According to the latest research report by Technavio, the global construction stone market is expected to grow at a CAGR of over to 8% until 2020.

In this report, Technavio covers the present scenario and growth prospects of the global construction stone market for 2016-2020. Our researchers have presented a breakdown market share for the leading regions, including APAC, Europe, North America, and ROW.

“According to the key findings of our market study, preference for natural stones over other materials is expected to emerge as a key trend for the global construction stone market until 2020. Natural stones are abundantly available in nature and require less energy during production,” said Soumya Mutsuddi, Technavio’s industry analyst for construction research.

“Other building materials consume more energy and water and generate air emissions, while natural stones have no toxic substance and do not require any safety coating during construction. Hence, builders in the market are predicted to show an increasing preference for natural stones over conventional building materials in the next four years,” added Soumya.

APAC: largest market for the global construction stone market

The construction aggregate market in APAC was valued at over USD 57 billion in 2015. Accurate proportion of aggregate is crucial during construction as it determines the strength of the concrete. Granite and marble in the form of crushed stones is mainly used as aggregate on construction sites in the region. China emerged as the leading country for this market in 2015 with close to USD 1,130 billion in revenue.

However, the market study also predicts the construction stone market in emerging countries in APAC, such as India, Indonesia, Malaysia, and Vietnam to post robust market growth over the next four years. Therefore, as the scope of investment in construction activities emerging from these countries is relatively high, the market presents a highly competitive vendor landscape in this region.

Construction stone market in Europe

Europe is one of the major exporters of stone, sand, and gravel with Italy, Germany, Spain, and Belgium featuring among the top 10 exporters in the world in 2014 for these items. Although, the development of new infrastructure is expected to be slow in Europe, the stone market in the region is expected to grow at a CAGR of over to 5% in the next four years. In 2015, Finland, Netherlands, Austria, France, Germany, and Portugal were ranked among the top 15 countries in this region. The focus in Europe is currently more on renovation and expansion of existing infrastructure, a trend that is likely to continue over the next four years.

Construction stone market in North America

Crushed limestone is the most commonly used rock in US, accounting for close to 70% of the construction stone market share. Crushed granite is used in road and railway construction in this region, whereas larger pieces of granite are used to stabilize the land around roadways, to minimize or eliminate soil erosion.

As with Europe, the focus in this region is more on revamping and reconstruction of existing infrastructure. However, construction activity is expected to rise in the future on account of the growing residential sector in the country. The US government is likely to invest significantly in the expansion of existing airports, thus boosting prospects for vendors in the construction stone market in the country.

Browse related reports:

  • Affordable Housing Market in BRIC 2016-2020
  • Global Construction Equipment Market 2016-2020
  • Global Siding Market 2016-2020

Purchase three reports from our library for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.