The granite market is being driven by an advancing construction sector and the versatile application of granite as a construction material. For instance, rough-cut and polished granite is deployed in building walls, pavements, bridge piers, monuments, and road curbs, among others. Additionally, granite finds use as coarse aggregate in concrete, as an external wall cladding material, as aggregates in road construction, and as ballast for railways.
Granite producers are catering to the B2B and B2C buying needs of granite buyers across the world by providing them with a variety of products like granite slabs, tiles, and others. Additionally, the growth of the e-commerce market and the easy availability of bulk granite slabs and stones for use as countertops, pavers, and home accents through online platforms like Alibaba Group Holding Ltd (NYSE: BABA) are expected to significantly contribute to the market growth over the forecast period.
The Asia Pacific is anticipated to lead the growth of the market with a significant market share, owing to the growing product demand for downstream construction applications and rapid urbanisation. A surge in the production of granite can also be observed in countries like China and India. While Chinese granite is popular globally owing to its cost-effectiveness, Indian granite is rising in preference among residential and commercial project developers, owing to its strength, colour richness, and lustre. Rising construction activities have propelled the growth of stone quarrying and processing units in the Asia Pacific. Further, the rising infrastructural activities in North America and Europe are also contributing to granite demand, aiding the market growth.
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The major players in the global granite market are Marcolini Marmi S.p.A, Levantina y Asociados de Minerales, S.A., George Home Group Inc., Arizona Tile, L.L.C., AbleGroup Berhad, LandFord Stone Ltd., AG Marble & Granite, Temmer Marble, Amarestone, and MDY, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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