USD 37.29 Billion
Construction Stone Market Size, Share, Growth Analysis, By Stone Type(Granite, Marble, Limestone, Sandstone), By Application(Residential Construction, Commercial Construction, Infrastructure Projects), By End-User(Real Estate and Development, Infrastructure, Commercial and Institutional), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2188 |
Region:
Global |
Published Date: May, 2024
Pages:
184
|Tables:
93
|Figures:
71
Construction Stone Market Insights
Global Construction Stone market size was valued at USD 37.29 Billion in 2022 and is poised to grow from USD 48.10 Billion in 2023 to USD 54.68 Billion by 2031, at a CAGR of 4.9% during the forecast period (2024-2031).
Rapid infrastructural development and urbanization are important factors, as seen in the Asia-Pacific area in particular. Unprecedented urbanization is occurring in countries like China and India, which is driving up construction activity and, in turn, raising the need for construction stone. The demand for long-lasting and visually beautiful building materials to facilitate the development of infrastructure projects, commercial buildings, and residential complexes drives market expansion in these areas.
Another important factor influencing the global market for construction stones is economic development. Construction expenditure is driven by economic growth in developed economies such as North America and Europe, which in turn stimulates demand for construction stone. Favorable loan circumstances and growing disposable incomes promote investments in residential and commercial real estate, which in turn increases demand for building supplies like stone.
Global infrastructure development initiatives and the fast pace of urbanization have been major factors propelling the construction stone industry. Stones are among the building materials that are constantly in demand for residential, commercial, and industrial construction as metropolitan areas grow.
The demand for construction stones has increased due to government measures to promote construction activity and economic growth in emerging markets. The sector is propelled forward by investments made in public works projects including roads, bridges, airports, and other infrastructure.
North America, Europe, Asia-Pacific, and the Rest of the World are the regions for which the study offers market information. With the biggest market value is the Asia Pacific region. This boom in the Asia Pacific region can be attributed to the rise in the usage of building stone in both the residential and non-residential sectors. One of the main forces behind the growth of the Asia Pacific area is the need to build environmentally friendly structures.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Natural Stones
Fastest Growth
Granite
Growth Rate
4.9% CAGR
Global Construction Stone Market ($ Bn)
Country Share For North America Region (%)
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Construction Stone Market Segmental Analysis
The Global Construction Stone market is segmented on the basis of by Type of Stone, Application, End-Use Industry, Region, Product Form, Distribution Channel. By type, the market is segmented into Granite, Marble, Limestone, Sandstone, Travertine, Natural Stones. By Application, the market is segmented into residential construction, commercial construction, infrastructure projects. By End-User Industry, the market is segmented into real estate & development, infrastructure, commercial and institutional. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa. By Product Form, the market is segmented into Crushed Stone, Dimension Stone. By Distribution channel, the market is segmented into Direct sales, distributers/wholesalers.
Analysis By Type of Stone
When it comes to stone types, granite leads the market. Generally, granite is used to construct temples, gravestones, and memorials. Before the invention of electric tools and equipment, granite carving required time. It took a lot of labor as well. Stone was therefore saved for big projects.
The marble category is expected to grow at a significant rate over the forecast period. Marble is usually utilized for structures, monuments, tabletops, novelty items, and interior design. The two most important things about them are appearance and color.
The need for building stones is further fueled by the availability of other stones including travertine, sandstone, and limestone.
Analysis By Applications
Residential construction is the primary application category. Residential construction is the process of creating a new home or other structure intended to be used for residential purposes. Residential development can be hard because there are numerous phases and parties involved.
Forecasting indicates that the category of commercial building will probably have a sizable CAGR. Commercial construction refers to the construction of buildings and other structures for use in businesses. Manufacturers, warehouses, retail stores, and office buildings make up this structure.
Construction stones are in demand for further uses, including infrastructure projects, landscaping, and monuments and memorials.
