Natural Stone And Marble Market Size, Share, Growth Analysis, By Product type(Granite, Limestone, Marble (black, red), By Application(Building, Constructions, Monumental, Others), By Region - Industry Forecast 2024-2031

In 2021, the Asia Pacific dominated the global market. China has the largest regional market share, owing to increased demand from the building industry, followed by India. China and India are the world's biggest producers of natural stones. China and India jointly accounted for more than 40% of worldwide natural stone output. These countries export a considerable portion of their products to all major consuming countries. Japan, South Korea, and Southeast Asia are all making substantial contributions to the expansion of the Global Natural Stone and Marble Market. Because of Western culture's growing emphasis on emerging countries, demand for natural stones.

Europe will hold the second-largest proportion of the worldwide market in 2021. The majority of the regional market is accounted for by Western European nations such as Italy, Germany, and France. Furthermore, because to increased renovation activity, eastern and central European nations contribute to market growth. However, the severe environmental regulations placed on sourcing and using natural building materials provide a significant hurdle for small businesses seeking to expand in this industry memorial applications is projected to rise in the near future.

The United States is the leading market for all-natural stones in North America, with a well-established commercial and residential building sector. Higher consumer expenditure on refurbishment or remodelling operations is propelling the country's market growth. The house renovation sector rose 7.6% in the third quarter of 2021 compared to the same time in 2020, according to Harvard University's Joint Center for Housing Studies.

In the Middle East, the growing emphasis on natural stones through International Stone Events is critical to the growth and sustainability of the natural stone industry and supply chains. For example, 'Middle East Stone' is the Middle East's largest annual trade fair dedicated to the stone sector. The exhibition showcases the most innovative natural stone, ceramic goods and tiles, as well as installation and maintenance solution suppliers from over 30 nations. The expanding middle-class population, disposable money, and improved urbanisation are the primary drivers of building in Africa. The building markets in South Africa, Nigeria, and Ethiopia are expanding rapidly, fuelling the use of natural stone for flooring, cladding, kitchen worktops, and bathroom applications.