The global natural stone market was valued at $35,120.1 million in 2018 and is projected to reach $48,068.4 million by 2026

The global natural stone market was valued at $35,120.1 million in 2018, and is projected to reach $48,068.4 million by 2026, growing at a CAGR of 3.9% from 2019 to 2026. Natural stone refers to mountain-acquired substances.

It includes common stones such as sandstone, granite, travertine, limestone, marble, slate, and others. These natural stones are available in a wide range of colors and sizes with different physical and chemical properties. The natural stones is one of the essential building materials utilized for construction of dams, abutments, arches, walls, and other structures. As the name suggests, they are naturally available through mining and underground quarrying. They are primarily for monumental and institutional buildings. In addition, they are used as aggregates for concrete and rubble masonry works for canal walls and bridge piers.

Factors such as rise in consciousness toward exterior entertainment area and propensity to spend on home remodeling fuel the growth of the global natural stone market. In addition, rapid urbanization and surge in adoption of natural stones for indoor flooring drive the growth of the market. Moreover, rise in standard of living, particularly in developing countries, empowers re-flooring and other construction projects, which augments the demand for natural stones.

However, increase in emphasis toward utilization of green and eco-friendly materials hamper the market growth. Furthermore, developing economies in Asia-Pacific and LAMEA continue to offer lucrative growth opportunities for natural stone producers, due to surge in investments in residential construction activities in these regions.