Stones Global Market Report 2024

The stones market size has grown strongly in recent years. It will grow from $12.72 billion in 2023 to $13.66 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historical period can be attributed to the expansion of the construction industry, urbanization, heightened infrastructure development, landscaping projects, and historical restoration efforts.

The stones market size is expected to see strong growth in the next few years. It will grow to $17.78 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth in the forecast period can be linked to initiatives promoting smart cities, the emphasis on energy efficiency in quarrying, the increasing prevalence of prefabricated construction, cultural and religious projects, and the adoption of circular economy practices. Notable trends expected during this period encompass the digital transformation in the stone industry, the promotion of sustainable quarrying and processing, innovations in stone finishes, the application of smart stone technologies, and the emergence of online stone marketplaces.

The stones market is expected to experience growth due to increasing construction activities. Construction activities encompass the processes involved in delivering buildings, infrastructure, industrial facilities, and associated activities throughout their lifespan. Stones play a crucial role in construction, serving as primary building materials for foundations, walls, and pavements, offering structural integrity and durability due to their natural strength and resistance to weathering. As an illustration, reports from Oxford Economics, a UK-based economic information services company, highlighted that global construction output reached $10.7 trillion in 2020 and is projected to increase by 42%, or $4.5 trillion, between 2020 and 2030, reaching USD 15.2 trillion. Consequently, the surge in construction activities is a driving force behind the growth of the stones market.

Precision Surface Excavation Machines are gaining popularity for their ability to reduce noise and pollution in sensitive areas. These versatile units use a slicing drum to mechanically unearth materials, providing advantages over traditional drilling and blasting methods. Surface excavation machines exhibit low levels of noise, dust, and vibration, allowing for more precise cutting and generating a smaller, consistent particle size, eliminating the need for a primary crusher. This is particularly valuable in environmentally sensitive mining areas where minimizing noise and dust pollution aligns with environmental regulations and standards.

Major companies in the stones market are strategically developing innovative products to gain a competitive edge. One such innovation is the introduction of electrically driven wheeled crushers. These machines, powered by electricity, are utilized to crush rocks and stones for various construction and mining purposes. For example, in March 2022, Sandvik AB, a Sweden-based engineering company, launched a new wheeled mobile crushing and screening range in North America. Distinguished by their all-electric drivetrain, Sandvik's wheeled crushers offer a sustainable rock processing solution. This electrically driven approach contributes to a low operational cost per ton, reduced CO2 emissions, and supports the creation of a more sustainable future.

Major companies operating in the stones market report are Berkshire Hathaway Inc., Christian Dior SE, Rajesh Exports Limited, Kering SA, Compagnie Financière Richemont SA, Temmer Marble, Tiffany & Co., Guanghui Group Co. Ltd., Quartzforms, Swatch Group Ltd., Pandora A/S, Cosentino S.A., Caesarstone Ltd., James Avery Craftsman Inc., Brenton S.p.A., Etgran Group, Polycor Inc., MARGRAF SpA, Xishi Group, Aurangzeb Marble Industry, Jinbo Construction Group Co. Ltd., ARO Granite Industries Ltd., Dimpomar - Granitos de Portugal S.A., Dermitzakis Bros S.A., Levantina Asociados de Minerales S.A., Mumal Marble Company, Johnson Marble & Quartz, Technistone a.s., Stone Italiana S.p.A., VICOSTONE.

Asia-Pacific was the largest region in the stones market in 2023. Western Europe was the second largest region in the stones market. The regions covered in the stones market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the stones market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The stones market consists of sales of rough blocks or slabs of stone and crushed and broken stone. It also comprises stone beneficiating activities such as crushing, grinding, washing, screening, pulverizing, and sizing. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. . The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The primary categories of stones are dimension stones and crushed stones. Dimension stones are naturally occurring rock materials extracted from quarries to manufacture blocks or slabs that adhere to specific size (width, length, and thickness) and shape requirements. The entities engaged in this industry encompass large enterprises, as well as small and medium enterprises. Service providers in this sector include both independent contractors and companies.

The stones market research report is one of a series of new reports that provides stones market statistics, including stones industry global market size, regional shares, competitors with a stones market share, detailed stones market segments, market trends, and opportunities, and any further data you may need to thrive in the stones industry. This stones market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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