Natural Stone Market Worth $48,068.4 Million by 2026 | by Type, Application

According to a new report published by Allied Market Research, titled, "Natural Stone Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global natural stone market size was valued at $35.1 billion in 2018, and is projected to reach $48.0 billion by 2026, growing at a CAGR of 3.9% from 2019 to 2026.

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The natural stones include quartzite, slate, limestone, sandstone, marble, granite, and others. Natural stone are used for building purposes and construction of monuments. They play a vital role in improving the visual appeal of commercial buildings and infrastructure through innovative landscaping and flooring solutions. Increase in awareness toward outdoor entertainment area, especially among millennials is anticipated to drive the growth of the global natural stone market in the coming years. Furthermore, rise in adoption of marble and granite for kitchen countertop is expired to gains traction in the recent years, due to their enhanced durability and hardness.

Key Market Segments

The global natural stone market is segmented into type, application, and region. Depending on type, the market is categorized into marble, granite, limestone, and others. The marble segment was largest revenue contributor in 2018, due to increase in adoption of marble in developing countries. The applications covered in the study include flooring, memorial arts, wall cladding, and others. The wall cladding segment registered highest CAGR in 2018, owing to increase in construction and infrastructural developments such as warehousing sectors, hotels & leisure facilities, and schools & universities, especially in developing regions.

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Geographic Review

Region wise, the natural stone market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the largest share in the market in 2018, owing to rapid urbanization and presence of economies such as India, Malaysia, China, and Indonesia.

Key Players

The key market players profiled in the report of natural stone market include Aro Granite Industries Ltd., Dimpomar, Dermitzakis Bros S.A., Levantina y Asociados de Minerales, S.A., MARGRAF, Mumal Marble, Polycor Inc., Temmer Marble, Topalidis, and Xishi Stone Group.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

This release was published on openPR.