[Latest insights] Dimension Stone Market is estimated to be US$ 21.2 billion by 2032; Development of New Technologies and Techniques to Fuel Market Growth-BY PMI
Prophecy Market Insights latest research report on the In Dimension Stone Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Sept. 15, 2023 (GLOBE NEWSWIRE) — How big is the Dimension Stone Market?
Dimension Stone Market accounted for US$ 13.4 billion in 2022 and is estimated to be US$ 21.2 billion by 2032 and is anticipated to register a CAGR of 4.4%.
Dimension stone refers to natural stone or rock that is extracted from quarries and cut into specific shapes and sizes for use in construction and architectural applications. Dimension stone is known for its durability, aesthetic appeal, and ability to withstand weathering, making it a popular choice for a wide range of building and landscaping projects.
Historic preservation projects often require dimension stone for restoring and maintaining heritage buildings and landmarks and this niche market contributes to demand. The global dimension stone market benefits from international trade, as different regions offer unique types of stone. Exporting and importing natural stone contributes to market expansion.
Key Highlights –
- In May 2022, The Natural Stone Institute (NSI) has launched the newest version of the Dimension Stone Design Manual. The association claims that commercial installers, fabricators, design experts, and suppliers to the building industry will be particularly interested in the 2022 edition. The installation chapters have undergone significant changes. For simplicity of access, the information is now divided into two chapters rather than three. Vertical and horizontal installations are now the main topics of chapters 13 and 14, respectively.
Analyst View –
Awareness of occupational health and safety in the stone industry leads to better working conditions and safety practices, benefiting both workers and the industry’s reputation. Overall, the dimension stone market is expected to continue growing as the construction and design industries embrace the aesthetic and functional qualities of natural stone. Sustainability considerations and technological innovations are likely shape the industry’s future, ensuring that dimension stone remains a valued building material.
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|Dimension Stone Market Value (2022)||US$13.4Bn|
|Dimension Stone Market Projected Value (2032)||US$21.2Bn|
|Dimension Stone Market CAGR (2022 – 2032)||4.4%|
- North America – U.S., Canada
- Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America – Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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Covid-19 and russia-ukraine war influence analysis:
Supply Chain Disruptions:
- COVID-19: The pandemic led to disruptions in global supply chains, affecting the dimension stone industry. Quarantine measures, lockdowns, and reduced workforce availability impacted mining, processing, and transportation of dimension stone.
- Russia-Ukraine War: Geopolitical tensions can lead to disruptions in supply chains if any part of the dimension stone production process relies on materials or processing in the conflict zone.
- COVID-19: The economic slowdown triggered by the pandemic affected construction projects, reducing demand for dimension stone in the short term. However, government stimulus packages and infrastructure projects may offset this.
- Russia-Ukraine War: Geopolitical instability can lead to economic uncertainty, affecting investments in construction and infrastructure. Sanctions imposed on Russia may also impact international trade, affecting the dimension stone market.
- COVID-19: Supply chain disruptions can lead to price volatility in the dimension stone market as demand fluctuates and availability varies.
- Russia-Ukraine War: Geopolitical tensions may result in price fluctuations if the conflict
Questions by Dimension Stone Market:
- Which category dominates the market as of now?
- What are the primary drivers behind the market’s growth?
- Who are the top players in the market?
- What are the risks and opportunities associated with market scope expansion?
- How might these trends impact the market’s scope and direction?
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