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This market research report includes a detailed segmentation of the global construction stone market by product type (construction aggregates and natural stones). It also outlines the market shares for key regions such as the APAC, Europe, North America and the rest of world (ROW). The key vendors analyzed in this report are AbleGroup, Benchmark Building Supplies, Caesarstone, Cosentino Group, and LSR Group.
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.
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.
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.
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: -
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.
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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