Introduction
A stone slab is a large, smooth, and thin stone that is commonly used for paving floors, covering walls, and as headstones. Paving and roof construction are two of the most common uses for slabs as a construction material.
Natural stone slab are widely used due to its properties such as superior strength, functionality, and durability. This lead to increasing demand for the product in the construction of arches, walls, dams, abutments, and other structures is anticipated to promote market growth over the forecast period.
Despite the current pandemic situation, these product manufacturers are recovering their operations in full capacities from 2021 beginning. Along with this, the recovering construction activities across the globe are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6.Five Force analysis
7.Market Sizing
8.Market segmentation
9.Geographical Landscape
9.1 APAC
9.2 Europe
9.3 North America
9.4 ROW
10.Growth drivers
10.1 Rapid Urbanization as a result of increasing population
10.2 Increase in demand for natural stone in emerging economies
11.Key Market Trends
12.Impact of Covid-19
13.Challenges
14.Customer Insights analysis
15.Major Market Players
15.1 Aro Granite Industries
15.2 Levantina y Asociados de Minerales
15.3 MARGRAF
15.4 Dimpomar
15.5 Polycor
15.6 Temmer Marble
15.7 Mumal Marble
15.8 Dermitzakis Bros
15.9 Xishi Stone Group
15.10 Topalidis
16.Recent Developments
17.Future Scope
18.Strategic Recommendations
Market Overview
The global engineered stone market is expected to grow to $55.60 billion by 2025
Growth momentum is expected to accelerate during the forecast period with a 3.73% CAGR.
Increasing demand for green and eco-friendly construction materials promotes the demand for natural stone slabs during the forecast period.
APAC is dominating the market owing to infrastructure development and rapid urbanization.
Key Trends
Rising investments by government and private organizations in the infrastructure sector are anticipated to provide growth opportunities to the industry participants.
The rising number of renovation and redevelopment projects across the globe is expected to increase the market demand.
Key Market Players
Some of the key players in the market are Aro Granite Industries, Levantina y Asociados de Minerales, MARGRAF, Dimpomar, Polycor, Temmer Marble
The major players are adopting various strategies, such as partnerships and mergers & acquisitions, to strengthen their market position and have a competitive edge. Also, they have undertaken various marketing strategies to strengthen their market positions, such as providing installation and customization services and product portfolio expansion.
Growth Drivers and Challenges
Increasing investment in construction activities across the globe is the key driver of this market.
Rising demand for natural stone slabs due to their superior properties is driving the demand.
Strong industrial and economic development coupled with population expansion is likely to have a positive impact on the product demand.
Fluctuations in foreign currencies continue their influence over profit margins act as restraints for the industry growth.
An increase in emphasis toward utilization of green and eco-friendly materials is likely to hamper the market.