The global dark stone market was valued at $3.7 billion in 2022, and is projected to reach $5.8 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.
Natural dark stone is a mountain-acquired mineral, which Includes quartzite, slate, limestone, sandstone, marble, granite, and others. It majorly finds its application in residential and commercial flooring and wall cladding, owing to its durability, hardness, and aesthetic appearance. It finds applications in furniture, statuary, and monuments.
An expansion of the building industry, owing to a rise in investment in the housing sector, and Increased construction spending across various countries such as the U.S., Japan, India, and others, which fuels the growth of the global dark stone market. In addition, the rise in urbanization, and population growth, which is expected to rise in demand for dark stones for flooring, and wall cladding applications, boost the growth of the global market. Benefits associated with dark stones such as long durability, aesthetic presence, and reliability, in turn, boost the adoption of slate, and limestone in commercial and residential buildings, which drives the growth of the global dark stone market.
The Increase in disposable Income of individuals and the surge in awareness of attractive outdoor designs have shifted the Inclination toward home remodeling among residential end users, especially in urban areas.
Stones such as marble and granite used for flooring in patios, porches, backyards, and pavements enhance the visual appeal of residential buildings, thereby fueling their adoption. Moreover, an Increase in the number of engineering, procurement, and construction (EPC) projects in the infrastructure sector coupled with real estate and various urban infrastructure projects is expected to Increase the demand for dark stones at a global scale. Thus, the market is majorly driven by infrastructure construction activities, which Include building roads, bridges, airports, power plants, and notably highway & road projects. Furthermore, an Increase in industrialization and a rise in the need for residential & commercial infrastructure setup are expected to boost the global market.
In emerging economies, the Increase in popularity of outdoor entertainment areas has created the need for dark stones for wall cladding, which has positively influenced the market. In addition, the demand for construction materials such as marble is on the rise at a significant pace, owing to an Increase in its adoption for the construction of memorials and furniture. However, fluctuations in climate in recent years due to global warming and exploitation of resources have resulted in the implementation of stringent policies toward the utilization of natural resources and reduced emissions globally. Thus, government initiatives toward the reduction of stone mining restrict global market growth.
Growth in response to the rise in consumer demand for home renovation and replacement is one of the major factors boosting the global dark stone market growth. For instance, according to Harvard Joint Centre for Housing Studies article published in January 2021, the growth of house remodeling and repair expenditures is expected to Increase from 3.5% at the end of 2020 to 3.8% by the year-end of 2021, based on the most recent Leading Indicator of Remodeling Activity (LIRA). Similarly, officials at the National Association of Home Builders' IBSx virtual event in February 2021 predicted that remodeling expenditure on owner-occupied single-family homes is expected to witness a rise by 4% in 2021, then another 2% in 2022. Remodeling and renovation across the globe are factors that provide lucrative growth in the dark stone industry throughout the forecast period.
However, fluctuations in raw material prices and an Increase in the adoption of artificial stone are projected to hinder the growth of the global market in the coming years. Furthermore, an Increase in new construction activities, especially in emerging economies is anticipated to provide lucrative opportunities for the growth of the global dark stone market during the forecast period.
According to the dark stone market analysis, the market is segmented on the basis of type, application, end user, and region. By type, the market is segregated into marble, granite, limestone, and others. On the basis of application, it is segmented into flooring, memorial arts, wall cladding, and others. Depending on the end user, the dark stone market is categorized into residential and commercial. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and the rest of LAMEA).
The key players operating in the global dark stone market are constantly engaged in strategic developments such as partnerships, joint ventures, acquisitions, and mergers to exploit the prevailing dark stone market opportunities. Business expansion, acquisition, and collaboration have emerged as a key strategy among the market players to strengthen their position and achieve growth in the long term. The major players operating in the market Include 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, and Levantina Y Asociados de Minerales, S.A.
Natural dark stone is a mountain-acquired mineral, which Includes quartzite, slate, limestone, sandstone, marble, granite, and others. It majorly finds its application in residential and commercial flooring and wall cladding, owing to its durability, hardness, and aesthetic appearance. It finds applications in furniture, statuary, and monuments.
