Paving Stone Market By Paving Material (Concrete Pavers, Natural Stone Pavers, Clay Brick Pavers), By Application (Driveway, Walkway, Patio, Pool Decks, Garden, Others), By End-use (Residential Construction, Commercial Construction): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global paving stone market is envisioned to garner $86.7 billion by 2031, growing from $40.3 billion in 2021 at a CAGR of 7.9% from 2022 to 2031.
Paving stones are utilized in both residential and non-residential construction due to their special qualities, high rigidity, superior surface quality, high resistance to extreme temperatures, and creep resistance in demanding higher & hazardous situations. There are numerous shapes for paving stones. During the forecast period, a greater emphasis on aesthetic is predicted to increase the use of paving stone. Paving stones are considered in the construction community as significant elements that contribute to enhancing the style or appearance of an existing landscape. Due to the rising demand for single-family homes and multi-family homes as well as the accessibility of financing, residential construction activities have been increasing over the past several years. A significant portion of the paving stone originates from non-residential construction projects including universities, shopping centers, and office buildings.
The high cost of paving stone is restricting the market growth. Construction costs for a paving stone driveway will most likely be substantial due to the high cost of the materials and lack of skilled labor. Additionally, it takes skilled craftsmen to create excellent designs with stone as well as the stone material.
There is an increase in the demand for paving materials from the construction industry due to population growth and rapid urbanization. Because of increased marketing by manufacturers, customers are becoming more aware of the advantages of using paving materials like asphalt, concrete, and brick. The paving stone market will benefit from rising investments in infrastructure development projects in growing economies all over the world. The market is anticipated to grow as a result of technological developments in the production of paving materials that offer improved performance, durability, and aesthetics.
COVID-19 had a negative impact on the paving stone market, including paving content and the various equipment utilized in paving stone production. The pandemic has impacted the economy very hard globally, as the lockdown was implemented in all regions, making the situation tough for all sectors for development. Because of the COVID-19 issue, no industry is impervious to the impact of the pandemic; all producers in the regions have experienced ups and downs.
The key players profiled in this report include Thomas Armstrong Group, Marshalls.co.uk, NGM Blocks , Pavestone UK Ltd., Anchor Block Company, ARO Granite Industries Ltd., Unilock, Mumal Marbles Pvt. Ltd., Arvicon International, and Wienerberger.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the paving stone market analysis from 2021 to 2031 to identify the prevailing paving 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 paving 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 paving stone market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
Driveway
Walkway
Patio
Pool Decks
Garden
Others
By Paving Material
Concrete Pavers
Natural Stone Pavers
Natural Stone Pavers
Granite
Marble
Limestone
Slate
Sandstone
Others
Clay Brick Pavers
By End-use
Residential Construction
Commercial Construction
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
United Arab Emirates
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Thomas Armstrong Group
Marshalls.co.uk
NGM Blocks
Pavestone UK Ltd
Masonary Products, LLC
ARO Granite Industries Ltd.
Unilock
Polycor Inc.
Dimpomar
Mumal Marbles Pvt. Ltd.
Marshalls plc
Arvicon International
Aro granite industries ltd.
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