According to IMARC Group's latest research report, titled "Natural Stone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", presents a comprehensive analysis of the industry, covering the natural stone market size, opportunity, share, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
How big is the Natural Stone Market?
The global natural stone market size reached US$ 37.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 47.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
What is Natural Stone?
Natural stones represent earth-mined or organic items that are used as decorative objects and construction materials. Marble, limestone, granite, slate, quartzite, sandstone, laterite, basalt, etc., are some of the commonly utilized natural stones. They exhibit numerous beneficial properties, including high density, strength, color intensity, appearance, hardness, color blend, texture, structure, etc. Natural stones are durable, environmentally friendly, easy to maintain, cost-effective, etc. They are easily available in several textures, shapes, sizes, etc. Consequently, natural stones are widely used in flooring, wall cladding, countertops, backsplashes, sculptures, decorative items, roofing, bathtubs, swimming pools, etc.
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What are the Growth Prospects and Trends in the Natural Stone Market?
The expanding construction sector across countries and the growing number of residential, commercial, hospital, and educational buildings are primarily augmenting the natural stone market. Furthermore, the widespread adoption of granite and marble for flooring in porches, backyards, pavements, patios, etc., to improve their aesthetic appeal is positively influencing the global market. Apart from this, the rising engineering, procurement, and construction (EPC) projects are acting as significant growth-inducing factors. Moreover, the increasing usage of natural stones in river walls, dams, bridge piers, tiles, slabs, pavements, etc., is also bolstering the market growth. Besides this, continuous product innovations, such as the introduction of natural stones with modern designs imprinted on them, are further catalyzing the global market. Additionally, the inflating expenditure capacities of consumers, the emerging trend of home renovation and remodeling activities, and the launch of various favorable initiatives by government bodies to promote infrastructural development are expected to fuel the natural stone market in the coming years.
Who are the key Players Operating in the Industry?
- ARO Granite Industries Ltd.
- Dermitzakis Bros S.A
- Dimpomar
- Levantina y Asociados de Minerales S.A.
- Margraf SPA
- Mumal Marbles Pvt. Ltd.
- Polycor Inc.
- Ranamar Marble
- Temmer Marble
- Topalidis S.A.
- Xishi Group Ltd.
What is included in Market Segmentation?
Breakup by Type:
- Granite
- Marble
- Limestone
- Others
Breakup by Construction Type:
- New Construction
- Renovation
Breakup by Distribution Channel:
- Online
- Offline
Breakup by Application:
- Flooring
- Memorial Arts
- Wall Cladding
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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