In the near future, as the statistics show, the market for the stone industry and building materials is moving toward natural, green, and environmentally friendly materials.
The global natural stone market size was estimated at USD 33,375.3 .
In 2020 it was expected to reach USD 50,465.1 million and in 2030 it will grow at a CAGR of 4.0%.
Natural stone is minerals obtained in the mountains, including quartzite, slate, limestone, sandstone, marble, granite , etc.
It is mainly used in residential and commercial floors and walls due to its durability, hardness, and attractive appearance.
It can be used for furniture, statues, and monuments.
Global natural building stones growth is driven by increased investment in the housing sector, expansion of the construction industry, and increased construction spending in several countries, including the United States, Japan, India, and others.
In addition, increasing urbanization and population growth are expected to increase the demand for natural stone, flooring, and wall applications, driving the growth of the global market.
The advantages associated with natural stone, such as durability, aesthetics, and reliability, have in turn boosted the use of slate and limestone in commercial and residential construction, thereby accelerating the growth of the global natural stone market.
Natural stone market
Natural stone is one of the most sustainable, environmentally friendly and non-toxic building materials.
Therefore, it is theNatural stone industry statistics
The natural stoned tiles highly depends on the construction industry.
As the statistics show, home improvement and maintenance spending is expected to continue to grow strongly in the coming year, according to the Leading Indicators of Remodeling Activity (LIRA), released by Harvard University's Joint Center for Housing Research's Remodeling Futures Program.
LIRA expects annual improvement and repair spending to grow 9% year over year in the fourth quarter and maintain this pace through 2022.
"Home renovations continue to benefit from a strong housing market with increased construction and sales activity and significant price increases in the national market," said Carlos Martín, project director of the Center's Renovation Future Project.
"With this tailwind, homeowners could spend $400 billion in annual improvements and repairs by the third quarter of 2022," said Abbe Will, associate program director for Retrofit Futures.
"However, there are still headwinds that could dampen the expected increase in retrofit costs, including higher labor and construction material costs, as well as higher interest rates.
" A year after the pandemic brought unprecedented changes to the US economy, many economic indicators show extreme percentage changes from the lows triggered by the pandemic.
To reduce the large swings in the growth rate created by these year-over-year comparisons, the 2022-Q2 and -Q3 forecasts use smoothed data from three main model inputs: Residential Redevelopment Permits, Single-Family Home Starts, and Existing Single-Family Home Sales.
ston Using unsmoothed inputs in the LIRA model, the implausible annual growth rate is expected to be approximately two-thirds higher than reported.
The Remodeling Futures program will continue to monitor input volatility.
0
0