New York, USA, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Construction Stone Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Construction Stone Market Information by Type, Application, And Region - Forecast till 2030”, the market is estimated to grow at a 7.8% CAGR to reach USD 37,312.10 Million by 2030.
Market Synopsis
The stones used in construction should be strong, resilient, and free from weathered soft spots of material, fissures, and other flaws that compromise their toughness and resilience. Quarrying is obtaining stones from large, solid rocks for construction needs. The advantages of construction stones over other materials, such as their non-toxicity, are becoming more well-known. Due to this important tendency, future building materials will no longer be favored over construction stones. Due to its toughness, endurance, and appealing appearance, it is mostly used in wall cladding and flooring for residential and commercial spaces. It is used for monuments, statues, and furniture. Compared to other natural stone products, it offers significant longevity and is relatively less expensive. The demand for constructed stone is rising globally due to the brisk expansion of the residential and commercial construction industries.
Marble and granite are used as patios, porches, backyards, and pavement floors because they improve the appearance of residential buildings, encouraging their adoption. The demand for construction stones is also anticipated to rise globally due to increased engineering, procurement, and construction (EPC) projects in the infrastructure sector, along with real estate and various urban infrastructure projects. Over the projected period, demand is anticipated to increase as investments in big commercial and residential buildings increase and the desire for opulent countertops to enhance interior design grows.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 37,312.10 Million |
| CAGR | 7.8% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The construction of commercial buildings like shopping malls, sales outlets. |
| The rise in the focus of the buildings which is supporting energy efficiency is also the growth of the market. |
Market Competitive Landscape:
The illustrious contenders in the construction stone market are:
- Cosentino
- Indian Limestone Company
- Levantina
- Benchmark Building Supplies Limited
- Best Cheer Stone Group
- Caesarstone
- Dow Du Pont
- Compac
- Universal Marble And Group
- SMG
- Bitto
Market U.S.P. Covered:
Market Drivers:
An increase in construction spending across several nations, including the U.S., Japan, India, and others, as well as an expansion of the building industry, all of which contribute to the growth of the construction stone market globally. The market is expanding due to the use of construction stones in residential and commercial structures that can improve the appearance of the buildings. The building industry's increased emphasis on energy efficiency is also contributing to the expansion of the market for the construction stone. The market expansion is also fueled by how little maintenance is required when using construction materials.
The need for construction stones for flooring and wall cladding is also anticipated to increase as urbanization and population growth continues to climb. This will help the global market expansion. Construction stone advantages, including longevity, aesthetic appeal, and dependability, encourage the use of slate and limestone in commercial and residential construction, which in turn fuels the expansion of the worldwide construction stone industry. The trend toward home remodeling among domestic end users, particularly in urban areas, has changed due to increased personal disposable income and increased awareness of eye-catching outdoor designs.
Market Restraints:
The primary restraint hindering expansion is the erratic and expensive items associated with the construction stone market. One of the obstacles preventing the market's expansion is even investors' lack of desire to provide financial support to manufacturing firms. However, it is anticipated that the increased use of artificial stone may impede market expansion globally in the years to come.
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COVID 19 Analysis
Due to country-wide lockdowns and delays in the production and supply of building stone used in both residential and commercial areas, the COVID-19 epidemic has hampered the growth of the market for the construction stone. Because of the abrupt stoppage of the industry, the spread of the pandemic has had a significant impact. The market value has been struggling to survive because there is no transportation or trading. Lack of export and import and a lack of global sourcing also increased demand in the industry. Due to increased market demand and sector growth, the construction industry has grown more rapidly in the post-pandemic environment.
Market Segmentation
By application, the market includes commercial infrastructure, public infrastructure, and residential infrastructure. By type, the market includes construction aggregates and natural stones.
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Regional Insights
The most popular construction stone on the market is granite, mostly manufactured in China, Brazil, India, Spain, and Saudi Arabia. The rising popularity of outdoor entertaining spaces in emerging economies has positively impacted the market, increasing the demand for construction stones for wall cladding. Additionally, the demand for building supplies like marble is growing quickly due to increased furniture and memorial construction use. The construction industry will benefit from the increased demand for infrastructure in the Asia-Pacific area, particularly for hospitals and healthcare facilities.
However, the current climate change brought on by global warming and resource depletion has led to the development of strict rules aimed at reducing emissions globally and optimizing the use of natural resources. Governmental efforts to reduce stone mining thereby limit the global market expansion. Developing nations produced a sizeable share of the world's granite and exported a sizeable amount to the United States, one of the biggest consumer markets. China is the largest producer of marble in terms of volume, but Italy is also one of the countries with abundant resources of high-quality marble. The market is expanding primarily due to the construction industry, particularly in Asia. Due to the expanding infrastructure sector and rising consumer disposable incomes, the region is experiencing a surge in construction activities. The region's growing urbanization also benefits the construction sector.
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