Natural Stone Market Projected to Expand at a 3.9% CAGR BY 2026

Increase in rate of building renovation & remodeling, the growing popularity of the outdoor entertaining area among wall cladding end-users and surge in demand for natural stone in emerging economies drive the growth of the global natural stone market

According to the report, the global natural stone industry was estimated at $35.12 billion in 2018 and is expected to hit $48.06 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026.

The granite segment to lead the trail till 2026-

Based on type, the granite segment accounted for more than two-fifths of the global natural stone market share in 2018 and is expected to retain its dominance through 2019–2026. Granites are now widely used in making gravestones, sculptures, and memorials due to its hardness and appealing appearance, which has accelerated the growth of the segment.

Asia-Pacific, followed by Europe and North America, to dominate during the study period-

Based on geography, the Asia-Pacific region held the largest share in 2018, generating nearly half of the global natural stone market and is projected to maintain the lion’s share during 2019–2026. This is attributed to easy availability of raw materials & economies of scales.

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The flooring segment to maintain its top status during the estimated period-

Based on end user, the flooring segment contributed to nearly two-fifths of the global natural stone market revenue in 2018 and is anticipated to rule the roost during the estimated period. The features of natural stone such as durability, design flexibilities and easy installation drive the market growth