Global Construction Stone Market By Type Of Stone
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Construction Stone Market Regional Insights
The global market for construction stones demonstrates a range of regional dynamics that are influenced by various factors, including cultural preferences, economic development, and geological abundance. The demand for building stone is significantly driven by the fast urbanization and infrastructural development occurring in regions like Asia-Pacific, especially in nations like China and India. Due to its vast construction operations, China, the world's largest buyer and producer of construction stone, has experienced robust expansion. India's rapidly expanding construction industry, which is supported by government programs encouraging infrastructure development, also makes a significant contribution to regional demand.
The construction stone market in North America is a cross between established markets and new developments. Thanks to a robust residential and commercial construction industry, the United States is the dominant country in the region. The growing preference of homeowners for natural stone materials due to its durability and aesthetic appeal in landscaping and restoration projects is another factor driving the demand for construction stone in North America. Similar trends may be seen in Canada's construction stone business, albeit on a somewhat smaller scale.
Europe continues to have a continuous demand for construction stone due to its emphasis on sustainable construction methods and rich architectural legacy. Reputable nations like Italy, Spain, and Turkey are well-known for their granite and marble resources, which serve both local and foreign markets. The region's emphasis on protecting historically significant sites and encouraging environmentally friendly building materials helps to maintain the market for construction stone, while regional differences in these factors are dependent on construction patterns and economic situations.
The construction stone market dynamics in the Middle East and Africa are influenced by tourism industry investments, urbanization, and infrastructure developments. Mega-projects including high-rise buildings, opulent resorts, and urban developments are the main drivers of the substantial demand for construction stone in nations like the United Arab Emirates, Saudi Arabia, and Qatar. The region's need is further increased using building stone in traditional architecture and landscaping, while there are differences based on geopolitical and economic stability.
In terms of the construction stone market, Latin America offers a combination of opportunities and constraints. The construction of both residential and commercial buildings sustains a consistent need for construction stone in nations like Brazil, Mexico, and Argentina. Initiatives for infrastructure development and financial contributions to public works initiatives support market expansion. However, market expansion is hampered by political unrest and economic volatility in some areas, which forces participants to maneuver a challenging commercial environment.
Global Construction Stone Market Geography
- Largest
- Fastest
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Construction Stone Market Dynamics
Drivers
Building is driven by rapid urbanization Growth of the Stone Market
- Construction on homes, businesses, and infrastructure is on the rise, especially in emerging nations where urbanization is happening quickly. As more people live in cities, there is a greater need for construction stones for both residential and commercial buildings, which expands the market.
Building Stone Demand Is Fueled by Infrastructure Expansion
- The development of roads, bridges, airports, and railroads generates a significant demand for building supplies, especially stones. The market for building stones is expanding due in large part to the requirement for strong, premium materials in infrastructure projects.
Increasing Need for Stones in Residential Construction
- The demand for newly constructed and renovated residential properties is driven by rising income levels, urbanization, and an expanding middle class. Residential applications for construction stones, like flooring, countertops, and facades, are common and help drive market expansion.
Growing Need for Stones in Residential Construction
- Changing architectural styles and a desire for organic, visually beautiful materials fuel the market for different kinds of building stones. Demand for stone applications that are novel and distinctive is rising as a result of consumers and developers looking to improve the aesthetic appeal of buildings.
Restraints
- Environmental issues such as habitat disruption, deforestation, and landscape alteration are brought up by the quarrying process used to extract natural stones. Growing environmental awareness and legislation may restrict quarrying, which would impact the availability of construction stones and the supply chain.
- Heavy stone materials can be expensive to transport, particularly when traveling great distances, from quarries to construction sites. Excessive transportation expenses can raise the total cost of building stones, which reduces their ability to compete in far-off markets.
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Construction Stone Market Competitive Landscape
The main market players are extensively funding R&D to grow their product ranges, which will encourage additional market expansion. Market participants are expanding their worldwide footprint through strategic actions such as partnerships, mergers and acquisitions, new product releases, higher investments, and collaboration with other organizations. These developments are contributing significantly to the market. Competition in the construction stone market needs to provide reasonably priced goods in order to survive and expand in an increasingly cutthroat environment.
