Stone Mining in Canada - Industry Market Research Report

Rock on: Improving nonresidential construction markets are expected to support industry growth

The Stone Mining industry in Canada demand is primarily driven by nonresidential construction markets and infrastructure development, although some high-quality products, such as marble and slate, have applications in residential buildings, so residential construction can also influence demand. Construction demand has been volatile in the last five years with the supply chain issues caused by the pandemic and the fluctuations with interest rates. Government investment in infrasctructue has keep demand relatively stable and will continue to do so moving forward. Stone Mining in Canada revenue has been decreasing at an annualized 2.2% over the past five years, including an estimated 0.6% decrease in 2023, and is expected to total $2.2 billion. In 2023, profit is set to decrease to 8.5%. Stone Mining in Canada revenue is expected to grow at an annualized 1.7% over the next five years, reaching an estimated $2.4 billion in 2028, when profit is projected to increase to 8.7%. The industry will likely benefit from improving nonresidential construction markets, as commodity prices are forecast to increase, prompting increased investment from businesses. Government expenditure is also expected to be crucial to this industry. In 2016, the current administration launched the Investing in Canada Plan, intending to invest $180.0 billion over 12 years in a variety of infrastructure projects, many of which will likely require industry products, such as the building or maintenance of roads and highways. The industry is also expected to benefit from favourable trade conditions, which enable countries to sell more products.

This industry comprises companies that develop mine sites; mine and quarry dimension stone (i.e. rough blocks or slabs of stone); mine and quarry crushed and broken stone, such as granite and limestone; or beneficiate stone by crushing, grinding, washing, screening, pulverizing and sizing.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.