PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1519289
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1519289
The global stone flooring market size is projected to grow from USD 14.7 billion in 2024 to USD 19.9 billion by 2029, at a CAGR of 6.3% during the forecast period. The worldwide growth of the construction industry is one of the primary drivers for the market's growth prospects. The industry is expanding as a result of consumers' increasing need for contemporary, aesthetically pleasing interiors for both residential and commercial buildings. A growing trend is the use of stones, especially marble, to give opulent finishes to the flooring of a variety of structures, including offices, hotels, theaters, churches, and monuments. Another driver propelling expansion is customers' growing awareness of environmental issues.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million/USD Billion), Volume (Million Square Meters) |
Segments | Type, Application, and Region |
Regions covered | North America, Asia Pacific, Europe, Middle East & Africa, and South America |
By type, the granite segment to account for fastest growing segment during the forecast period
Granite offers durability, esthetic attractiveness, and versatility. Composed mainly of quartz, feldspar, and mica, this igneous rock is celebrated for its hardness and strength, rendering it highly resilient against scratches, stains, and wear. These qualities make granite exceptionally well-suited for demanding environments like commercial buildings, hotels, and residential spaces, where durability and ease of maintenance are essential considerations
By application, residential segment to account for the highest CAGR during the forecast period
Economic stability and growth play a pivotal role in driving residential construction activity, influencing preferences for premium building materials like natural stone flooring. During prosperous periods characterized by low interest rates and rising incomes, there is heightened consumer confidence and increased investment in upscale residential projects. This drives the demand for durable and esthetically appealing materials such as marble or granite. The changing demographics globally, including an aging population, and younger generations seeking sustainable and stylish living spaces, further propels the preference for natural stone options in residential construction.
By region, Asia Pacific stone flooring market is projected to grow at the highest CAGR during the forecast period
The economic expansion throughout the Asia Pacific region, particularly in emerging economies such as China and India, has heightened the demand for upscale construction materials, including natural stone flooring. Increased disposable incomes, urbanization, and investments in infrastructure have stimulated construction activities across diverse sectors, from residential developments to commercial centers and industrial zones. This economic growth fosters the preference for sophisticated and visually appealing flooring options like marble, granite, and others.
By Company: Tier1: 25%, Tier 2: 42%, Tier3: 33%
By Designation: C-Level: 20%, Director Level: 30%, Others: 50%
By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, South America: 10%, and Middle East & Africa: 20%.
Companies Covered: Mohawk Industries, Inc. (US), Shaw Industries Group, Inc. (US), Stone Flooring LLC (US), Polycor Inc. (US), and Emser Tile (US) and others are covered in the stone flooring market.
Research Coverage
The market study covers the stone flooring market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, application, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the stone flooring market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall stone flooring market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the stone flooring market