FRP SOFT STONE MARKET Challenges and Opportunities

The FRP soft stone market has been facing high costs associated with manufacturing and procurement of raw materials. Resin and glass fiber, being the key raw materials, witness price volatility due to dependence on crude oil prices. Additionally, customized product designs require additional expenditures on tooling and machinery. High capital requirement for setting up manufacturing facilities further exacerbates the costs. Subdued demand growth during economic downturns prevents revenue generation to offset the high fixed costs.

Market Opportunity: Expansion in Emerging Economies with Rapid Urbanization

The FRP soft stone market sees significant opportunity in the emerging economies experiencing rapid urbanization. With increase in construction activities in these regions, the demand for affordable and durable construction and interior materials is on the rise. FRP soft stones match these needs well as they provide the look and feel of natural stone at lower costs. They require minimal maintenance and are light-weight for ease of installation.