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Latest trends in the U.S. Stone Industry by Vicky Smith
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Latest trends in the U.S. Stone Industry |
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Business
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The American market has seen a lot of growth in the last decades, the principal increase has been in the residential market, specially for granite countertops. Over 3000 new small companies have entered the market to fabricate granite kitchen & bathroom multicolored or granites with movement. They appear to be the only two markets with the right colors appealing to home owners. Prices have dropped drastically by 40% for granite, making it the leading hard cover surface material in demand. Home Depot by introducing Silestone from Spain has also made this once unknown product and leader in the market place against other synthetic stone tops. Brazilian granite slabs have dropped in price almost 40% in the last three years, in part due to the devaluation of its currency. Major changes have occurred in the restructuring of companies. Georgia marble, the dimension stone division was sold by the French company Imetal and bought by a Canadian company called Polycor. Dal-Tile, which owns American Olean, a major ceramic company, was bought by a major carpet company in Georgia, which has entered the hard covering market, making them one of the biggest flooring distributors in the United States. Canadian companies have expanded and consolidated their marketing efforts by buying companies or distributors in the United States. Many foreign companies have entered the market either with warehouses or sales offices, from Egypt, Turkey, China, Indonesia, Brazil, Mexico just to name a few. China is increasing its sales to United States yearly at double digit figures and taking over the monument business (as are major producers of Indian granites), and branching into the commercial market such as hotels and restaurants, and now some into office buildings. They are especially strong in granite flooring and the Chinese market is looking to compete on all levels of production with any foreign producers to increase their percentage of this large market. It appears that in granite mostly China and India are competing heavily against each other to take orders at the lowest prices ever seen in this market, and prices have dropped by as much as 50% on Indian granites in the last decade. To give an example, 10 years ago Absolute Black granite tiles cost $5.00 per square foot and today the price is $2.50/SF for the same quality. Many distributors have expected in to the fabrication business while many fabricators have now expanded into the installation business. Distributors have expanded out of their home office and into other cities and other states. Next year is a waiting phase in the economy to see that will happen in the Presidential elections. This will affect the market outcome in one way or another. The dollar against the Euro may remain the same over the next 6 months at least and perhaps till end of 2004 but who really knows. At least these views are what most common economists foresee at this time. In short, as an excellent business E-platform of promoting stone industry, we are in possession of a powerful technology group and high-efficiency operations management system. If you want to consult us freely, you can also see building stone or become an honest follower of us by @stonebtb of https://twitter.com.
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