What is the Historic and Current Scenario of the Stones Market?
The stones market has seen considerable growth due to a variety of factors.
• The market size for stones has notably expanded in the previous years. It's projected to extend from $13.38 billion in 2024 to $14.34 billion in 2025, resulting in a compound annual growth rate (CAGR) of 7.2%.
Factors driving the growth during the historic period can be linked to the rise in construction industry, urbanization, escalated infrastructure development, landscaping projects, and historical restoration.
What is the Forecasted Market Size and CAGR for the Stones Market?
The stones market is expected to maintain its strong growth trajectory in upcoming years.
• The market for stones is predicted to experience a robust increase in the coming years, with an expected value of $18.63 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.8%.
Factors such as initiatives for smart cities, energy-effective quarrying procedures, the emerging trend of prefabricated construction, cultural and religious projects, and circular economy practices are all significant contributors to this anticipated growth. Furthermore, the forecast period is set to see major trends like the digital overhaul of the stone industry, sustainable quarrying and processing techniques, novel stone finishes, intelligent stone applications, and the rise of online stone marketplaces.
What Are the Critical Driver Fuelling the Stones Market's Growth?
The rise in construction activities is forecasted to accelerate the expansion of the stones market. These activities encompass the procedures involved in delivering buildings, infrastructure, industrial facilities, and other associated operations to their lifespan's end. Stones constitute pivotal building elements for structures' foundations, walls, and pavements, offering structural robustness and durability owing to their inherent strength and resistance to weathering. For instance, the Office for National Statistics, a UK-based statistical agency, reported in February 2024 that the total annual construction output saw an upward trend of 2.0% in 2023 in contrast to 2022. This represented the third consecutive year of growth. Consequently, the upward trajectory of construction activities is stimulating the expansion of the stones market.
What Are The Principal Market Segments In The Global Stones Healthcare Industry?
The stones market covered in this report is segmented –
1) By Type: Dimension Stones, Crushed Stones
2) By Organization Size: Large Enterprises, Small And Medium Enterprises
3) By Service Provider Type: Independent Contractors, Companies
Subsegments:
1) By Dimension Stones: Granite, Marble, Limestone, Sandstone, Slate
2) By Crushed Stones: Crushed Granite, Crushed Limestone, Crushed Basalt, Crushed Gravel, Recycled Crushed Stone
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Which Emerging Market Trends Are Altering The Stones
Major firms in the stones market, including Sandvik AB, are innovating their offerings with breakthrough products like electrically-driven wheeled crushers. These are electric-powered machines designed to break down rocks and stones, predominantly used in construction and mining operations. For example, Sandvik AB, an engineering venture based in Sweden, introduced a cutting-edge range of mobile crushing and screening equipment to the North American market in March 2022. These products operate purely on electricity, making it a sustainable alternative for rock processing. The Sandvik wheeled series reduces CO2 emissions and lowers operational costs per ton, signifying a shift towards a more environmentally-friendly future.
Who Are the Key Players in the Stones Market?
Major companies operating in the stones market include:
• Martin Marietta Materials
• Vulcan Materials Company
• LafargeHolcim Ltd.
• CEMEX S.A.B. de C.V.
• CRH plc
• HeidelbergCement AG
• Rogers Group Inc.
• Luck Stone Corporation
• Carmeuse Group S.A.
• Granite Construction Inc.
• Sibelco
• Quarries Direct International LLC
• Polycor Inc.
• Levantina y Asociados de Minerales S.A.
• Eurovia
• Omya AG
• Boral Limited
• Stone World Canada
• Arizona Tile
• Benchmark Building Supplies Ltd.
• Swenson Granite Works
• Bedrock Natural Stone
• Stone Source LLC
• Stone Center of Indiana
• Indiana Limestone Company
• Tarmac Building Products
• Braen Stone
• Kafka Granite LLC
• Salado Quarry
• United States Lime & Minerals Inc.
What are the Regional Insights into the Stones Market?
Asia-Pacific was the largest region in the stones market in 2024. Western Europe was the second largest region in the stones market. The regions covered in the stones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
