Allied Market Research published a report, titled, “Dark Stone Marketย by Type (Marble, Granite, Limestone, Others), by Application (Flooring, Memorial Arts, Wall Cladding, Others), by End User (Residential, Commercial): Global Opportunity Analysis and Industry Forecast, 2023-2032.”According to the report, the globalย dark stoneย industry was estimated at $3.7 billion in 2022 and is anticipated to hit $5.8 billion by 2032, registering a CAGR of 4.8% from 2023 to 2032.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐๐ฉ๐จ๐ซ๐ญ:ย https://www.alliedmarketresearch.com/request-sample/75125
Drivers, restraints, and opportunities-
The global dark stone market is experiencing growth due to the factors such as a surge in the number of commercial and residential real estate projects across the globe, especially in developing economies . However, Availability of substitutes and Shortage of skilled labor restrain the market growth to some extent. Nevertheless, a rise in developmental strategies by market players is expected to provide ample opportunities in the upcoming years.
The granite segment to retain its dominance by 2031-
By type, the granite segment accounted for the highest share in 2022, garnering more than two-fifths of the global dark stone market revenue. The growing usage of dark granite in commercial buildings such as hotels, restaurants, workplaces, and public buildings are boosting the growth of the granite segment. On the other hand, limestone segment would cite the fastest CAGR of 5.9% by 2032. Design preferences and architectural trends influence the demand for dark limestone. Dark limestone’s adaptability makes it possible to use it in a variety of design aesthetics, from traditional to contemporary, which is boosting its demand across the globe.
The flooring segment to rule the roost-
By application, the flooring segment held the major share in 2022, generating more than one-third of the global dark stone market revenue. This is attributed to the huge demand for dark stone in flooring applications across commercial and residential real estate projects across the globe. The same segment would portray the fastest CAGR of 5.2% from 2023 to 2032. The aesthetic appeal, elegance, longevity, durability, easy maintenance, and versatility associated with dark stone are the major factors that have made it a popular choice for flooring.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (251 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ):ย https://www.alliedmarketresearch.com/checkout-final/c5a5411d3a8db77d21f94802b37487a1
The commercial segment to dominate by 2032-
By end-user, the commercial segment accounted for nearly thee-fifths of the global dark stone market revenue in 2022 and is projected to rule the roost by 2032. The growing number of infrastructural projects along with commercial real estate are the major drivers of the commercial segment in the global dark stone market. The residential segment, on the other hand, would portray the fastest CAGR of 5.0% from 2023 to 2032. This is attributed to the rising disposable income, growing urban population, and rising number of residential real estate projects across developing nations such as India, China, Indonesia, and Brazil.
Asia-Pacific garnered the major share in 2022 –
By region, Asia-Pacific generated more than half of the global dark stone market revenue in 2022 and is expected to dominate by 2032. The growth of the market across Asia-Pacific is driven by a significant rise in the investments towards industrialization and urbanization of rural areas of developing nations like India and China. LAMEA, however, would showcase the fastest CAGR of 6.7% from 2023 to 2032. The marker growth across LAMEA is driven by growing investments in the commercial and residential real estate sector. The Middle East countries witness massive investments in the development of infrastructural projects which make LAMEA the fastest-growing region in the dark stone market.
๐๐๐ง๐ญ ๐ญ๐จ ๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐ญ๐๐ญ๐ข๐ฌ๐ญ๐ข๐๐๐ฅ ๐๐๐ญ๐ ๐๐ง๐ ๐๐ซ๐๐ฉ๐ก๐ฌ, ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ’ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐๐ฌ:ย https://www.alliedmarketresearch.com/purchase-enquiry/75125
Key players in the industry-
Marble Trend
Polycor, Inc.
Brachot-Hermant NV
Coldspring
Stone Source, LLC.
Antolini Luigi and C. S.p.a.
Pokarna Limited
UGM Surfaces
Tripura Stones Pvt. Ltd.
Aravali India Marbles and Granites
Stoneville USA, Inc.
Aro Granite Industries Ltd.
Stone Group International
Bhandari Marble Group
Levantina Y Asociados de Minerales, S.A.
Key findings of the study
The dark stone market was valued at $3,652.2 million in 2022 and is estimated to reach $5,816.2 million by 2032, growing at a CAGR of 4.8% during the forecast period.
On the basis of type, the limestone segment is estimated to witness the fastest growth, registering a CAGR of 5.9% during the forecast period.
By application, the flooring segment dominated the market in 2022, accounting for 35.6% of the market share.
As per end user, the residential segment is estimated to witness the fastest growth, registering a CAGR of 5.0% during the forecast period.
According to region, the U.S. was the most prominent market in North America in 2022 and is projected to grow at a CAGR of 5.0% during the forecast period.
