DUBLIN, February 15, 2022--(BUSINESS WIRE)--The "Natural Stone Market" report has been added to ResearchAndMarkets.com's offering.
The global natural stone market size was valued at $33,375.3 million in 2020, and is projected to reach $50,465.1 million by 2030, registering a CAGR of 4.0%.
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 2019, the Federal Government of Canada planned to invest around $180 billion for new infrastructure development. Moreover, 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 expected to grow at a rate of over 1.5% from 2020 to 2022. However, increase in emphasis toward 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 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. On the basis of type, the market is segregated into marble, granite, limestone, and others. The granite segment dominated the market in 2020. The applications covered in the market include flooring, memorial arts, wall cladding, and others. The flooring segment held a major market share in 2020. Based on construction type, the market is bifurcated into new construction and renovation. Renovation segment is expected to grow at a 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 report provides an extensive analysis of the current and emerging global natural stone market trends and dynamics.
In-depth market analysis is conducted by global natural stone market estimations for the key market segments between 2020 and 2030.
Extensive analysis of the global natural stone market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global natural stone market forecast analysis from 2021 to 2030 is included in the report.
The key market players within market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global natural stone market.
Increase in spending on home remodeling and retrofitting activities
Rise in popularity of outdoor entertaining area among wall cladding end users
Rapid urbanization in emerging economies
Increase in emphasis toward utilization of artificial materials
Increase in government and private investments in infrastructure sector
Dimpomar, Dermitzakis Bros S.A.
Levantina y Asociados de Minerales, S.A.
For more information about this report visit https://www.researchandmarkets.com/r/tljfaz
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