One of the primary business strategies used by manufacturers in the worldwide Construction Stone industry to benefit customers and increase market share is manufacturing locally to reduce operating costs. By sponsoring R&D projects, major industry participants including JSC Stone & ALPS Stone, Levantina y Asociados de Minerales, S.A., Benchmark Building Supplies Limited, Xiamen Yeyang Stone Group, and others are trying to boost market demand.
Top Player’s Company Profile
- JSC Stone & ALPS Stone
- Levantina y Asociados de Minerales, S.A.
- Benchmark Building Supplies Limited
- Xiamen Yeyang Stone Group
- Precision Countertops, Inc.
- Regatta Universal Exports
- Vulcan Materials Company
- Eurocement Group
- CRH plc
- Holcim Group
- Adelaide Brighton Ltd.
- HeidelbergCement AG
- Barrette Outdoor Living, Inc.
- Cemex S.A.B. de C.V.
- LafargeHolcim Ltd.
Recent Developments
- Holcim acquired Chrono Chape, a well-known independent French provider of self-leveling screeds for on-site use, in January 2023. The smooth foundation these fluid processes create allows builders to lay down floor finishes like carpet or tile. Its extensive position in the French ready-mix concrete market forges a strong partnership between efficiency and innovation.
- For USD 1.9 billion, TorQuest Partners and Caisse de depot et placement du Québec (CDPQ) sold Barrette Outdoor Living, Inc., the leading residential fencing and railing solutions provider in North America, to CRH plc, the largest construction material manufacturer in the world, in June 2022. The acquisition aims to optimize shareholder value by effectively allocating and reallocating cash.
Construction Stone Key Market Trends
- The building stone sector is expanding due to growing interest in natural stones and building projects.
- Artificial or manufactured stones, like quartz, are becoming more and more in demand. Engineered stones are said to be more sustainable than alternatives since they provide consistent quality and customisable designs.
- Efficiency and accuracy are being improved by ongoing developments in stone processing technology, such as shaping, cutting, and finishing.
- The appearance of natural stone with less weight and thickness can be achieved with thin stone veneer, which is becoming more and more popular. It is frequently applied to both indoor and outdoor settings.
- A growing number of construction projects, both residential and commercial, are seeking distinctive and customized patterns for their stones.
- Construction stone marketing and sales are increasingly utilizing digital technologies, such as augmented reality, virtual showrooms, and internet marketing.
Construction Stone Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis of the Global Construction Stone Market, In recent times, the growing building and infrastructure sectors have propelled the global demand for construction stones.
Building of residences, commercial buildings, and infrastructure is expanding, particularly in developing countries where urbanization is accelerating. The demand for construction stones for both residential and commercial buildings increases as more people move into cities, expanding the market. The construction of highways, bridges, airports, and railroads creates a considerable need for building materials, particularly stones. The demand for sturdy, high-quality materials in infrastructure projects is driving the growth of the building stone market. Natural stone extraction from quarries raises environmental concerns about habitat disruption, deforestation, and altered landscapes. Legislation and growing environmental consciousness may limit quarrying, which would affect the supply chain and the availability of building stones. Transporting bulky stone materials can be costly, especially when they need to be transported over long distances from quarries to construction sites. The overall cost of construction stones can increase due to excessive transportation costs, making them less competitive in distant markets.
North America, Europe, Asia Pacific, the Middle East, and Africa are the main regional markets for construction stones, with North America holding the greatest market share. Xiamen Yeyang Stone Group, Benchmark Building Supplies Limited, Levantina y Asociados de Minerales, S.A., JSC Stone & ALPS Stone, Precision Countertops, Inc., and Regatta Universal Exports are a few of the leading companies in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 37.29 Billion |
| Market size value in 2031 | USD 54.68 Billion |
| Growth Rate | 4.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Construction Stone Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Construction Stone Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Construction Stone Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Construction Stone Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Construction Stone Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Construction Stone Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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