Growth opportunities in the natural stone market look promising over the next six years. This is mainly due to the increasing building renovation and remodeling, surging natural stone demand in emerging economies, rapid urbanization, and growing popularity of entertaining outdoor areas.
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Natural Stone Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmenting demand for natural stones in the developing economies, increasing urbanization, the expanding rate of building remodelling and renovation, and the popularity of entertaining outdoor areas are the key drivers supporting the growth of the global natural stone market. Construction helps to shape the daily life of individuals in numerous ways. According to natural stones market research, individuals these days are emphasizing on improving the quality of materials and construction used to for indoor environment. The construction industry’s emerging trends and innovations encourage people and businesses to renovate or remodel their offices and homes. Renovation in homes helps to improve style, safety issues, and intensify the home value. In contrast, the office renovations help attract clients, raise the employee’s productivity, decrease operational & management costs, and safeguard employees.
The natural stone industry is growing owing to the various benefits offered by it, in the construction sector, like low maintenance, better durability and resistance, reduced environmental impact, and numerous colors and textures, making it different and unique. Also, natural stones maintain their beauty and have a long lifespan, further attracting individuals to choose natural stones in renovation and remodelling. However, the rising focus on eco-friendly and more green materials may hinder the growth of the market.
Type Segment Drivers
Based on type, the market is segmented into limestone, marble, granite, and others. Marble is predicted to dominate the market over the forecast period. This is because of the advantages offered by marble stones, like durability, heat resistance, unique appearance, and high affordability. The combination of these features is strengthening its demand, especially in developing countries, which results in growth of the natural stone market size.
Regional Drivers
On the basis of regional coverage, Asia-Pacific is expected to witness a faster CAGR over the forecast period attributing to the growing urbanization and population in countries like Malaysia, China, India, and Indonesia. All these factors together with the increase in demand for remodeling, construction, or renovation contributes to the growth of the market.
Natural Stone Market’s leading Manufacturers:
- Xishi Group Ltd.
- Temmer Marble
- Mumal Marbles Pvt. Ltd
- Levantina y Asociados de Minerales, S.A.
- Dimpomar
- Topalidis S.A.
- Polycor Inc.
- Margraf Spa
- Dermitzakis Bros S.A.
- Aro Granite Industries Ltd.
Natural Stone Market Segmentation:
Segmentation by Type:
- Marble
- Granite
- Limestone
- Others
Segmentation by Application:
- Flooring
- Memorial arts
- Wall Cladding
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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