Dimension Stone Mining Market Characteristics
The dimension stone mining and quarrying market consists of sales of dimension stone by entities (organizations, sole traders and partnerships) that mine and quarry dimension stone such as rough blocks or slabs of stone. Dimension stone is a natural rock that is cut into various sizes for use in the construction and monument industries. Dimension stone products include blocks of rock such as marble, granite, limestone, sandstone and slate. Subsequent to cutting and polishing, these stones are used in the construction of buildings and monuments, and also as exterior and as interior decorative materials on buildings.
Competitive Landscape of the Dimension Stone Mining Market
Major players in the global dimension stone mining market include Vulcan Materials Company, Martin Marietta Aggregates Inc, Cemex S A B de C V, Carmeuse Lime & Stone Inc and Rogers Group Inc.
Dimension Stone Mining Market Size
The dimension stone mining market size is expected to reach a higher value by 2022, significantly growing at a steady CAGR during the forecast period. The growth in the dimension stone mining market is due to increasing demand in the construction and real estate industry.
However, the market for dimension stone mining is expected to face certain restraints from several factors such as interest rate increases, workforce issues and safety.
Dimension Stone Mining Market Segmentation
The global dimension stone mining market is further segmented based on type and geography.
By Type - The dimension stone mining market is segmented into marble, granite, limestone, sandstone and others.
By Geography - The global dimension stone mining is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific dimension stone mining market accounts the largest share in the global dimension stone mining market.
Trends in the Dimension Stone Mining Market
Remote surveying and geological mapping for mines and quarries is increasingly being done using LIDAR and UAV as it offers fast, accurate data to plan mining processes. LIDAR, which stands for light detection and ranging, is a remote sensing method that uses light in the form of a pulsed laser to measure ranges (variable distances), as the major trends witnessed in the global non-residential accommodation market.
Potential Opportunities in the Dimension Stone Mining Market
The sustainability of dimension stone in the building and construction projects increases the scope and potential for the global dimension stone mining market. It is expected to significantly rise in the forecast period.