The global construction stone market is expected to register a CAGR of 3.55% during the forecast period 2021-2027. Construction stones have been considered one of the popular building materials since the old days due to their availability from natural rocks. Construction stone possesses high strength and durability properties, which make them an indispensable construction material worldwide. With the swelling building and construction industry, the demand will remain sustained over the near future. The residential sector is especially generating greater demand for construction stone as an expanding urban population looking to buy homes is willingly spending on the aesthetic look and sustainability, thereby pushing the market growth. The non-residential sector is also registering substantial demand for construction stone, majorly for flooring applications. With the construction industry’s accelerating move toward a sustainable future, construction stone sales will most likely remain on an upward trend.
The remarkable growth of the building and construction industry worldwide, coupled with an increasing number of infrastructural developments, is significantly contributing to the growth of the market for the construction stone. The strength, durability, and desirable aesthetic appearance of construction stone will continue to make it an ideal building material. As the green building trend firms up, leading to a rising focus on energy-efficient building materials, the market prospects of construction stone will remain attractive through the forecast period. Continued demand for applications like wall cladding, paving, roofing slate, countertops, large sinks, and even furniture is expected to support the market growth in the near future. However, the market’s growth remains restricted owing to insufficient investments in R&D of innovative surface finishes by the construction stone suppliers and other stakeholders in the stone development segment.
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While the building and construction industry has been one of the worst-hit areas because of the global COVID-19 pandemic, the construction materials like stone have also been facing a massive impact since the pandemic has arrived. The market for construction stone has particularly been affected in more than one way. The production experienced an abrupt halt due to a sudden shutdown of the plants. Due to the complete absence of logistics and transportation, and trading, the existing stock in the market suffered even more. International sourcing and import-export scenario in the construction stone market were disrupted to a large extent amid the pandemic. B2B demand also saw a major plunge, which again led to a setback in the market. With the construction industry gradually picking up, construction stone production and sales are also soon likely to shape a better future.
The report outlines the study of the structure based on types, application, and end-user.
By Type (Revenue, USD Billion, 2017-2027)
By Application (Revenue, USD Billion, 2017-2027)
By end-user (Revenue, USD Billion, 2017-2027)
The construction stone market has been segmented into five geographical regions: North America, Asia Pacific, South America, Europe, the Middle East, and Africa. In 2020, North America held the largest share in the global Construction stone market, followed by Europe and the Asia Pacific. North America is further estimated to dominate the Construction stone market during the forecast period. Moreover, Asia Pacific is expected to project the highest CAGR in the global market over the forecast period.
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The construction stone market is highly fragmented, with a large number of small players across the globe. The key construction stone market players operating in the global market include –
The construction stone market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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