10 Feb
Market Synopsis
Natural stone market is gaining huge popularity as natural stones such as marble, granite, travertine, limestone, onyx, and sandstone find wide range of application across kitchen countertops, flooring, wall cladding, fireplaces, and others. Natural stones such as marble and granite have limitless design potential and exhibit high durability. The well-known and world-famous old buildings and monuments are built using natural stones namely Taj Mahal, Agra, The Great Pyramid, and The Coliseum.
However, the porous, soft, and brittle nature of natural stone is anticipated to restrain the market growth. For instance, some of the natural stones are porous and absorb stains more easily. Due to this, they must be sealed properly and resins must be used for longevity.
The versatile characteristics of natural stones such as timeless appeal and immense beauty are estimated to attract huge growth opportunities. Natural stone adds elegance and aesthetic to any space whether it is an architectural design or ornamental design structure such as statue. In addition, recent advancements in natural stone quarrying, extraction, and fabrication process such as sandblasting, 3D modeling, and detailed surface work have made natural stones easier to use and durable which is anticipated to boost the natural stone market share during the analysis timeframe.
According to regional analysis, the natural stone market in Asia-pacific region generated a revenue of $19,907.20 million in 2021 and is projected to reach up to $35,170.00 million by 2030.
Natural Stone Overview
Natural stones are produced by complex geological processes, and they are quarried & mined from earth. Natural stone is regarded as a premier building material because of its uniqueness as no two natural stones are exactly same, stable, and grandeur. Various natural stones such as granite, sandstone, marble, travertine, onyx, and limestone have limitless design potential and green attributes that promote sustainability. For instance, natural stone contributes towards LEED (Leadership in Energy and Environmental Design), which is widely adopted green building rating system. Some of the popular ancient monuments and incredible structures were built using natural stone like the Taj Mahal located in Agra, India, the Washington Monument located in Washington D.C, U.S., the Colosseum located in Rome, Italy, the Egyptian Pyramids Giza located in Egypt, and many others.
COVID-19 Impact on Natural Stone Market
The global crisis caused by COVID-19 pandemic has negatively affected the natural stone market and brought real challenges for its functioning. For instance, the quarry activities, processing facilities, logistics, and administrative offices in natural stone industry had to suspend their operations to contain the pandemic. The lockdown imposed across various countries forced the natural stone manufacturers to go into complete lockdown mode that led to economic crisis and laying off employees. The companies were unable to meet the demand from ongoing essential construction projects such as building of hospitals due to transport restrictions and reluctance of workers to work due to the fear of COVID-19 virus. The import-export of natural stone was negatively impacted that led to drastic decline in the demand from domestic and foreign market. All these factors have negatively impacted the natural stone market size during the pandemic.
Various government initiatives which notified that few industries including those related to construction sector can start their work with minimal staff, social distancing norms, and proper precautions have helped the natural stone manufacturers to start their business operations. Towards the end of 2020, many construction sites had resumed their normal operations that indirectly helped the natural stone manufacturers to pick up the pace. Various safety & hygiene protocols were introduced such as social distancing norms, regular health checkup of workers, and others that have helped natural stone manufacturers to balance the available minimal workforce and to meet the natural stone demand during the pandemic.
Wide Range of Applications of Natural Stone to Drive the Market Growth
Natural stone finds variety of applications in the interior spaces of your home such as kitchen, bathroom, living room, and others. For instance, granite, one of the hardest stones, is widely used in kitchen countertops which is known for its durability and heat resistance capacity. This natural stone is known for its elegance and unique pattern as no two granite slabs are alike and can meet the demands of busiest kitchen without any signs of wear. Marble is widely used for flooring, columns, steps, table, or countertop. Onyx, which is formed from limestone, is available in many colors and it is used for walls to enhance its translucent color. Quartzite is used as building blocks and slabs. Limestone formed from calcium carbonate is used in building construction of cornices, facades, and pillars. It is also used for floor tiles, fireplaces, wall tiles, staircases, and others.
Presence of Alternative Building Material Such as Ceramic Tiles to Restrain Market Growth
The use of alternative materials such as ceramic tiles is gaining popularity as glazed ceramic tile is ready to use and does not require any additional coating. Whereas the natural stone tiles are porous and can absorb stains due to which they must be sealed properly and resins must be used to close the pores. Ceramic tiles are man-made and available in various colors and patterns. In addition, ceramic tiles can be custom-made to resemble the look of natural stone which is estimated to restrain the natural stone market growth in the upcoming years.
Sharp Rise in Construction Activities Across the World to Generate Enormous Opportunities
The building & construction sector is experiencing significant growth in the recent years owing to rapid urbanization, development of smart cities, and mega projects. Natural stones such as marble, granite, and others are largely used in the residential and commercial sectors for infrastructure developments as well as for reconstruction & remodeling projects. For instance, marble, which is majorly quarried in China, India, Italy, and Spain represents beauty with its inherent warmth and it is a popular choice for floors, fireplace facings, countertops, walls, and windowsills. Owing to its appearance and ease of maintenance, it is widely used for table tops, wall claddings, floor, vanity tops, wainscot, and others. Similarly, soapstone, which is another natural stone, is softest material used for countertops as it is completely resistant to heat and stain. It shows high abrasion and scratch resistance due to which it is used for flooring.
