Natural Stone Market 2020 Analysis by Component, Type, Application, End-user and Region

An increase in awareness toward the outdoor entertainment area, especially among millennials is anticipated to drive the growth of the global natural stone market in the coming years. Furthermore, the rise in the adoption of marble and granite for kitchen countertop is expired to gains traction in recent years, due to their enhanced durability and hardness.

Allied Market Research published a report, titled, "Natural Stone Market by Type (Marble, Granite, Limestone, and Others) and Application (Flooring, Memorial Arts, Wall Cladding, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global natural stone industry was estimated at $35.12 billion in 2018 and is expected to hit $48.06 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026.

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Asia-Pacific, followed by Europe and North America, to dominate during the study period-

Based on geography, the Asia-Pacific region held the largest share in 2018, generating nearly half of the global natural stone market and is projected to maintain the lion's share during 2019–2026. This is attributed to easy availability of raw materials & economies of scales. Simultaneously, North America is predicted to register the fastest CAGR of 4.2% throughout the forecast period.

The granite segment to lead the trail till 2026-

Based on type, the granite segment accounted for more than two-fifths of the global natural stone market share in 2018 and is expected to retain its dominance through 2019–2026. Granites are now widely used in making gravestones, sculpture, and memorials due its hardness and appealing appearance, which has accelerated the growth of the segment.

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Key Finding of The Natural Stone Market:
• The report provides an extensive analysis of the current and emerging natural stone market trends and dynamics.
• Depending on type, the granite segment dominated the market, in terms of revenue, in 2018; however, the marble segment is projected to grow at a CAGR 4.7% during the forecast period.
• By application, the flooring segment led the market in 2018.
• North America is projected to register the highest growth rate in the coming years.
• Key market players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the natural stone industry.

The acquisition has expanded Polycor’s product portfolio for natural stone building products. Similarly, in February 2017, Temmer Marble established a new showroom and gallery in Afyon, Turkey to expand its business and presence in Asia Minor. The showroom is 600 square meter in area and the gallery is 2,000 square meters, which displays over 150 samples of natural marble.

Leading players in the market-
• Dimpomar,
• Dermitzakis Bros S.A.
• Xishi Stone Group
• Levantina y Asociados de Minerales, S.A.
• Aro Granite Industries Ltd.
• Mumal Marble
• Polycor Inc.
• Temmer Marble
• MARGRAF
• Topalidis

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