Global Natural Stone Slab Market by Application (Residential, Commercial), by Product (Granite, Travertine, Limestone) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

The global natural stone slab market was valued at USD 45.4 million in 2019. It is projected to grow at a compound annual rate (CAGR of 3.5%) between 2020 and 2027. Market growth is expected to be aided by the expansion of residential and commercial construction, as well as the increased restructuring activity around the world. Market growth is expected to be supported by an increase in demand for the product during the forecast period. Natural stone slabs have the potential to increase industry growth due to their superior strength, high functionality and durability. Due to the rapid growth of commercial and residential applications, the U.S. market is expected to experience high growth. In the next few years, the market will see a rise in renovation and redevelopment projects throughout the country.

Natural stone slabs are in high demand due to the growing demand for eco-friendly and green construction materials. Moreover, the market will be driven by rising investments from government and private companies in the infrastructure sector.

Underground extraction and mining are the only ways to obtain this product. It is used extensively in the construction and maintenance of monuments and institutional buildings. The natural stone slab market is expected to grow due to rapid urbanization and the adoption of natural stones slabs for indoor as well as outdoor floorings.

The product demand is expected to rise further due to rising living standards and shifting consumer preferences for unique patterns that enhance the beauty of floors and walls. The industry is expected to grow due to the increasing use of slip resistant flooring for outdoor spaces.

Product Insights

In 2019, the market's top product segment was the others, accounting for 42% of global revenue share. Granite is expected to see the highest CAGR between 2020 and 2027. Granite slabs can be used for countertops, tile floors and stair treads. Crushed granite stones can be found in many colors and used in landscape stones as well as in planters. This will likely benefit the segment's growth.

Granite is used to build monuments, fireplace mantles, floors, and other structures. Granite is also used in bathroom shelves, tabletops and basins due to its strength and resistance against slipping. This will increase product demand during the forecast period. The product is also resistant to chemicals and stains and requires minimal repair and maintenance. This helps drive product demand.

Travertine can be used in offices as it enhances the structure's aesthetics. Travertine is also used as a bathroom vanity top, shower cladding and tub surrounds. It is also used in flooring, kitchens.

Application Insights

Residential applications dominated the market, accounting for over 56% of global revenue share in 2019. Due to the high product usage, it is expected to grow at a faster CAGR of 5% between 2020 and 2027. The segment's growth will be supported by the rising demand for strong, durable, visually appealing structures.

The industry is expected to grow over the forecasted time due to increased use of polished granite slabs for residential purposes. The segment growth will also be aided by the expected expansion of the residential sector due to the increasing population.

It is used to create stronger, more durable and visually appealing structures in commercial construction. This segment is expected to see a rise in demand due to the increasing number of commercial construction projects such as offices and malls around the world.

Natural stone slabs are durable, long-lasting, weatherproof, chipping, cracking, and peeling resistant. The product is also used in paving, landscaping and roofing. This increases its popularity in the commercial application sector.

Regional Insights

Asia Pacific was the dominant market, accounting for more than 36% of global revenue share in 2019. It is expected to continue its dominance and will record the fastest growth rate in the future. This is due to rapid growth in the residential and nonresidential construction sector, especially in developing economies like South Korea, India, Indonesia and China.

Additionally, these countries have a higher spending power, which will drive construction and support industry growth. The industry is expected to grow due to increased awareness of the benefits of natural stone slabs such as their superior strength, longevity, wear resistance and slip resistance.

The industry is expected to grow due to increased up-gradation of existing infrastructures in developed countries like the U.S. and U.K. As well as other factors such as the increasing number of rehabilitation activities and the increased availability of new technology. The industry will benefit from the rising average age of houses, which is expected to increase the demand for renovations.

Market Share Insights & Key Companies

To strengthen their market position, major companies are turning to partnerships and M&A. To gain a greater market share and competitive edge, companies are expanding their geographical presence. Polycor Inc. purchased Elliott Stone Company Inc. in October 2019. This acquisition is expected to help the former company expand its customer base and geographic presence. The following are some of the most prominent players in natural stone slab markets:

• Aro Granite Industries Ltd.

• Levantina y Asociados de Minerales, S.A.

• MARGRAF

• Dimpomar

• Polycor Inc.

• Temmer Marble

• Dermitzakis Bros S.A.

• Mumal Marble

• Xishi Stone Group

• Topalidis

Up Market Research published a new report titled “Natural Stone Slab Market research report which is segmented by Application (Residential, Commercial), by Product (Granite, Travertine, Limestone), By Players/Companies MARGRAF, Temmer Marble, Xishi Stone Group, Topalidis, Mumal Marble, Dimpomar, Aro Granite Industries Ltd, Polycor Inc, Levantina y Asociados de Minerales SA, Dermitzakis Bros SA”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Natural Stone Slab Market Report Segments:

The market is segmented by Application (Residential, Commercial), by Product (Granite, Travertine, Limestone).

Natural Stone Slab Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Natural Stone Slab Market

Overview of the regional outlook of the Natural Stone Slab Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Natural Stone Slab Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Natural Stone Slab Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Residential

                2. Commercial

                1. Granite

                2. Travertine

                3. Limestone

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Natural Stone Slab Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Natural Stone Slab Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.