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Cobblestone Market: Share, Industry Trends, Segmentation, and Size Predictions
Cobblestone Global Market Report 2024
According to The Business Research Company's, The cobblestone market size has grown steadily in recent years. It will grow from $7.54 billion in 2023 to $7.81 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to increased prevalence of liver diseases, improved patient management strategies, government initiatives and funding, awareness and education programs, rise in liver disease risk factors..
The cobblestone market size is expected to see strong growth in the next few years. It will grow to $9.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to increasing aging population, advancements in precision medicine, growing global healthcare expenditure, focus on early intervention, regulatory support for orphan drugs.. Major trends in the forecast period include personalized medicine approaches, patient-centric care, integration of biomarkers, telemedicine and remote monitoring, innovation in renal replacement therapies, combination therapies..
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Market Drivers and Trends:
An increase in demand for the construction industries is expected to propel the growth of the cobblestone market going forward. The construction industry is the industrial branch of production and trade that is concerned with the construction, repair, renovation, and maintenance of infrastructures. Cobblestones are used in various construction applications such as creating unique and durable pavements and walkways, creating stable and durable driveways and garden paths, and creating decorative walls to provide both aesthetic and functional benefits. For instance, in February 2022, according to the report by ConstructConnect, a US-based leading provider of software solutions for the preconstruction industry, construction starts grew by 6.5% to $91.8 billion in 2021. Both the residential and non-residential sectors saw a rise in residential structures of 19.7%. The construction of non-residential buildings rose by 22.5%. Therefore, an increase in demand for the construction industry is driving the growth of the cobblestone market.
Technology advancements are a key trend gaining popularity in the cobblestone market. Companies operating in the cobblestone market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Franz Carl Nüdling GmbH, a German-based manufacturer of stones and concrete, partnered with Betolar PLC, a Finland-based materials technology company, introduced innovative manufacturing technology known as Geoprime solution to produce sustainable and low-carbon concrete from concrete paving blocks. The current composition of an 8-cm-stone-height concrete block paver produces around 20 kilograms of CO2 per square meter by using FCN's revolutionary technology it greatly lowered to less than 5 kg of CO2 per square meter that is 75% less than the previous value.
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Major Key Players of the Market:
Dakota Granite Co.; DAL-Tile Group Inc.; Sunrise Quartzite Private Limited; Veneer Stone Works; Environmental StoneWorks; Cobblestone Development Group; Grupo Cosentino S.L.; Vangura Surfacing Products; Maharaja Stones; Akrolithos S.A; Agarsen Granite And Stones; Elegant Natural Stones Private Limited; CEMEX S.A.B. de C.V.; Boral Limited; Hanson Natural Stone Company Limited; 3A Composites; Créa Stone; Jim Stone; Ajmera Marbles Industries; Granite Setts UK Ltd.; Paving International; Real Goods Co.; Southland Stone Inc.; Leeca Ltd.; Polycor Inc.; Xishi Stone Group; US Stoneworks Inc.; Style Earth Precast Concrete Pvt. Ltd.; Cobblestone Pvt. Ltd.; Austin Paving
Cobblestone Market 2024 Key Insights:
• The cobblestone market will grow to $9.55 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%.
• Rising Demand In Construction Industries Fueling Growth In The Cobblestone Market
• Tech Advancements Transforming The Cobblestone Market Presence
• Asia-Pacific was the largest region in the cobblestone market in 2023
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