The global paving stone market is envisioned to garner $86.7 billion by 2031, growing from $40.3 billion in 2021 at a CAGR of 7.9% from 2022 to 2031.
Paving stones are utilized in both residential and non-residential construction due to their special qualities, high rigidity, superior surface quality, high resistance to extreme temperatures, and creep resistance in demanding higher & hazardous situations. There are numerous shapes for paving stones. During the forecast period, a greater emphasis on aesthetic is predicted to increase the use of paving stone. Paving stones are considered in the construction community as significant elements that contribute to enhancing the style or appearance of an existing landscape. Due to the rising demand for single-family homes and multi-family homes as well as the accessibility of financing, residential construction activities have been increasing over the past several years. A significant portion of the paving stone originates from non-residential construction projects including universities, shopping centers, and office buildings.
The high cost of paving stone is restricting the market growth. Construction costs for a paving stone driveway will most likely be substantial due to the high cost of the materials and lack of skilled labor. Additionally, it takes skilled craftsmen to create excellent designs with stone as well as the stone material.
There is an increase in the demand for paving materials from the construction industry due to population growth and rapid urbanization. Because of increased marketing by manufacturers, customers are becoming more aware of the advantages of using paving materials like asphalt, concrete, and brick. The paving stone market will benefit from rising investments in infrastructure development projects in growing economies all over the world. The market is anticipated to grow as a result of technological developments in the production of paving materials that offer improved performance, durability, and aesthetics.
COVID-19 had a negative impact on the paving stone market, including paving content and the various equipment utilized in paving stone production. The pandemic has impacted the economy very hard globally, as the lockdown was implemented in all regions, making the situation tough for all sectors for development. Because of the COVID-19 issue, no industry is impervious to the impact of the pandemic; all producers in the regions have experienced ups and downs.
The key players profiled in this report include Thomas Armstrong Group, Marshalls.co.uk, NGM Blocks , Pavestone UK Ltd., Anchor Block Company, ARO Granite Industries Ltd., Unilock, Mumal Marbles Pvt. Ltd., Arvicon International, and Wienerberger.
Paving stones are utilized in both residential and non-residential construction due to their special qualities, high rigidity, superior surface quality, high resistance to extreme temperatures, and creep resistance in demanding higher & hazardous situations. There are numerous shapes for paving stones. During the forecast period, a greater emphasis on aesthetic is predicted to increase the use of paving stone. Paving stones are considered in the construction community as significant elements that contribute to enhancing the style or appearance of an existing landscape. Due to the rising demand for single-family homes and multi-family homes as well as the accessibility of financing, residential construction activities have been increasing over the past several years. A significant portion of the paving stone originates from non-residential construction projects including universities, shopping centers, and office buildings.
The high cost of paving stone is restricting the market growth. Construction costs for a paving stone driveway will most likely be substantial due to the high cost of the materials and lack of skilled labor. Additionally, it takes skilled craftsmen to create excellent designs with stone as well as the stone material.
There is an increase in the demand for paving materials from the construction industry due to population growth and rapid urbanization. Because of increased marketing by manufacturers, customers are becoming more aware of the advantages of using paving materials like asphalt, concrete, and brick. The paving stone market will benefit from rising investments in infrastructure development projects in growing economies all over the world. The market is anticipated to grow as a result of technological developments in the production of paving materials that offer improved performance, durability, and aesthetics.
COVID-19 had a negative impact on the paving stone market, including paving content and the various equipment utilized in paving stone production. The pandemic has impacted the economy very hard globally, as the lockdown was implemented in all regions, making the situation tough for all sectors for development. Because of the COVID-19 issue, no industry is impervious to the impact of the pandemic; all producers in the regions have experienced ups and downs.
The key players profiled in this report include Thomas Armstrong Group, Marshalls.co.uk, NGM Blocks , Pavestone UK Ltd., Anchor Block Company, ARO Granite Industries Ltd., Unilock, Mumal Marbles Pvt. Ltd., Arvicon International, and Wienerberger.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the paving stone market analysis from 2021 to 2031 to identify the prevailing paving 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 paving 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 paving stone market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Driveway
- Walkway
- Patio
- Pool Decks
- Garden
- Others
By Paving Material
- Concrete Pavers
- Natural Stone Pavers
- Natural Stone Pavers
- Granite
- Marble
- Limestone
- Slate
- Sandstone
- Others
- Clay Brick Pavers
By End-use
- Residential Construction
- Commercial Construction
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Thomas Armstrong Group
- Marshalls.co.uk
- NGM Blocks
- Pavestone UK Ltd
- Masonary Products, LLC
- ARO Granite Industries Ltd.
- Unilock
- Polycor Inc.
- Dimpomar
- Mumal Marbles Pvt. Ltd.
