Natural Stone Slab Market is Anticipated to Witness Strong Growth by 2027 | CAGR: 3.5%

The global natural stone slab market size is expected to reach USD 59.9 billion by 2027 registering a CAGR of 3.5%, according to a new report by Grand View Research, Inc. The rapid expansion of the construction industry is projected to boost the demand for natural stone slabs, thereby driving the market growth. Natural stone slabs add aesthetic beauty to the architectural constructions and help enhance the strength and durability of the structure, which boosts the overall demand. Moreover, the product offers resistance to slip, which is projected to further fuel the market growth. The architectural buildings and the construction processes are undergoing drastic changes.
Natural stone slabs help in achieving several textures and designs providing an aesthetic appeal to the floors and walls. The growing use of the product to beautify the architectural structures is likely to benefit the industry growth. Expansion of the residential construction across the developing economies, such as China, India, and South Korea, on account of the rising population, is projected to augment the product demand. In addition, rising investments in infrastructure development in the developed economies are projected to fuel market growth.
The U.S. natural stone slab market size

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Natural Stone Slab Market Report Highlights

  • Granite is estimated to be the fastest-growing product segment at a CAGR of 4.2% from 2020 to 2027 on account of rising demand in kitchen applications
  • The limestone product segment is estimated to expand at a steady CAGR over the forecast period due to high product demand in the flooring applications
  • The residential application segment accounted for the largest share of over 56% in 2019 and is projected to record the fastest CAGR from 2020 to 2027 owing to the increased product penetration in the construction industry
  • Asia Pacific is projected to be the largest as well as the fastest-growing regional market from 2020 to 2027 owing to the rapid expansion of the residential and commercial construction sectors in the emerging economies
  • China held the highest share of the APAC regional market on account of the expansion of the residential and non-residential sector in the country

Natural Stone Slab Market Segmentation

Grand View Research has segmented the global natural stone slab market on the basis of product, application, and region:
Natural Stone Slab Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
  • Granite
  • Limestone
  • Travertine
  • Others
Natural Stone Slab Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
  • Residential
  • Commercial
Natural Stone Slab Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • The U.K.
    • France
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
  • Central & South America
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
List of Key Players of Natural Stone Slab Market
  • Aro Granite Industries Ltd.
  • Levantina y Asociados de Minerales, S.A.
  • MARGRAF
  • Dimpomar
  • Polycor Inc.
  • Temmer Marble
  • Dermitzakis Bros S.A.
  • Mumal Marble
  • Xishi Stone Group
    • Topalidis
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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