Global Natural Stone Market to Grow at a CAGR of 3.90% During 2024-2032, Aided by Increasing Construction of Both Commercial and Residential Buildings Worldwide

As the global residential and commercial sectors are expected to witness significant growth over the coming years due to an increase in global restructuring initiatives, the natural stone market size is expected to expand over the forecast period. This can be attributed to rising requirements for stone products across various construction applications.

Stone slabs are regularly used in building arches, walls, dams, abutments, and other structural elements. Furthermore, natural stone slabs provide properties such as superior strength, high functionality, and durability that make the product well-suited for demanding construction projects.

Further, the United States construction materials market is expected for substantial expansion in the coming years, driven by the rising new residential and commercial construction activities nationwide. Industry trends reflect an accelerating transition toward domestic production to meet this rising demand for flooring and walling applications. Numerous Italian firms increased their investment and presence in the U.S. market. Favourable conditions such as accessibility of raw inputs and a massive customer base have incentivised this foreign direct investment, aiding the demand of natural stone.

The increasing demand for sustainable and environmentally friendly construction materials is driving the need for natural stone slabs. The desire for green building solutions that have a smaller carbon footprint is promoting the adoption of natural stone, which is durable and long-lasting. In addition, rising public and private sector investments in infrastructure development are expected to generate new opportunities for market participants.

ARO Granite Industries (NSE: AROGRANITE) specialises in the production of polished and flamed granite tiles and slabs. As India's leading processed granite exporter, ARO boasts a significant production capacity of 1 million square meters annually. The company procures over 100 unique granite and quartzite varieties from a diverse range of sources, including India, Brazil, Norway, Finland, Africa, and Ukraine. ARO leverages cutting-edge technology and a team of highly skilled personnel to enhance the inherent beauty of these natural stones. ARO's extensive customer network spans across the globe, fulfilling the granite needs of over 50 countries in regions like the USA, Canada, Europe, Japan, the Far East, and South Pacific nations.

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Market Breakup by Type, Application, Construction Type, and Region:

• On the basis of type, the market is divided into marble, granite, and limestone, among others.

• The market can be segmented based on application into flooring, memorial arts, and wall cladding, among others.

• On the basis of the construction type, the market is categorised into new construction and renovation, among others.

• By region, the market can be classified into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global construction industry has seen considerable expansion in recent years, generating promising prospects for market players. Natural stones like granite and marble are extensively employed in flooring applications to enhance visual appeal, commonly serving as viable paving solutions for areas such as porches, backyards, walkways, and patios. Consistent with this trend, the upswing in engineering, procurement, and construction projects within the infrastructure sphere has been propitious for the market expansion. Rising investment in public works such as roads, bridges, utilities, and other civil works has correlated with higher demand for durable, attractive surfacing materials.

• The increased utilisation of natural stones like marble and granite in the fabrication of kitchen countertops represents a pivotal development in the market. These mineral-based materials provide enhanced durability and stability for kitchen work surfaces while also offering aesthetic appeal. Marble and granite withstand the rigours of daily food preparation and have a solid, weighty quality that prevents shifting or movement under heavy pots and pans.

• The Asia Pacific is witnessing a surge in demand for granite and marble, fuelled by the robust economic growth of developing nations like China, India, Japan, Malaysia, and Australia. This economic prosperity is translating into increased investments in construction, particularly for wall cladding. This trend is expected to further propel the natural stone market growth in the region.

Key Offerings of the Report:

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

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the types, applications, construction types, and major regions of natural stone.

• 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 natural stone market are ARO Granite Industries Ltd., Dimpomar Rochas Portuguesas, LDA, Dermitzakis Bros S. A., Levantina y Asociados de Minerales, S.A., Margraf SPA, Mumal Marbles Pvt. Ltd., Polycor Inc., Xishi Group Development Co., Ltd., Topalidis S.A. Marble & Granite, and Temmer Marble, 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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