PORTLAND, OR, UNITED STATES, October 7, 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.

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.

Key Market Players

Aro Granite Industries Ltd.
Dimpomar
Dermitzakis Bros S.A.
Levantina y Asociados de Minerales, S.A.
MARGRAF
Mumal Marble
Polycor Inc.
Temmer Marble
Topalidis
Xishi Stone Group

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Key Market Segments

By Type

Marble
Granite
Limestone
Others

By Application

Flooring
Memorial arts
Wall Cladding
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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David Correa
Allied Analytics LLP
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