Construction Stone Market to be Worth USD 37,312.10 Million by 2030 Growing at a CAGR of 7.8% - Market Research Future (MRFR) Report

Construction Stone Market to be Worth USD 37,312.10 Million by 2030 Growing at a CAGR of 7.8% – Market Research Future (MRFR) Report

New York, U.S., Nov. 29, 2022 (GLOBE NEWSWIRE) — Overview of the building stone market

According to a comprehensive research report by Market Research Future (MRFR), “building stone market Information by Type, Application and Region – Forecast to 2030“, the market is expected to grow at a CAGR of 7.8% to reach USD 37,312.10 million by 2030.

Market summary

Stones used in construction must be strong, resilient and free from material weak points, cracks and other defects that compromise their toughness and resilience. Quarrying is the process of obtaining stones from large solid boulders for construction purposes. The advantages of building stones over other materials, such as their non-toxicity, are increasingly well known. Due to this significant trend, future building materials will no longer be favored over building stones. Due to its toughness, resistance and attractive appearance, it is mainly used in wall coverings and flooring in residential and commercial spaces. It is used for monuments, statues and furniture. Compared to other natural stone products, it provides significant longevity and is relatively less expensive. The demand for building stone is increasing globally due to the rapid expansion of residential and commercial construction industries.

Marble and granite are used in patios, porches, backyards, and floors as they enhance the look of residential buildings, encouraging adoption. The demand for building stones is also expected to increase globally due to the increase in engineering, procurement and construction (EPC) projects in the infrastructure sector, as well as real estate and various urban infrastructure projects. Over the projected period, demand is expected to increase as investment in large commercial and residential buildings increases and the desire for opulent countertops to enhance home decor increases.

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Report Scope:

Report attribute Details
Market size in 2030 $37,312.10 million
CAGR 7.8% (2022-2030)
base year 2021
Forecast period 2022–2030
Historical data 2020
Forecast units Value (USD million)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered By type, application and region
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers The construction of commercial buildings such as shopping malls, retail outlets.
The increase in building focus that supports energy efficiency is also the growth of the market.

Market Competitive Landscape:

The illustrious contenders in the building stone market are:

  • Cosentino
  • Indian Limestone Company
  • Levantine
  • Benchmark Building Supplies Limited
  • Best Cheer Stone Band
  • Caesarstone
  • Dow DuPont
  • Compact
  • Universal marble and group
  • machine gun
  • bitto

Covered USP market:

Market factors:

An increase in construction spending in several countries including the United States, Japan, India, and others, as well as an expansion in the construction industry, all of which are contributing to the growth of the global market for building stone. The market is growing with the use of building stones in residential and commercial structures that can improve the appearance of buildings. The increased emphasis given by the construction industry to energy efficiency is also contributing to the expansion of the building stone market. The expansion of the market is also fueled by the low maintenance required when using building materials.

The need for building stones for floors and wall coverings is also expected to increase as urbanization and population growth continue to soar. This will contribute to the expansion of the global market. The advantages of building stone, including longevity, aesthetic appeal and reliability, are encouraging the use of slate and limestone in commercial and residential construction, which in turn is fueling the expansion of the global building stone industry. The home improvement trend among domestic end users, especially in urban areas, has changed due to the increase in personal disposable income and increased awareness of eye-catching exterior designs.

Market constraints:

The main barriers to expansion are the erratic and expensive items associated with the building stone market. One of the obstacles to market expansion is even the unwillingness of investors to support manufacturing companies financially. However, it is predicted that the increased use of artificial stone may hamper the expansion of the global market in the coming years.

Browse the in-depth market research report (145 pages) at building stone

COVID 19 Analysis

Due to nationwide shutdowns and delays in the production and supply of building stone used in residential and commercial areas, the COVID-19 outbreak has hampered the growth of the building stone market. Due to the abrupt shutdown of the industry, the spread of the pandemic has had a significant impact. The market value struggles to survive because there is no transport or trade. Lack of export and import and lack of global supply have also increased the demand in the industry. Due to increased market demand and industry growth, the construction industry has grown faster in the post-pandemic environment.

Market segmentation

By application, the market includes commercial infrastructure, public infrastructure, and residential infrastructure. By type, the market includes construction aggregates and natural stones.

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Regional outlook

The most popular building stone in the market is granite, which is mainly produced in China, Brazil, India, Spain and Saudi Arabia. The growing popularity of outdoor entertaining spaces in emerging economies has had a positive impact on the market, increasing the demand for building stones for wall cladding. Additionally, the demand for building materials like marble is increasing rapidly due to the increased use of furniture and memorial constructions. The construction industry will benefit from the increased demand for infrastructure in the Asia-Pacific region, especially for hospitals and healthcare facilities.

However, the current climate change caused by global warming and resource depletion has led to the development of strict rules aimed at reducing emissions on a global scale and optimizing the use of natural resources. Government efforts to reduce stone quarrying thus limit the expansion of the global market. Developing countries produced a significant share of the world’s granite and exported a significant amount to the United States, one of the largest consumer markets. China is the largest marble producer by volume, but Italy is also one of the countries with abundant high quality marble resources. The market is growing mainly thanks to the construction industry, particularly in Asia. Due to the expansion of the infrastructure sector and the increase in consumer disposable income, the region is witnessing a surge in construction activity. The growing urbanization of the region also benefits the construction sector.

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