Natural Stone Market By Type (Marble, Granite, Limestone, Others), By Application (Flooring, Memorial Arts, Wall Cladding, Others), By Construction Type (New construction, Renovation): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global natural stone market size was valued at $33,776.3 million in 2020, and is projected to reach $57,606.3 million by 2032, registering a CAGR of 4.4%. Natural stone is one of the most sustainable, eco-friendly, and non-toxic building materials. Hence, it is the first choice as a building material for people opting for green materials. It is a mountain–acquired substance, and includes common stones such as sandstone, granite, travertine, limestone, onyx, slate, adoquin, marble, slate, and others. It is available in a wide range of colors and sizes with different physical and chemical properties. The natural stone is one of the essential building materials utilized for construction of dams, abutments, arches, walls, and other structures. As the name suggests, they are naturally available through mining and underground quarrying. Natural stones are widely used in institutional buildings, and monumental buildings. In addition, they are used as aggregates for concrete and rubble masonry works for canal walls and bridge piers.
Rapid urbanization and surge in adoption of natural stones for indoor flooring in building structures such as temples, luxurious houses, government buildings, and schools drive the growth of the market. In addition, rise in consciousness toward exterior entertainment area and propensity to spend on home remodeling boost the growth of the global natural stone market. Besides, rise in government spending on new construction and renovation activities globally fuels the growth of the global natural stone market. For instance, in August 2021, the Federal Government of Canada planned to invest around $180 billion for a 12-year period to improve the new infrastructure development. Moreover, the rise in disposable income of people in developing countries such as India, Brazil, Africa, and others, leads to increased spending on renovation activities, which drive the growth of the global natural stone market. For instance, the disposable income of South Africa is growing at a rate of over 1.5% from 2020 to 2022. However, an increase in emphasis on the utilization of green and eco-friendly materials hamper the market growth. On the other hand, developing economies in Asia-Pacific and LAMEA continue to offer lucrative growth opportunities for natural stone producers, due to a surge in investments in residential construction activities in these regions.
The natural stone market is segmented on the basis of type, application, construction type, and region. By type, the market is categorized into marble, granite, limestone, and others. The granite segment dominated the market in 2020. On the basis of application, it is segmented into flooring, memorial arts, wall cladding, and others. The flooring segment accounted for a major market share in 2020. As per construction type, the market is categorized into new construction and renovation. The renovation segment is expected to grow at the highest rate during the study period. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific region dominated the market in 2020.
The major players that operate in the global market have adopted key strategies such as product launches and product development to strengthen their market outreach and sustain the stiff competition in the market.
Competition AnalysisThe key players profiled in the natural stone market report include Aro Granite Industries Ltd., Dimpomar, Dermitzakis Bros S.A., Levantina y Asociados de Minerales, S.A., MARGRAF, Mumal Marble, Polycor Inc., Temmer Marble, Topalidis, and Xishi Stone Group.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the natural stone market analysis from 2020 to 2032 to identify the prevailing natural 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 natural 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 natural stone market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy TypeMarble
Granite
Limestone
Others
By ApplicationFlooring
Memorial Arts
Wall Cladding
Others
By Construction TypeNew construction
Renovation
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Rest of Asia-Pacific
Key Market PlayersAro Granite Industries Ltd.
Polycor Inc.
Dimpomar
Dermitzakis Bros S.A.
Mumal Marbles Pvt. Ltd.
TOPALIDIS S.A.
XISHI GROUP LTD.
Levantina Y Asociados de Minerales, S.A.
MARGRAF
Temmer Mermer Madencilik ?n?aat Sanayi ve Ticaret A.?.
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