Granite Market Future Demand, Growth, Share and Analysis with forecast 2024

Granite is an igneous rock which is developed due to the interlocking between crystals of feldspar, quartz, and mica. Other minerals are also present in minor quantities. Granite constitutes about 70% to 80% of the Earth’s crust. It is majorly found as large mountain ranges.

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Different theories about the origin of granite have existed for more than 150 years. The two most prominent theories that exists currently are the hyper-metamorphic theory and the magmatic theory.

The color of granite depends on its mineral composition. It is predominantly found in white, gray or pink color.The term granitic is used for granite as well as such igneous rocks that have similar texture to that of granite, but somewhat different origin and composition. Granite-like rocks primarily comprise quartz, feldspar, and mica with some amphibole minerals. Their interlocking structure is slightly equigranular matrix of quartz and feldspar, with mica and amphibole scattered in between. This scattered presence of mica and amphibole minerals can be majorly observed in light-colored granites.

Granite is a hard stone and entails skill to hand-carve it. It is utilized for making sculptures, memorials, and gravestones. It has also been widely employed as flooring tiles and dimension stones. In modern architecture, granite slabs and tiles are used to make countertops, bar tops, fireplaces, staircases, murals, paving stones, and curbings. They are also utilized as building stones for bridges, memorials, monuments, and buildings. A form of granite, known as azurite granite, is primarily employed as a gemstone and also for construction purposes.

The usage of granite in household construction is increasing; however, there is concern regarding the radiations from granite being harmful to health. Granite is also a natural source of radiation similar to most natural stones. The concern regarding radiation has been raised due to reports of higher radioactivity in some granites. Alkali feldspar is a common constituent of granite. Potassium-40 is a radioactive isotope of weak emission and is abundantly present in alkali feldspar. Uranium and Thorium are also found in granite. Concern about granite building materials being health hazard arises due to these factors.

In the construction industry, the granite is employed in either the crushed form or dimensional form. Granite rock climbing is also popular as a sport, because of its soundness, steepness, friction, and crack systems. Consequently, artificial rock climbing walls in many theme parks and gyms are given the appearance and feel of granite.

In terms of color, the granite market can be segmented into black, white, and colored. In terms of application, the market can be segmented into architecture, construction, and others.

Granite and related industries are considered to be some of the oldest industries in the world. The U.S., China, India, Brazil, Italy, Sweden, Germany, and Spain are major exporters of granite. According to the U.S. Geological Survey, domestic production of granite in the U.S. was estimated to be 1.48 billion tons in 2016. The granite was found in crushed stone form and was said to be valued at more than US$ 16.2 billion.

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Key players operating in the granite market include Ablegroup Berhad, American Marazzi Tile Inc., CaesarStone, Cosentino S.A., Craig Baker Marble Co. Inc., Levantina y Asociados Minerals SA, Dakota Granite, Daltile, Duracite Inc., JNR Granite Import & Export Ltd, Precision Countertops, Granite Transformations, American Marble & Stoneworks Inc., and Vangura Surfacing Products Inc.

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