Natural Stone Global Market Estimated to Surge at a CAGR of 2.4% to Reach $35.41 Billion By 2028 | The Business Research Company

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Natural Stone Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $35.41 billion In 2028 At A CAGR Of 2.4% :

The natural stone market size has grown steadily in recent years. It will grow from $31.03 billion in 2023 to $32.26 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to architectural revival and heritage restoration, rise in construction of monuments and statues, development of ancient civilizations, industrial revolution and infrastructure growth, cultural preferences and artistic expression.

The natural stone market size is expected to see steady growth in the next few years. It will grow to $35.41 billion in 2028 at a compound annual growth rate (CAGR) of 2.4%. The growth in the forecast period can be attributed to shifts in consumer preferences and design trends, global economic growth and infrastructure investments, cultural and artistic preferences, demand in luxury real estate development, renovation and restoration projects. Major trends in the forecast period include evolving consumer preferences in real estate, focus on wellness and well-being, preference for uniqueness and variation, adoption in contemporary art installations, revival of heritage craftsmanship.

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Natural Stone Market Major Segments
The natural stone market covered in this report is segmented -
1) By Type: Marble, Granite, Limestone, Other Types
2) By Construction Type: New Construction, Renovation
3) By Distribution Channel: Online Channel, Offline Channel
4) By Application: Flooring, Memorial Arts, Wall Cladding, Other Applications

Key Driver - Rising Construction Projects Fueling Growth Of Natural Stones Market

The increase in the number of constructions projects is driving the growth of the natural stones market. The construction sector refers to the organizations that deal with creating, maintaining, and repairing infrastructures. Natural stones in construction projects provide permanent natural building materials than other natural building materials, used in flooring, roofing, masonry, paving roads, and as aggregates for concrete. Additionally, natural stones are highly preferred in heavy engineering such as bridges, harbor walls, sea-side walls, ballast for railways, the foundation works, and others due to their strength, durability, and weather-resistance properties. For instance, in September 2023, according to reports shared by the United States Census Bureau, a US-based government agency, the overall value of residential and non-residential construction in the US increased by over 8% between 2020 and 2021. Furthermore, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, global construction output in 2020 stood at US$10.7 trillion. It is projected to experience substantial growth of approximately 42%, adding US$4.5 trillion and reaching a total of US$15.2 trillion by the year 2030. Therefore, the increase in the number of construction projects is expected to propel the growth of the natural stones market going in the coming years.

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Prominent Trend - Revolutionizing Natural Stones With The Role Of Technological Advancements In The Market

Technological advancement is the key trend that is gaining popularity in the natural stones market going forward. Major companies operating in the natural stones sector are focused on technological advancements to strengthen their position. For instance, in January 2022, Häfele GmbH & Co KG, a Germany-based manufacturer, and supplier of furniture fittings and architectural hardware, introduced Dekton, a commercial surface that incorporates components of metamorphic rocks, sand, soil, and even marine surfaces. It uses super compacting technology to recreate and reimagine these characteristics as natural stone. Dekton surfaces provide higher resistance to abrasion and ultraviolet (UV) light which prevents them from fading or degrading over time and makes them an ideal surface for high-traffic areas and outdoors.

Natural Stone Market Players
Major companies operating in the natural stone market report are Granite Canada Incorporated, MSI Stone Group Incorporated, Granitestone Incorporated, Cosentino Sociedad Anónima Unipersonal, Stone International Limited, Southland Stone USA Incorporated, Dongxing Group Company Limited, CUPA Group Sociedad Anónima, Antolini Luigi & C. Società per Azioni, Polycor Incorporated, Rock of Ages Canada Limited, Aro Granite Industries Limited, Xishi Stone Group Company Limited, Pakistan Onyx Marble & Granite Trading Company Limited, Vetter Stone Gesellschaft mit beschränkter Haftung, Levantina y Asociados de Minerales Sociedad Anónima, Worldwide Stone Imports Limited Liability Company, Ahjar Sinai Marble & Granite Company Limited, Stone Source International Incorporated, Granite & Marble Warehouse Limited Liability Company, Dimpomar Sociedad Anónima, Dermatzakis Brothers Sociedad Anónima, MARGRAF Società per Azioni, Mumal Marbles Private Limited, Temmer Marble & Granite Trading Gesellschaft mit beschränkter Haftung, Topalidis Sociedad Anónima, Ranamar Mármoles Sociedad Anónima, Amso International société par actions simplifiée, Marble Innovators Limited Liability Company, Marble Trends Incorporated, Marble Granite and Stone Incorporated

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the natural stone market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the natural stone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Natural Stone Market Report Structure
3. Natural Stone Market Trends And Strategies
4. Natural Stone Market - Macro Economic Scenario
5. Natural Stone Market Size And Growth
…..
27. Natural Stone Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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