as optimal solution for walls due to its high performance and low maintenance. Slate is highly sustainable material as compared to cement, slate cladding apart from giving elegant look to the architecture. In the recent years, the companies are looking for specific production requirements rather than maintain inventory and selecting block sizes and color ranges on a custom basis from certain beds in quarries. Across all parts of the globe, slate tiles are becoming important component of buildings with modern designs.
Forecast factors and related impact on the market
The natural slate is gaining significant adoption as a siding material providing offering high reliability in terms of performance and attractive design at the same time. Traditionally, the slate has always been popular among installers for roofing solution, slate siding is also becoming popular among end users. The slate building products are considered as hygienic due to its anti-bacterial, chemical free, stain-resistant, noncombustible nature that has made it popular choice among home owners looking to construct home with healthy living environment. In this highly attractive market expected to grow at high CAGR over the forecast period, the companies are paying special focus on quality control measures across entire production processes before being shipped to the end users. Contrary to other commercial products, the production process of slate involves the combination of technology and craftsmanship to read, split and sort out materials. The companies are offering consumers slate products to incorporate into commercial or residential project for with enhanced customer service offering consultation services associated with innovative application areas of slate. Adding to this, the suppliers are also purchasing used slates in larger quantities. To maintain market penetration, the leading reputed manufacturers and exporter of slate globally offers slate products as per specific requirement of the clients in terms of shape, size and colors.
Global Slate: Market Segmentation
On the basis of use, the global Slate market has been segmented as:
Roofing Tiling Landscaping Structural
On the basis of application, the global Slate market has been segmented as:
In April 2018, Willow Creek, the Minnesota-based paver manufacturer, stated to use new infusion technology to enhance color retainment, reliablity and minimize absorption rates.The product series will includes Slatestone, Slatestone Grande, Dekrastone and Eurostone.
In November 2017, Magraf opened logistics hub in Italy for stone presentation and distribution spanning a huge 137,000 m² in Gambellara. Various materials, including marble, granite, onyx, natural stone and a range of technical materials such as ceramic slabs and quartz will be available for the display and purchase.
Opportunities for Market Participants
One of the most attractive opportunity for slate manufacturer is offering custom slate building product and gain competitive advantage over competitors by providing engineering/design services and supply products as per architectural drawings. In order to increase sales revenue, the manufacturers are targeting customers by directly from the source to installers such as builders, designers, homeowners, and wholesalers traditionally dominated by regional suppliers. However, the purchasing process through a supplier will remain leading sales channel in the Slate market.
Brief Approach to Research
FMI will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the use and applications of the Slate covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments. The upcoming investment in the construction and building sector especially in the emerging economies of Asia Pacific region are the driving force for the rise in investment in Slate. The derived data is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes. Adding to this, maintaining good relationships with fine installers throughout the globe will also play major role to target new geographies ultimately enhancing market presence.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
An overview of the Slate market, including background and evolution.
Macroeconomic factors affecting the Slate market and their potential.
Market dynamics such as drivers, challenges and trends.
Detailed value chain analysis of the Slate market.
Cost structure of the products and segments covered in the global Slate market.
In-depth pricing analysis by key product segments, regions and major market participants.