Global Granite Market to Grow at a CAGR of 5.2% During 2024-2032, Aided by the Growing Residential and Commercial Construction Worldwide.

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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Market Breakup by Product, Application, and Region:

• The market is segmented based on product into granite slabs and granite tiles, among others.

• The different applications of granite include kitchen counterparts, flooring, stair treads, and monuments, among others.

• Region-wise, the global market for granite can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The demand for luxury homes drives the market for premium building products and materials, including high-quality granite products like granite slabs and tiles.

• Granite is increasingly being used in modern construction, from kitchen surfaces to paving slabs as they are tough, can be easily cleaned, and resist long-term wear and tear.

• Granite is found in sculptures, such as memorial or religious statues, garden decorations or fountain centrepieces, as the stone is extremely sturdy against all sorts of weather conditions.

• The market is being favoured by the construction of commercial establishments, such as hotels, malls, resorts, and offices, and the growing urbanisation trends.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for granite for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product, application, and major regions of granite.

• The market report also analyses the trade data covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

Key Highlights of the Report:

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