Dark Stone Market By Type (Marble, Granite, Limestone, Others), By Application (Flooring, Memorial Arts, Wall Cladding, Others), By End User (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032

Dark Stone Market By Type (Marble, Granite, Limestone, Others), By Application (Flooring, Memorial Arts, Wall Cladding, Others), By End User (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global dark stone market was valued at $3.7 billion in 2022, and is projected to reach $5.8 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.

Natural dark stone is a mountain-acquired mineral, which includes quartzite, slate, limestone, sandstone, marble, granite, and others. It majorly finds its application in residential and commercial flooring and wall cladding, owing to its durability, hardness, and aesthetic appearance. It finds applications in furniture, statuary, and monuments.

An expansion of the building industry, owing to a rise in investment in the housing sector, and increased construction spending across various countries such as the U.S., Japan, India, and others, which fuels the growth of the global dark stone market. In addition, the rise in urbanization, and population growth, which is expected to rise in demand for dark stones for flooring, and wall cladding applications, boost the growth of the global market. Benefits associated with dark stones such as long durability, aesthetic presence, and reliability, in turn, boost the adoption of slate, and limestone in commercial and residential buildings, which drives the growth of the global dark stone market.

The increase in disposable income of individuals and the surge in awareness of attractive outdoor designs have shifted the inclination toward home remodeling among residential end users, especially in urban areas.

Stones such as marble and granite used for flooring in patios, porches, backyards, and pavements enhance the visual appeal of residential buildings, thereby fueling their adoption. Moreover, an increase in the number of engineering, procurement, and construction (EPC) projects in the infrastructure sector coupled with real estate and various urban infrastructure projects is expected to increase the demand for dark stones at a global scale. Thus, the market is majorly driven by infrastructure construction activities, which include building roads, bridges, airports, power plants, and notably highway & road projects. Furthermore, an increase in industrialization and a rise in the need for residential & commercial infrastructure setup are expected to boost the global market.

In emerging economies, the increase in popularity of outdoor entertainment areas has created the need for dark stones for wall cladding, which has positively influenced the market. In addition, the demand for construction materials such as marble is on the rise at a significant pace, owing to an increase in its adoption for the construction of memorials and furniture. However, fluctuations in climate in recent years due to global warming and exploitation of resources have resulted in the implementation of stringent policies toward the utilization of natural resources and reduced emissions globally. Thus, government initiatives toward the reduction of stone mining restrict global market growth.

Growth in response to the rise in consumer demand for home renovation and replacement is one of the major factors boosting the global dark stone market growth. For instance, according to Harvard Joint Centre for Housing Studies article published in January 2021, the growth of house remodeling and repair expenditures is expected to increase from 3.5% at the end of 2020 to 3.8% by the year-end of 2021, based on the most recent Leading Indicator of Remodeling Activity (LIRA). Similarly, officials at the National Association of Home Builders' IBSx virtual event in February 2021 predicted that remodeling expenditure on owner-occupied single-family homes is expected to witness a rise by 4% in 2021, then another 2% in 2022. Remodeling and renovation across the globe are factors that provide lucrative growth in the dark stone industry throughout the forecast period.

However, fluctuations in raw material prices and an increase in the adoption of artificial stone are projected to hinder the growth of the global market in the coming years. Furthermore, an increase in new construction activities, especially in emerging economies is anticipated to provide lucrative opportunities for the growth of the global dark stone market during the forecast period.

According to the dark stone market analysis, the market is segmented on the basis of type, application, end user, and region. By type, the market is segregated into marble, granite, limestone, and others. On the basis of application, it is segmented into flooring, memorial arts, wall cladding, and others. Depending on the end user, the dark stone market is categorized into residential and commercial. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and the rest of LAMEA).

The key players operating in the global dark stone market are constantly engaged in strategic developments such as partnerships, joint ventures, acquisitions, and mergers to exploit the prevailing dark stone market opportunities. Business expansion, acquisition, and collaboration have emerged as a key strategy among the market players to strengthen their position and achieve growth in the long term. The major players operating in the market include Marble Trend, Polycor, Inc., Brachot-Hermant NV, Coldspring, Stone Source, LLC., Antolini Luigi and C. S.p.a., Pokarna Limited, UGM Surfaces, Tripura Stones Pvt. Ltd., Aravali India Marbles and Granites, Stoneville USA, Inc. Aro Granite Industries Ltd., Stone Group International, Bhandari Marble Group, and Levantina Y Asociados de Minerales, S.A.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the dark stone market analysis from 2022 to 2032 to identify the prevailing dark stone market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the dark stone market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global dark stone market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Marble
Granite
Limestone
Others

By Application

Flooring
Memorial Arts
Wall Cladding
Others

By End User

Residential
Commercial

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Argentina
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Antolini Luigi & C. S.p.a.
Aravali India Marbles & Granites
Aro Granite Industries Ltd
Bhandari Marble Group
Brachot-Hermant NV
Coldspring
Levantina Y Asociados de Minerales, S.A.
Marble Trend
Pokarna Limited
Polycor Inc.
Stone Group International
Stone Source LLC
Stoneville USA, Inc
Tripura Stones Pvt. Ltd.
UGM Surfaces

Please Note: It will take 7-10 business days to complete the report upon order confirmation.