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Natural Stone Global Market Report 2024 Market Report 2024-2033 | Size, Growth, Growth Demand, Trends
Natural Stone Global Market Report
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According to The Business Research Company's, 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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Market Drivers and Trends:
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.
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.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Natural Stone Market 2024 Key Insights:
• 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%.
• Rising Construction Projects Fueling Growth Of Natural Stones Market
• Revolutionizing Natural Stones With The Role Of Technological Advancements In The Market
• Asia-Pacific was the largest region in the natural stone market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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