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For the global natural stone market, significant growth is expected worldwide in the forecast period due to the diverse uses of natural stone in the interiors of houses. Depending on the application, the flooring subsegment is expected to be the most productive. The Asia-Pacific region is expected to hold the largest share of the market.

New York, USA, November 29, 2021 (GLOBE NEWSWIRE) – According to a report released by Research Dive global natural stone market is expected to have sales of $ 53,550.3 million and get up healthy CAGR of 4.6% over the estimated period of 2021

The rise in the Covid-19 pandemic has had just as negative an impact on the natural stone market as it has on several other industries. During the pandemic, the natural stone industry ceased its activities such as quarrying activities, logistics and the functioning of administrative offices due to the spontaneous spread of the novel coronavirus. In addition, the strict lockdowns have forced natural stone manufacturers to completely close their factories and lay off employees. The unavailability of labor has posed challenges for the industry to meet the demand for emergency construction projects. All of these factors are responsible for the decline of the natural stone market during the Corona crisis.

According to our analysts, with the growing demand for natural stone in the various indoor applications of apartments such as living room, bathroom, kitchen and many others, the natural stone market is expected to grow exponentially during the analysis period. In addition, the use of natural stone, most commonly the granite in kitchen countertops, due to its durability and heat resistance, is expected to stimulate the growth of the market during the forecast period. In addition, the increasing demand for natural stone in construction due to rapid urbanization, the development of smart cities and megaprojects are the factors that will support the growth of the natural stone market in the estimated period. However, the presence of alternative building materials such as ceramic tiles may hamper the growth of the market over the forecast period.

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The Granite sub-segment is expected to generate revenue of $ 20,201.8 million and expect steady growth over the forecast period. This is mainly due to the beneficial properties of granite such as hardness, elegance and high heat resistance. In addition, the granite can bear a considerable weight and be weather and abrasion resistant. These factors are expected to fuel the growth of the Natural Stone Market subsegment during the analysis period.

The flooring subsegment is expected to generate revenue of $ 28,318.7 million over the forecast period. This is mainly due to the use of natural stones for flooring in residential and commercial areas due to the properties such as durability, beauty and increase in value of the platforms. In addition, the increasing preference for natural stone for flooring such as granite, slate, limestone and their properties such as resistance to allergenic organisms and the longevity and safety of the floors will further boost the growth of the natural stone market sub-segment during the forecast period.

The Asia-Pacific region is projected to grow at a remarkable CAGR of 5.4% over the analysis period. This is mainly due to the growing construction activity in this region, which is due to the rapid urbanization and industrialization as well as the use of natural stones in flooring, wall cladding, construction work, memorial art and much more in this region. In addition, it is expected that the presence of leading natural stone manufacturers will drive the regional growth of the market during the analysis period.

1. ARO Granite Industries Ltd.

2. Dimpomare

3. Dermitzakis Bros. SA

4. Levantina Asociados de Minerales, SA

5. Margraf Spa

6. Mumal Marbles Pvt. GmbH.

7. Polycor Inc.

8. Temmer marble

9. Ranamar

10. Xishi stone group.

These actors, by and large, work on developing new business strategies and tactics to achieve the leading positions in global industry.

In October 2019, Elliott Stone Company Inc., a leading company in the US building materials company, was taken over by Polycor, a renowned Canadian, American and French natural stone manufacturer. Elliott is well known for mining and manufacturing Indiana limestone. With this acquisition, the companies want to expand their product lines worldwide.

In addition, the report includes other important aspects such as the SWOT analysis, the project portfolio, the financial performance of the key players and the latest strategic developments. Click here for the executive summary of the absolute top business development strategies