Press release
Dimension Stones Market Size, Future Trends, Key Growth Drivers, Share Analysis And Forecast To 2033
Dimension Stones Market Overview
The Business Research Company offers in-depth market insights through Dimension Stones Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The dimension stones market size has grown strongly in recent years. It will grow from $8.6 billion in 2023 to $9.19 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to increase in demand for natural stones, strong economic growth in emerging markets, increase in production capacities and low-interest rate environment.
The dimension stones market size is expected to see strong growth in the next few years. It will grow to $11.68 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increase in demand for natural stones, strong economic growth in emerging markets, increase in production capacities and low-interest rate environment. Major trends in the forecast period include employing precision surface excavation machines to carry out smoother operations in environmentally regulated areas, investment in robotics to improve mining productivity and prevent mining accidents, invest in cognitive computing to improve the efficiency of mining operations, investing in renewable energy capacities to reduce carbon emissions from mining zones, and ultimately drive down their energy costs, and usage of 3d mine visualizers to identify difficult terrains and enhance productivity.
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Market Segmentation:
The dimension stones market covered in this report is segmented -
1) By Type: Marble, Granite, Limestone, Sandstone, Other Types
2) By Mining Type: Underground Mining, Surface Mining
Major Driver - Infrastructure Development Boom Sparks Growth In The Dimension Stone Mining Market
The surge in capital expenditure on infrastructure development is projected to propel the revenue for the dimension stone mining market over the forecast period. Growth in capital expenditure on infrastructure is led by the growing population, rapid urbanization, strong economic growth, and migration of people toward urban areas. For instance, according to the Global Infrastructure Outlook, which forecasts infrastructure investment needs across 50 countries and seven sectors by 2040, the global population is expected to grow by almost 2 billion people or a 25% increase and around 46% of the global population will migrate from rural to urban areas by 2040, triggering massive demand for infrastructure support. Moreover, the outlook forecasts that the global infrastructure investments need to reach $94 trillion by the end of 2040, to keep pace with demographic and economic changes worldwide. The increasing expenditure on infrastructure is likely to generate a higher demand for stone materials in the buildings & construction industry, which in turn is expected to contribute to the market growth.
Competitive Landscape:
Major companies operating in the dimension stones market report are Vulcan Materials Company, Martin Marietta Aggregates Inc., HeidelbergCement AG, CRH plc., Cemex S A B de C V, LafargeHolcim, Carmeuse Lime & Stone Inc., MDU Resources Group Inc., Rogers Group Inc., Summit Materials Inc., ASI Industries Limited, JSC Stone, Xishi Group, Dongsheng Stone Industry Corporation, Hongfa Group, Fujian Quanzhou South Star Marble Corporation, Huahui Enterprise, Xiamen Songda Stone Co. Ltd., Gaoshi Stone Group, Universal Marble & Granite Group Ltd., Kangli Stone Group, Dong Guan Dong Cheng Stone Products Company Limited, Geotomographie GmbH, Glencore, BHP, Rio Tinto, Anglo American, Antofagasta, UK Coal Surface Mines Limited, Metalloinvest MC LLC, Severstal Group, Evraz Group SA, NLMK Group, Mechel, EuroChem Group, Ferrexpo Plc, Black Iron, ArcelorMittal S.A., Internacional de Cerámica Mexico, Cold Spring Granite Company, Graymont Limited, Granicor Inc, Polycor Inc, California Crafted Marble Inc., Daltile corporation, Southland Stone USA Inc. (USA), Cemex, Vitoria Stone, PEVAL, Marmifera, Coex granite, GRANIMASTER, Goldstone Marble &Granite Co., Art Stone International, Boulevard Marble, Saudi Comedat Company Ltd., Traco International Co., Marble Homes Co., Saudi Marble & Granite Factory Co. Ltd., Classic Dimension Stone Mining Pvt. Ltd., Afrimat Ltd, Drift Supersand (Pty) Ltd, Dream Stone, Dermitzakis Bros South.Africa, Denron Quarries (Pty) Ltd., CiBi Nigeria Limited, Multiverse Mining & Exploration plc, Dakota Granite Company
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Top Trend - Innovation Takes Center Stage Dimension Stones Market Embraces Product Advancements
Product innovation is the key trend gaining popularity in the dimension stones market. Major companies operating in the dimension stones market are focusing on launching new dimension stone products for residential and commercial buildings. For instance, in May 2023, The Quarry an India-based manufacturer of dimension stones launched perfectly paired marble, granite, and onyx flooring dimension stones. The new dimension stone has a uniform thickness of 20 mm or 2 cm and an unparalleled degree of assistance from The Quarry Projects' team of installation specialists.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Dimension Stones Market Characteristics
3. Dimension Stones Market Trends And Strategies
4. Dimension Stones Market - Macro Economic Scenario
5. Dimension Stones Market Size And Growth
…..
27. Dimension Stones Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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