- Marshalls plc
- Arvicon International
- Aro granite industries ltd.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PAVING STONE MARKET, BY PAVING MATERIAL
CHAPTER 5: PAVING STONE MARKET, BY APPLICATION
CHAPTER 6: PAVING STONE MARKET, BY END-USE
CHAPTER 7: PAVING STONE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Paving Stone Market," the paving stone market was valued at $40.3 billion in 2021, and is estimated to reach $86.7 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031.Paving stones are commonly used to build walkways, driveway surfaces, and patios. Pavers are available in a variety of shapes, such as squares, rectangles, and diamonds, to name a few. Paving stones are constructed stones that are typically available in standard sizes, making them easier to install. Pavers can be used both inside and outside of the home, as well as around patios.
The rising infrastructure and facility development globally are one of the major factors responsible for rising penetration of paving stones market. Paving stones are available in many textures, colors, materials, and sizes as per customer requirement and needs. The wide array of product range is proving to be advantageous behind rising sales of the paving stones further supplementing market growth.
Furthermore, prominent players are proactively focusing on introducing environmentally friendly stones that have low carbon emission. This new innovative technology of stones is gaining traction owing to favorable government policies to increase usage of such stones followed by rising trend of consumers toward environment sustainability together fueling the global paving stone market size. For instance, in September 2022, FCN introduced a new range of low carbon paving stones using Betolar’s Geoprime solution in Galabau in Germany. This new type of low carbon paving stone significantly reduced CO2 footprint.
Apart from this, key factors driving the growth of the market includes massive investments by governmental authorities to develop smart cities, green buildings, and sustainable infrastructure driving the market growth.
However, outbreak of COVID-19 pandemic dramatically hampered the entire construction sector slowing down the global paving stones market. Nationwide lockdown, unavailability/lack of sufficient accommodation, and stringent travel restrictions to prevent countries from the spread of virus has limited the market growth at a certain extent. Apart from this, lack of availability of skilled and unskilled professionals at construction sites delayed/cancelled the construction projects hampering the paving stones market.
Moreover, lack of raw materials availability, volatility in currency exchange rates, and imbalances in import export trade activities resulted in rising prices of paving stones that has significantly slowed down the market during the COVID times. However, there was a significant growth observed post COVID as construction projects resumed to its peak and demand for such stones paced up owing to which the market observed a stability in 2021.
Moreover, rising construction industry globally is creating lucrative business opportunities for small and medium scale players to cater the unattended regional and local market and push their products to the same further contributing to the market growth.
The paving stone market is segmented into paving material, natural stone pavers, application, end-use, and region. According to paving materials, the market is classified into concrete pavers, natural stone pavers, and clay bricks pavers. As per natural stone pavers, it is divided into granite, marble, limestone, slate, sandstone, and others. Depending on application, it is classified into driveway, walkway, patio, pool decks, garden, and others. On the basis of end-use, the market is segmented into residential construction and commercial construction. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, United Arab Emirates, South Africa, and rest of LAMEA).
The key players profiled in the study include Thomas Armstrong Group, Marshalls.co.uk, NGM Blocks, Pavestone UK Ltd., Anchor Block Company, ARO Granite Industries Ltd., Unilock, Mumal Marbles Pvt. Ltd., Arvicon International, and Wienerberger. The key players in the market have been actively engaged in the adoption of various strategies such as acquisition, product launches, and expansion to remain competitive and gain an advantage over the competitors in the market. For instance, in March 2022, Oldcastle APG announced its acquisition of Calstone, a leading manufacturer of pavers to offer complete outdoor living solutions to customers across the country. This strategic move will strengthen APG's ability to meet the growing demand for sustainable building products.
Key Market Insights
- Based on paving material, the concrete pavers sub-segment held a dominant position in 2021 and natural stone pavers sub-segment is anticipated to be the fastest growing during the forecast period.
- Based on application, the walkaway sub-segment emerged as the global leader in 2021 and the driveaway sub-segment is predicted to witness the fastest growth in the upcoming years.
- Based on end-use, the commercial sub-segment held dominance in 2021 and residential sub-segment is expected to grow significantly in the coming years.
- Based on region, Asia-Pacific accounted for the dominant market share in 2021 and is projected to account for a significant growth rate during the forecast period.
Companies Mentioned
- Thomas Armstrong Group
- Marshalls.co.uk
- NGM Blocks
- Pavestone UK Ltd
- Masonary Products, LLC
- ARO Granite Industries Ltd.
- Unilock
- Polycor Inc.
- Dimpomar
- Mumal Marbles Pvt. Ltd.
- Marshalls plc
- Arvicon International
- Aro granite industries ltd.
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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About the Paving Stone Market
Paving Stone is a type of stone used for paving roads, driveways, patios, and other outdoor surfaces. It is typically made from granite, limestone, sandstone, or slate, and is available in a variety of shapes, sizes, and colors. Paving Stone is often used to create a decorative and durable surface that is resistant to weathering and wear. Paving Stone is a popular choice for outdoor surfaces due to its durability and aesthetic appeal. It is often used in residential and commercial applications, Read more
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