An expansion of the building industry, owing to a rise in investment in the housing sector, and Increased construction spending across various countries such as the U.S., Japan, India, and others, which fuels the growth of the global dark stone market. In addition, the rise in urbanization, and population growth, which is expected to rise in demand for dark stones for flooring, and wall cladding applications, boost the growth of the global market. Benefits associated with dark stones such as long durability, aesthetic presence, and reliability, in turn, boost the adoption of slate, and limestone in commercial and residential buildings, which drives the growth of the global dark stone market.
The Increase in disposable Income of individuals and the surge in awareness of attractive outdoor designs have shifted the Inclination toward home remodeling among residential end users, especially in urban areas.
Stones such as marble and granite used for flooring in patios, porches, backyards, and pavements enhance the visual appeal of residential buildings, thereby fueling their adoption. Moreover, an Increase in the number of engineering, procurement, and construction (EPC) projects in the infrastructure sector coupled with real estate and various urban infrastructure projects is expected to Increase the demand for dark stones at a global scale. Thus, the market is majorly driven by infrastructure construction activities, which Include building roads, bridges, airports, power plants, and notably highway & road projects. Furthermore, an Increase in industrialization and a rise in the need for residential & commercial infrastructure setup are expected to boost the global market.
In emerging economies, the Increase in popularity of outdoor entertainment areas has created the need for dark stones for wall cladding, which has positively influenced the market. In addition, the demand for construction materials such as marble is on the rise at a significant pace, owing to an Increase in its adoption for the construction of memorials and furniture. However, fluctuations in climate in recent years due to global warming and exploitation of resources have resulted in the implementation of stringent policies toward the utilization of natural resources and reduced emissions globally. Thus, government initiatives toward the reduction of stone mining restrict global market growth.
Growth in response to the rise in consumer demand for home renovation and replacement is one of the major factors boosting the global dark stone market growth. For instance, according to Harvard Joint Centre for Housing Studies article published in January 2021, the growth of house remodeling and repair expenditures is expected to Increase from 3.5% at the end of 2020 to 3.8% by the year-end of 2021, based on the most recent Leading Indicator of Remodeling Activity (LIRA). Similarly, officials at the National Association of Home Builders' IBSx virtual event in February 2021 predicted that remodeling expenditure on owner-occupied single-family homes is expected to witness a rise by 4% in 2021, then another 2% in 2022. Remodeling and renovation across the globe are factors that provide lucrative growth in the dark stone industry throughout the forecast period.
However, fluctuations in raw material prices and an Increase in the adoption of artificial stone are projected to hinder the growth of the global market in the coming years. Furthermore, an Increase in new construction activities, especially in emerging economies is anticipated to provide lucrative opportunities for the growth of the global dark stone market during the forecast period.
According to the dark stone market analysis, the market is segmented on the basis of type, application, end user, and region. By type, the market is segregated into marble, granite, limestone, and others. On the basis of application, it is segmented into flooring, memorial arts, wall cladding, and others. Depending on the end user, the dark stone market is categorized into residential and commercial. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and the rest of LAMEA).
The key players operating in the global dark stone market are constantly engaged in strategic developments such as partnerships, joint ventures, acquisitions, and mergers to exploit the prevailing dark stone market opportunities. Business expansion, acquisition, and collaboration have emerged as a key strategy among the market players to strengthen their position and achieve growth in the long term. The major players operating in the market Include 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, and Levantina Y Asociados de Minerales, S.A.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the dark stone market analysis from 2022 to 2032 to identify the prevailing dark stone market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the dark stone market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global dark stone market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Marble
- Granite
- Limestone
- Others
By Application
- Flooring
- Memorial Arts
- Wall Cladding
- Others
By End User
- Residential
- Commercial
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Antolini Luigi & C. S.p.a.
- Aravali India Marbles & Granites
- Aro Granite Industries Ltd
- Bhandari Marble Group
- Brachot-Hermant NV
- Coldspring
- Levantina Y Asociados de Minerales, S.A.
