Global Soapstone Market Overview:
Soapstone which is also commonly known as steatite or soap rock is a talc-schist, which is a category of metamorphic rock. It contains a large amount of magnesium-rich mineral. Soapstone is produced by the process of dynamo thermal metamorphism and metasomatism, these occur in the areas wherein the tectonic plates are subducted with the process of changing rocks with the help of heat and pressure and also with the influx of fluids, but these processes are carried out without melting. These stones have been a medium for the carving of sculptures for thousands of years. Soapstone is comparatively very soft due to its high content of talc. The softer grade of these stones may feel very similar to soap whenever touched, hence the name of the stone is referred to as soapstone. A fixed hardness is not given for the soapstone as the amount of talc in it varies widely, from 30% that is used for architectural grades like the ones that are used for countertops, to 80% for the purpose of doing the carving. Soapstone is very easy to be carved on, it is also highly durable, heat-resistant and also has a great capacity for the storage of heat. Hence these stones have been used for the purpose of cooking and heating equipment for many thousands of years.
- Growing Purchasing Power of People Across the World
- Rising Popularity of Soapstone in Various Industries
- Regulatory Compliance with Soapstone
- Surging Technological Advancements in Construction and Building Industry in Developing Economies
- Increasing Imports and Exports of Soapstone Products
- Safety Related Concerns with Soapstone
- Aggressive Competition in Soapstone Market
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Golcha Group (India), Jai Vardhman Khaniz Pvt. Ltd (India), Katiyar Mining & Industrial (India), Levantina y Asociados de Minerales, S.A. (Spain), GEM Granite and Soapstone LLC (United States), Cosentino S.A. (Spain), Susquehanna Marble & Granite (United States), Antolini Luigi & C. S.p.A. (Italy), Polycor Inc. (Canada) and Philadelphia Soapstone Company (United States). Additionally, following companies can also be profiled that are part of our coverage like Coldspring (United States), KSG UK (United Kingdom) and Laizhou Xiangyang Talc Co., Ltd. (China). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Soapstone market by 2026. Considering Market by Packaging Type, the sub-segment i.e. Sack will boost the Soapstone market. Considering Market by Distribution Channels, the sub-segment i.e. OEM will boost the Soapstone market. Considering Market by Color, the sub-segment i.e. White will boost the Soapstone market. Considering Market by End-User, the sub-segment i.e. Residential will boost the Soapstone market. Considering Market by Finishing Type, the sub-segment i.e. Polished will boost the Soapstone market.
The Occupational Safety and Health Administration has fixed a particular legal limit for the tolerable exposure limit of the soapstone in the workplace such as 20 million particles per cubic foot for a workday of 8-hours. The National Institute for Occupational Safety and Health has also permitted a suggested exposure limit of around 6 mg/m3 of total exposure and 3 mg/m3 for respiratory exposure over an 8-hour of a workday. These levels are set due to the fact that 3000 mg/m3 of soapstone is straightaway highly dangerous to the life and health of the people working with the substance.
What Can be Explored with the Soapstone Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Soapstone Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Soapstone
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Soapstone market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Soapstone market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Soapstone Distributors and Suppliers, Soapstone Product Manufacturers, Research and Development Institutes, Potential Investors, Regulatory Bodies, Upstream and Downstream Buyers and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.