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Global Natural Stone Market InsightMarch 16, 2022 Comments
Global natural stone are forecast to 7.57% over the next five years. According to the WK-chem Research, “Global Natural Stone Professional Survey Report 2022, Forecast to 2027”, growth in response to rise in consumer demand for home renovation and replacement is one of the major factors boosting the global natural stone market growth. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 7.57% base on WK-chem Research regression analysis model.
“The major players operating in the global natural stone market have adopted key strategies such as business expansion and acquisition, to strengthen their market outreach and sustain the stiff competition in the market”, said Ada Evans, Data Analyst, in WK-chem Research.
The natural stone and marble market growth is backed by the emergence of the latest technologies, which make it possible to provide modern designs and finish to the natural stones that consumers prefer. Consumers can opt for acid-washed or sandblasted or any other suitable pattern and finish on the natural stone that appeals to them. This has supported the market growth as companies are adapting to the changing demands. Vein pattern, which is formed by the movement of tectonic plates, is getting very popular in the market. Various shades of blue color are being preferred owing to their ability to evoke instant calm. Also, in exterior applications, modern technologies have facilitated the use of cheaper stones with desired designs, which has increased the demand for natural stones.
Though the demand for natural stones and marble is on the rise, artificial concrete blocks and ceramic tiles have a huge demand than natural stones. Besides, they are cheap, which makes them an attractive option in countries with low disposable income, thus affecting the growth of the natural stones market.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading natural stone companies that include: Aro Granite Industries Ltd., Dimpomar, Antolini Luigi & C. S.p.A., Dermitzakis Bros S.A., Levantinay Asociados de Minerales, S.A., MARGRAF, RANAMAR, Polycor Inc. , Temmer Marble, Southland Stone USA, Inc., Xishi Stone Group, CUPA Group.
Segmentation of Natural Stone Market:
According to the type, the market for natural stone is divided into: Granite, Limestone, Marble, Sandstone, Slate, and Others. The granite has the largest market share. Granite accounts for around one-third of the global market of natural stones and marble. India is the largest producer of granite and exports them in huge quantities to other parts of the world. Brazil is the second-largest exporter of granite in the world, but there has been a downward trend in Brazilian exports, contrary to the increasing demand for granite across the globe. Limestone accounted for the second-largest market share. The demand for marble is expected to grow the fastest in the market. The availability of a wide range of colors makes marble products popular. Italy produces some of the finest quality marbles and is also equipped with robust technologies that make its marble products stand on top in the global market.
According to the application, the market for natural stone is divided into: Building & Construction, Monumental, and Others. Building & Construction has the largest market share. The natural stone and marble market is dominated by the building & construction industry with the most share. Residential construction buildings are the major contributors to the growth of the business in the industry. The consumption of natural stones for exterior applications such as swimming pools is also on the rise. Travertine and limestone are being used for swimming pool decks.
Natural Stone Market: Regional Analysis
In terms of geography, the global natural stone market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. China is the largest consumer of natural stones & marble and is one of the major drivers of the natural stone industry in the region. The country processes large volumes of natural stone and exports the surplus products to other parts of the world. Rapid urbanization in developing countries such as India, Bangladesh, and Thailand is set to create lucrative growth opportunities in the coming years and aid the dominance of the region in the natural stone and marble market share.
Largest share area：Asia Pacific
Largest share country：China
Product Type：Granite, Limestone, Marble, Sandstone, Slate, and Others.
Application：Building & Construction, Monumental, and Others.
Leading Company：Aro Granite Industries Ltd., Dimpomar, Antolini Luigi & C. S.p.A., Dermitzakis Bros S.A., Levantinay Asociados de Minerales, S.A.