- Marble Trend
- Pokarna Limited
- Polycor Inc.
- Stone Group International
- Stone Source LLC
- Stoneville USA, Inc
- Tripura Stones Pvt. Ltd.
- UGM Surfaces
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DARK STONE MARKET, BY TYPE
CHAPTER 5: DARK STONE MARKET, BY APPLICATION
CHAPTER 6: DARK STONE MARKET, BY END USER
CHAPTER 7: DARK STONE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Dark Stone Market,' The dark stone market was valued at $3.7 billion in 2022, and is estimated to reach $5.8 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.Dark stone is referred to those natural stones such as granite, limestone, and marble that are black or dark in color. The precise type of rock or mineral determines the usage of dark stone. For instance, black granite is frequently used for countertops and other decorative uses, while basalt is frequently utilized in construction. Obsidian is a sort of dark stone that is used to create jewelry and other beautiful items.
Growing investments in the urbanization of rural areas are a major factor that is expected to drive the demand for the dark stone market during the forecast period. The dark stone market is significantly impacted by rising urbanization. There is an increase in infrastructure and construction projects as metropolitan areas grow and develop. Buildings, roads, bridges, and public spaces are created due to urbanization, all requiring building supplies. Dark stones are in high demand in urban construction projects because of their aesthetic appeal, toughness, and adaptability. They are employed in a variety of settings, including paving, wall cladding, worktops, and floors. The building industry's increased demand for dark stones is related to the trend of growing urbanization.
Urbanization frequently implies the construction of prestigious structures like opulent residences, hotels, retail centers, and corporate headquarters. Due to their associations with exclusivity, distinction, and refinement, dark stones are highly valued in these high-end applications. Dark stones are a favored option for developers and property owners looking to design distinguished urban environments because they add a touch of grandeur and sophistication. As a result of an increase in such high-profile projects brought on by urbanization, the demand for dark stones in the luxury market also increases. The growing urban population coupled with the rise in the number of commercial and residential real estate projects is expected to foster market growth during the forecast period.
The key players operating in the global dark stone market are engaging in various developmental strategies such as acquisition, collaboration, and geographical expansion for gaining a competitive edge and capturing market share. This strategic development by the market players is expected to impact the market growth positively and may create lucrative growth opportunities in the upcoming future. For instance, in April 2022, Stone Source LLC was acquired by Paramount Global Surfaces to strengthen its offering in the commercial flooring market. In May 2022, UGM Surfaces collaborated with Vadara Quartz to open LuxeHome at the Merchandise Mart in downtown Chicago, U.S. Further, in November 2021, Levantina Y Asociados de Minerales, S.A., through its brand Techlam, opened its second manufacturing plant, in the town of Nules to expand its production capacity. Therefore, the strategic developments adopted by the key market players are expected to boost market growth in the future.
According to the dark stone market analysis, the market is segmented on the basis of type, application, end user, and region. By type, the market is segregated into marble, granite, limestone, and others. On the basis of application, it is segmented into flooring, memorial arts, wall cladding, and others. Depending on the end user, the dark stone market is categorized into residential and commercial. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and the rest of LAMEA).
Business expansion, acquisition, and collaboration have emerged as a key strategy among the market players to strengthen their position and achieve growth in the long term. The major players operating in the market include 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, and 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.
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.
Companies Mentioned
- Antolini Luigi & C. S.p.a.
- Aravali India Marbles & Granites
- Aro Granite Industries Ltd
- Bhandari Marble Group
- Brachot-Hermant NV
- Coldspring
- Levantina Y Asociados de Minerales, S.A.
- Marble Trend
- Pokarna Limited
- Polycor Inc.
- Stone Group International
- Stone Source LLC
- Stoneville USA, Inc
- Tripura Stones Pvt. Ltd.
- UGM Surfaces
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 251 |
| Published | June 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 3.7 billion |
| Forecasted Market Value ( USD | $ 5.8 billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
