Limestone, granite, traprock, dolomite and quartz are the major rock types which are processed by the crushed stone industry. Natural stone processes, use a multi-stage crushing process for producing defined grain size from large lumps of rock. Stone processing has gained high importance in the market. Stone processing tools and adhesives are used on a large scale in the construction industry which has led to strong growth is reported for stone processing tools from the construction industry Growing population has led to high demand for construction activities worldwide. Hence, high demand is reported for stone processing tools and adhesives from the construction industry.
Diamond tools accounted for the major share around 35% of global stone processing market. The diamond tools are expected to be the fastest growing segment due to its advantageous properties. It is proved to be a better tool in stone cutting in comparison to other tools available in the market. The high grinding efficiency of diamond tools is the major factor driving its growth in the market. Other tools such as abrasives and carbide are also projected to boost market demand for stone processing market in the near future.
On the basis of adhesives, stone processing market is segmented into sealants, mastics and others among which sealants dominated the global stone processing market in 2016. Sealants are chemical elements which are used to make the surface airtight and watertight to avoid emission of solids, gases and liquids. Hence, these are used on a large scale for various applications in the end-user industries. Construction industry dominates the market in terms of demand of sealants. Other adhesives such as mastics are also anticipated to fuel demand for stone processing market during the forecast period from 2016 to 2023.
Stone processing market was valued at US$ 4.0 Bn in 2014 and is expected to reach US$ 10.3 Bn by 2023, growing at a CAGR of 8.6% during the forecast period 2016-2021.
Purpose of the Report
The purpose of this strategic research study titled “Global Stone Processing Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global stone processing market.
Target Audience
USP and Key Offerings
The report titled “Global Stone Processing Market - Growth, Share, Opportunities, and Competitive Analysis, 2015 – 2023” offers strategic insights into the global stone processing market along with the market size and estimates for the duration 2015 to 2023. The said research study covers in-depth analysis of multiple market segments based on tools, adhesives and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading stone processing vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global stone processing market, of growth, offering market size and estimates for the period from 2015 to 2023, keeping in mind the above mentioned factors.
Sealants accounted for the larger share of global stone processing market in 2016. It accounted for more than 40% share of the global market. Sealants are the blocking or sealing materials used to block the passage of fluids from the surface and opening of joints. Sealant can be permanent or temporary. Sealants in the construction industry are used on a large scale for blocking of sound and heat transmission. The market for sealant is expected to grow due to the rising demand from small manufacturers in the market. Mastics accounted as the fastest growing and second largest segment of stone processing market in 2016. Mastic is a paint resin which is used as adhesive to bond ceilings, walls, floor tiles and concrete among others. It accounted for more than 39% share of global stone processing market in 2016. Growing construction industry is the major factor driving the growth of mastics in the market. Rising demand for construction materials such as cement, stone, sand and woods have boosted market for adhesives in the market. High demand is reported for adhesives from the constructional industry worldwide. Hence, mastics are anticipated to grow in the near future. Other adhesives are also expected to fuel demand for stone processing market during the forecast period from 2016 to 2023.
Stone Processing Tools Segmentation Analysis
Stone processing tools market is segmented into segments which include abrasives, diamond, carbide and others. Diamonds dominated the global stone processing tools market in 2016.It is made by hot pressing of metal powder, diamond grit which is held in the powder matrix. Diamond being hard stone, high growth is expected in the application of stone processing tools in the market. Growing progress in the diamond manufacturing technology has led to rising demand for stone processing market. High application of diamonds in the industrial sector has also fueled growth of global stone processing tools market worldwide. Silicon carbide is a crystalline compound which is made up of carbon and silicon. It is a replacement for silicon based semi-conductors for the electronic industry. The properties of carbide such as low density, strength, high thermal conductivity, thermal shock resistance, hardness and low thermal expansion are driving the growth of carbide in the market. Another factor which promotes the use of carbide is its use in tough environments. Asia Pacific is the major consumer of silicon carbides followed by North America. Silicon carbide is expected to boost growth for stone processing market and will increase in the near future. Other tools are also projected to fuel demand for stone processing market during the forecast period from 2016 to 2023.
North America accounted for the largest share of global stone processing tools market in 2016. It accounted for more than 32% share of global stone processing tools market. Industries such as construction, sealants, diamond tools and abrasives are expected to generate high demand for stone processing tools in the market. North America is driven by rising stone processing market in the construction sector. U.S. is the major country driving the growth of construction industry in the region. Hence, North America is expected to boost market growth of stone processing tools worldwide. Europe followed North America in terms of demand for stone processing tools. It is the fastest growing market and second largest market for stone processing tools market. Europe is known to use natural stone since ancient times and the practice of using natural stone is carried forward till date. Therefore, strong demand is reported for stone processing tools from the construction industry in the region. Asia Pacific includes stone processing markets of India, China and Japan. Asia Pacific is also known as large stone trade region worldwide. Hence, Asia Pacific boosts market growth for stone processing tools in the market and is anticipated to increase in the near future. Others regions are projected to fuel market demand for stone processing tools during the forecast period from 2016 to 2023.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Stone Processing market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Stone
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Adhesives
| |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
