Dimension Stone Market By type (Granite, Limestone, Marble, Standstone, Others), By application (Structural Use, Decorative Uses): Global Opportunity Analysis and Industry Forecast, 2021-2031
The dimension stone market valued for $13.4 billion in 2021 and is estimated to surpass $20.2 billion by 2031, exhibiting a CAGR of 4.2% from 2022-2031.
Dimension stone can be defined as natural rock material. Dimension stones are natural stones that are selected and finished (trimmed, cut, drilled, ground, or other) to specific shapes and sizes. Some examples of dimension stone include marble, sandstone, limestone, travertine, granite, and others. Dimension stones are used in various applications including building monuments, jewellery, fireplace mantles, floors, bathroom skins, shelves, tabletops, basins, and others.
Surge in population led the building & construction sector to witness a significant growth where granite is widely used for building floors, basins, kitchen countertops, bath vanity tops, and others. For instance, according to a report published by International Trade Administration, China’s construction industry is projected to grow at an annual average rate of 8.6% from 2022 to 2030. This may propel the demand for dimension stone market in the growing construction sector during the forecast period. In addition, government of developing economies such as China, India, and others has increased spending on the development of townships, housing, built up infrastructure and construction development projects where dimension stones are widely used for building residential & commercial flats.
For instance, according to a report published by National Investment Promotion and Facilitation Agency of India, the Indian Parliament passed a bill to set up the National Bank for Financing Infrastructure and Development (NaBFID) to fund infrastructure projects in India in March 2021. This event may augment the growth of the dimension stone market during the forecast period. However, dimension stones are relatively expensive as compared to its other substitutes such as cemented bricks, stabilized soil blocks, and others. Thus, the availability of substitutes at cheaper rates is projected to hamper the growth of the dimension stone market.
On the contrary, several government initiatives, acts, and provisions to protect the heritage monuments such as Ancient Monuments and Archaeological Sites and Remains Act, 1958, Antiquities and Art Treasure Act, 1972, and others fuel the demand for dimension stone used for monument restoration purposes. This factor is projected to further augment the growth of the dimension stone market for marble type; thus, creating lucrative opportunities for the dimension stone market.
The dimension stone market is segmented into type, application, and region. On the basis of type, the market is categorized into granite, limestone, marble, sandstone, and others. On the basis of application, it is classified into structural use and decorative use. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global dimension stone market profiles leading players that include Epiroc Middle East FZE, HMG Stones, Aditya Stonex, Aro granite industries ltd., Avid Marbles and Granites Pvt. Ltd., Fox Marble, MGT Stone Company, ArtGo Holdings Limited, Asian GIndia Limited, FHL Kiriakidis Group. The global dimension stone market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the dimension stone market analysis from 2021 to 2031 to identify the prevailing dimension 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 dimension 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 dimension stone market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By type
Granite
Limestone
Marble
Standstone
Others
By application
Structural Use
Decorative Uses
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Epiroc Middle East FZE
HMG Stones
Aditya Stonex
Aro granite industries ltd.
Avid Marbles & Granites Pvt. Ltd.
fox marble
MGT Stone Company
ArtGo Holdings Limited
asian granito india limited
FHL Kiriakidis Group
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