Global Natural Stone Market Size, Growth, Demand, Industry Share, Key Players

Natural stones Market

Natural stones are a range of products which are mined from the earth and are used as construction and decorative materials, and in furniture and statuary & monuments. These products include marble, granite, limestone, travertine, sandstone, quartzite, and other products. Natural stones are the most consistent source of beauty and durability. They differ in color, composition, and texture even though the pieces are from the same source.

In terms of revenue, the global natural stone market was valued at US$ 80.5 Bn and in terms of volume; it was 275.9 Mn Tons in the year 2018. The market is expected to grow with a significant CAGR during the forecast period. The main factors which are accentuating the growth of the natural stone market are, increasing building renovation and remodeling activities and increasing demand for natural stone from the paper & pulp industry.

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However, concerns regarding radiations and the reaction of natural stones with acid rain might hinder the growth of the natural stone market during the forecast period. The U.S. remodeling market grew by more than 50% in terms of expenditure from 2008 and reached 425 billion US$ in 2017. This will accelerate the market demand for natural stones in the US, especially for bathrooms and kitchens.

The global natural stone market is segmented on the basis of type, application and distribution channel. On the basis of type, the market is categorized as granite, marble, limestone, travertine, and others. Granite held the largest market share in the year 2018 followed by limestone, and travertine.

The extensive use of granite as construction material and architectural stone is expected to increase granite market. In addition to this, the marble segment is expected to grow with a significant CAGR during the forecast period, owing to its usage in paints, cosmetics, and paper due to its optical properties. Marble is widely being used due to its low cost and the availability of abundant resources.

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