Jesmonite Market Forecast and CAGR
According to latest research conducted, the global market of Jesmonite is anticipated to grow with a CAGR of 2% to 3% during the forecast period of 2021-2031. With the increasing awareness about sustainability, benefits for development of green buildings and adoption of building methods that enhance renewable and sustainable efforts, use of Jesmonite is also expected to increase in the coming forecast period as this building material is not only eco-friendly but durable and easy to work with at the same time.
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The chemicals and materials vertical is slated to witness emphasis shifting towards new-fangled value streams as well as applications driving it. One amongst them would be feedstock volatility, which is bound to influence the export competitiveness throughout. Plus, decarbonisation is making inroads, wherein renewable and recycled feedstock-based polymers are inevitable with regards to product offerings.
Digital sales and remote sales channels are already there to join the bandwagon. The “go green” initiative is bound to go a long way, as things like global warming would never be taken casually again. Persistence Market Research has its team of knowledge and research experts in the form of consultants and analysts to cater to the needs of the key stakeholders.
What is Driving Demand for Jesmonite?
Jesmonite is preferably used by the designers and architects that are in search for an ecologically friendly alternative to standard building materials or resin-based materials. Being a versatile product and it can be used in a lot of different ways, for creating sculptures and three-dimensional works, it can also be used with other materials as a ground for painting even on the exterior walls.
It is now even more popular among the small business owners in many other e-commerce and social media platforms as it is being used to make colorful coasters, bowls and trays, due to its economical and cost effective rates. This material can also be used with different pigments, metals and fibers, which helps make the product more malleable and versatile.
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North America Jesmonite Market Outlook
Due to the prevalence of major construction industry and development of various other infrastructural projects in the region, consumption of Jesmonite is expected to increase with the increasing trends of interior designing industry in developed countries like US and Canada.
The U.S. government has adopted LEED and other similar green buildings certifications for public buildings. Green building certification systems such as LEED and the ICC 700 National Green Building Standard are anticipated to continue the increased demand for green building projects. This in turn is expected to drive the demand for the same in the coming forecast period.
Europe Demand Outlook for Jesmonite
As, it is a well-known design material that may be utilised by both furniture and building developers. Additionally, it is becoming more and more popular among crafters and artists all across Europe. Due to its ability to produce tiny, complex details, makes it a popular option for jewelers, while its strength and durability make it ideal for sculptors.
For instance, Malgorzata Bany exhibited a body of work at the 2018 London Design Festival, including tables and lighting, while Ariane Prin was invited to construct the site-specific Rustiles exhibition at the 2017 London Design Fair, where Jesmonite was selected “Material of the Year”, all of which was held in Europe.
Who are the Key Manufacturers and Suppliers of Jesmonite?
Some of the leading manufacturers and suppliers of Jesmonite includes –
- Globalchimica S.R.L.
- Coast Fiber-Tek Products Ltd
- Allscot Ltd
- Epoxy S.R.O.
- Resineco – Green Composites
- Lindberg & Lund AS
- Industrial Plasters
- Polysil Ltd.
- Mb Fibreglass Ltd.
Key players are investing in R&D, expert engineers and lab technicians for searching ways to improve durability, resilience and sustainability by upgrading processes and integrating expertise with new technologies, so as to develop new product formulations in the global market and increase their regional footprint.
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