Global Construction Stone Market 2016-2020
Market outlook of the construction stone market
Technavio’s research analyst predicts the global construction stone market to grow steadily at a CAGR of close to 11% from 2016 to 2020. Increased infrastructure spending resulting in increased construction activities propels the growth of this market. Rapid urbanization in emerging countries such as China, India, Nigeria, and Indonesia has resulted in increased infrastructure spending in sectors such as water, power, and transportation.
There is a growing awareness about the advantages offered by natural stones such as non-toxicity over other construction materials in the market. This trend is expected to renew the emphasis on construction stones over other building materials in the next four years. Other building materials consume more energy and water and generate air emissions while natural stones are non-toxic and require no safety coating during construction. Hence, builders are predicted to shift their preference towards natural stones during this period, states this forecast.
Product segmentation and analysis of the construction stone market
- Construction aggregates
- Natural stones
Construction aggregate is a coarse particulate material used in construction activities. It includes sand, gravel, crushed stone, slag, recycled concrete, and geosynthetic aggregates. Natural stones are shaped and sized by natural forces like river, volcanoes, and tectonic folding. They are quarried and cut for commercial purposes.
Geographical segmentation and analysis of the construction stone market
- North America
APAC accounted for the largest share of the market during 2015 and is expected to grow at a CAGR of 16% during the forecast period. The rise in urban population is one of the primary drivers for the construction growth in this region.
Competitive landscape and key vendors
The global construction stone market is highly fragmented because of the presence of numerous small and large vendors. Vendors in the market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion. Vendors invest in designing, planning, developing, branding, expanding existing facilities, and acquiring new players in the market to increase their profit margins.
The leading vendors in the market are: -
- Benchmark Building Supplies
- Cosentino Group
- LSR Group
Other prominent vendors in the market include Dakota Granite, Dal-Tile, Duracite, Granite Canada Exports, Marazzi Group, Precision Countertops, RockSolid Granit USA, Silkar Mining Joint-stock, Sunrise Quartzite, US Stoneworks, and Vangura.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the construction stone market?
- What are the key market trends impacting the growth of the construction stone market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global construction stone market?
- What are the trending factors influencing the market shares of the APAC, Europe, North America, and ROW?
- What are the key outcomes of the five forces analysis of the construction stone market?
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