Increase in disposable income of individuals and surge in awareness of attractive outdoor designs have shifted the inclination toward home remodeling.
PORTLAND, OR, UNITED STATES, November 17, 2021 /EINPresswire.com/ — A number of domestic players are expanding their business in Asia-Pacific and North American regions, owing to increased customer base, developed product portfolios, and expanded geographical reach. This is anticipated to fuel the demand for the granite and marble, thereby augmenting the growth of the market.
According to a new report published by Allied Market Research, titled, “Natural Stone Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global natural stone market size was valued at $35.1 billion in 2018, and is projected to reach $48.0 billion by 2026, growing at a CAGR of 3.9% from 2019 to 2026.
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The natural stones include quartzite, slate, limestone, sandstone, marble, granite, and others. Natural stone are used for building purposes and construction of monuments. They play a vital role in improving the visual appeal of commercial buildings and infrastructure through innovative landscaping and flooring solutions. Increase in awareness toward outdoor entertainment area, especially among millennials is anticipated to drive the growth of the global natural stone market in the coming years.
The increasing rate of building renovation and remodeling majorly drive the growth of the market. However, fluctuations in foreign currency exchange continue to influence the profit margins for the market players, and is projected to hinder the growth of the market in the coming years. Furthermore, increase in new construction activities, especially in emerging economies is anticipated to drive the natural stone market growth during the forecast period.
Aro Granite Industries Ltd.
Dermitzakis Bros S.A.
Levantina y Asociados de Minerales, S.A.
Xishi Stone Group
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Key Benefits for The Market:
The report provides an extensive analysis of the current and emerging natural stone market trends and dynamics.
An in-depth natural stone market analysis is conducted by constructing estimations for the key segments between 2018 and 2026.
Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global natural stone market forecast analysis from 2018 to 2026 is included in the report.
Key market players operating in the global market are profiled in this report, and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the natural stone industry.
Key Market Segmentation
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