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Global Natural Stone Market to Garner $48.06 Billion by 2026: AMR

(MENAFN — GlobeNewsWire — Nasdaq) Portland, OR, March 24, 2021 (GLOBE NEWSWIRE) — As per the report published by Allied Market Research, the global natural stone market was accounted for $35.12 billion in 2018 and is projected to garner $48.06 billion by 2026, growing at a CAGR of 3.9% from 2019 to 2026.

Increase in the rate of building renovation & remodeling, urbanization due to population boom, surge in popularity of the outdoor entertaining area among wall cladding end-user have boosted the growth of the global natural stone market. Moreover, the rise in demand for natural stone in developing economies supplemented the market growth. However, surge in utilization of green and eco-friendly materials hampers the market growth. On the contrary, increase in government and private investments in the infrastructure industry would open lucrative opportunities for the market players in the future.Download Sample PDF (211 Pages with More Insight):

Covid-19 scenario:

  • The outbreak of Covid-19 resulted in lockdown across several countries and implementation of strict guidelines. This severely affected the construction sector as all new construction activities were postponed due to lack of workforce. This resulted in the demand for natural stone.
  • However, the demand is expected to rise post-lockdown as the construction activities get back on track.

The global natural stone market is segmented on the basis of type, application, and region. Based on type, the market is divided into marble, granite, limestone, and others. The marble segment is estimated to portray the highest CAGR of 4.7% during the forecast period. However, the granite segment held the lion’s share in 2018, contributing to more than two-fifths of the market.

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On the basis of application, the market is classified into flooring, memorial arts, wall cladding, and others. The wall cladding segment would showcase the highest CAGR of 4.5% during the forecast period. However, the flooring segment held the largest share in 2018, accounting for nearly two-fifths of the market.

The global natural stone market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America is projected to portray the highest CAGR of 4.2% during the forecast period. However, the market across Asia-Pacific held the largest share in 2018, contributing to nearly half of the market.Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ Leading Players:

The global natural stone market report includes a detailed analysis of the prime market players such as Dimpomar, Dermitzakis Bros S.A., Xishi Stone Group, Levantina y Asociados de Minerales, S.A., Aro Granite Industries Ltd., Mumal Marble, Polycor Inc., Temmer Marble, MARGRAF, and Topalidis.Avenue Library Subscription | Request for 14 days free trial of before buying:

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

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