Natural stone market is gaining huge popularity as natural stones such as marble, granite, travertine, limestone, onyx, and sandstone find wide range of application across kitchen countertops, flooring, wall cladding, fireplaces, and others. Natural stones such as marble and granite have limitless design potential and exhibit high durability. The well-known and world-famous old buildings and monuments are built using natural stones namely Taj Mahal, Agra, The Great Pyramid, and The Coliseum.
However, the porous, soft, and brittle nature of natural stone is anticipated to restrain the market growth. For instance, some of the natural stones are porous and absorb stains more easily. Due to this, they must be sealed properly and resins must be used for longevity.
The versatile characteristics of natural stones such as timeless appeal and immense beauty are estimated to attract huge growth opportunities. Natural stone adds elegance and aesthetic to any space whether it is an architectural design or ornamental design structure such as statue. In addition, recent advancements in natural stone quarrying, extraction, and fabrication process such as sandblasting, 3D modeling, and detailed surface work have made natural stones easier to use and durable which is anticipated to boost the natural stone market share during the analysis timeframe.
According to regional analysis, the natural stone market in Asia-pacific region generated a revenue of $19,907.20 million in 2021 and is projected to reach up to $35,170.00 million by 2030.
Natural Stone Overview
Natural stones are produced by complex geological processes, and they are quarried & mined from earth. Natural stone is regarded as a premier building material because of its uniqueness as no two natural stones are exactly same, stable, and grandeur. Various natural stones such as granite, sandstone, marble, travertine, onyx, and limestone have limitless design potential and green attributes that promote sustainability. For instance, natural stone contributes towards LEED (Leadership in Energy and Environmental Design), which is widely adopted green building rating system. Some of the popular ancient monuments and incredible structures were built using natural stone like the Taj Mahal located in Agra, India, the Washington Monument located in Washington D.C, U.S., the Colosseum located in Rome, Italy, the Egyptian Pyramids Giza located in Egypt, and many others.
COVID-19 Impact on Natural Stone Market
The global crisis caused by COVID-19 pandemic has negatively affected the natural stone market and brought real challenges for its functioning. For instance, the quarry activities, processing facilities, logistics, and administrative offices in natural stone industry had to suspend their operations to contain the pandemic. The lockdown imposed across various countries forced the natural stone manufacturers to go into complete lockdown mode that led to economic crisis and laying off employees. The companies were unable to meet the demand from ongoing essential construction projects such as building of hospitals due to transport restrictions and reluctance of workers to work due to the fear of COVID-19 virus. The import-export of natural stone was negatively impacted that led to drastic decline in the demand from domestic and foreign market. All these factors have negatively impacted the natural stone market size during the pandemic.
Various government initiatives which notified that few industries including those related to construction sector can start their work with minimal staff, social distancing norms, and proper precautions have helped the natural stone manufacturers to start their business operations. Towards the end of 2020, many construction sites had resumed their normal operations that indirectly helped the natural stone manufacturers to pick up the pace. Various safety & hygiene protocols were introduced such as social distancing norms, regular health checkup of workers, and others that have helped natural stone manufacturers to balance the available minimal workforce and to meet the natural stone demand during the pandemic.
Wide Range of Applications of Natural Stone to Drive the Market Growth
Natural stone finds variety of applications in the interior spaces of your home such as kitchen, bathroom, living room, and others. For instance, granite, one of the hardest stones, is widely used in kitchen countertops which is known for its durability and heat resistance capacity. This natural stone is known for its elegance and unique pattern as no two granite slabs are alike and can meet the demands of busiest kitchen without any signs of wear. Marble is widely used for flooring, columns, steps, table, or countertop. Onyx, which is formed from limestone, is available in many colors and it is used for walls to enhance its translucent color. Quartzite is used as building blocks and slabs. Limestone formed from calcium carbonate is used in building construction of cornices, facades, and pillars. It is also used for floor tiles, fireplaces, wall tiles, staircases, and others.
Presence of Alternative Building Material Such as Ceramic Tiles to Restrain Market Growth
The use of alternative materials such as ceramic tiles is gaining popularity as glazed ceramic tile is ready to use and does not require any additional coating. Whereas the natural stone tiles are porous and can absorb stains due to which they must be sealed properly and resins must be used to close the pores. Ceramic tiles are man-made and available in various colors and patterns. In addition, ceramic tiles can be custom-made to resemble the look of natural stone which is estimated to restrain the natural stone market growth in the upcoming years.
Sharp Rise in Construction Activities Across the World to Generate Enormous Opportunities
The building & construction sector is experiencing significant growth in the recent years owing to rapid urbanization, development of smart cities, and mega projects. Natural stones such as marble, granite, and others are largely used in the residential and commercial sectors for infrastructure developments as well as for reconstruction & remodeling projects. For instance, marble, which is majorly quarried in China, India, Italy, and Spain represents beauty with its inherent warmth and it is a popular choice for floors, fireplace facings, countertops, walls, and windowsills. Owing to its appearance and ease of maintenance, it is widely used for table tops, wall claddings, floor, vanity tops, wainscot, and others. Similarly, soapstone, which is another natural stone, is softest material used for countertops as it is completely resistant to heat and stain. It shows high abrasion and scratch resistance due to which it is used for flooring.
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