Dimension Stone Mining Market Size, Share, and Industry Analysis By Type (Marble, Granite, Limestone, Sandstone, and Others (Slate, Dolomite)), By Application (Floor and Paving, Special Works, Memorial Art, Internal Wall Cladding, Structural Work, and Others), and Regional Forecast, 2024-2032

Dimensional stone/rock can be defined as natural rock material quarried to obtain blocks or slabs that conform to size (width, length, and thickness) and shape specifications. The stone's color, texture, pattern, and finish are standard requirements. Durability, strength, and the stone's ability to be polished are other properties of dimensional stone.

The trends in the natural stone market include improved and innovative technologies. Robots in the rock mining industry improve the efficiency and productivity of rock mines and reduce operating costs. Robotics is significantly increasing mining capabilities by introducing autonomous trucks and drills, reducing the need for human labor. Robots are used in critical mining activities such as drilling, detonating explosives, and guiding and driving off-highway transporters used in mines. Companies such as Atlas, Rio Tinto, Sandvik, Komatsu, and Caterpillar are using robotic rock-drilling rigs for the autonomous operation of their mines.

In just a few years, the global production of natural stone has grown rapidly, particularly for building projects, where architects are increasingly taking advantage of the wide variety of colors, textures, and finishes that natural stone can offer. As the use of stone increases, our ability to cut and process hard rock more efficiently has resulted in a tremendous increase in the types and colors of materials being brought to market.

• As per Invest India (National Investment Promotion & Facilitation Agency), cement production increased by 19.4% in June 2022 compared to June 2021. Its cumulative index increased by 17.1% from April to June 2022-23 over the corresponding period of the previous year. Furthermore, the real estate industry in India is expected to reach USD 1 trillion by 2030 and contribute 13% to India's GDP. These factors will likely fuel the demand for dimension stones in the real estate and construction sectors.

The hindering factor of the dimension stone market may include cracking, staining, or even complete failure. One of the primary causes of external panel failure is thermal hysteresis, where the sun heats the outer layer of stone to a greater degree than the backside. Over time, the stone bows lose their aesthetic appeal and pose a dangerous risk if the panels fall off. Once a stone panel is bowed, it cannot be restored, and replacement is the only option.

There was a negative impact on the dimension stone market due to the outbreak of COVID-19. Lockdown regulations and restrictions on domestic and international transportation and trade created significant supply chain barriers for stakeholders. Furthermore, several construction projects were delayed due to a labor shortage and growing economic uncertainty. The pandemic led to the postponement of investments or the start of new projects by about six months or a year. This is likely to have a short-term impact on the dimension stone market. Thus, a slowdown or disruption in various manufacturing and construction activities affected the market.

KEY INSIGHTS

The report includes the following key findings:

•  Recent Advancements in the Dimension Stone Mining Market

•  Key Industry Trends

•  Regulatory Landscape in the Dimension Stone Mining Market

•  Impact of COVID-19 on the market

SEGMENTATION

ANALYSIS BY TYPE

Based on type, the global dimension stone mining can be segmented into marble, granite, limestone, sandstone, and others. The marble segment is anticipated to expand significantly during the forecast period, as marble is extensively used as a building material in monuments and sculptures for structural and decorative purposes.

Furthermore, the sandstone segment is anticipated to witness the fastest-growing segment due to the demand for aggregates for building foundations, railroad beds, and highways. The granite segment is anticipated to grow during the forecast period as it has diverse applications and is known for its durability and strength, making it a popular choice for countertops, floors, and other applications requiring a durable surface. Its dense composition resists scratches, heat, and stains, making it an ideal material for kitchens and bathrooms. It resists scratches, stains, and heat and is ideal for high-traffic areas such as kitchens and bathrooms.

Limestone is an important natural resource. It is a versatile mineral used in many fields and in many ways, such as building and decorative stones, aggregates, lime burning, and other segments, including slate and dolomite. It bears properties such as being pressure- and impact-resistant and it is used in the manufacturing industry.

ANALYSIS BY APPLICATION

Based on application, the global dimension stone mining market is fragmented into floor and paving, special works, memorial art, internal wall cladding, and structural work. The floor paving segment is expected to hold a majority of the market share in the dimensional stone mining market. Floors and paving are the main uses of stone materials currently sold, accounting for more than 35% of the total. Floor refers to outdoor use, sometimes in partially walled areas. In contrast, flooring is generally used to describe its use in covered areas surrounded by walls. Structural use and memorial art applications equipment and decorative devices that require high strength, corrosion protection, and a wear-resistant surface can be realized. In addition, dimension stone is often used in sculpture and as a building material for modern and ancient monuments.

REGIONAL ANALYSIS

The global dimension of the stone mining market has been categorized into regions: North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa.

Asia Pacific is the dominant region in the market due to the growing construction sector and steady growth in recent years due to increased urbanization and soaring infrastructure spending. The increasing presence of foreign companies in the Asia Pacific region has also increased the construction of offices, buildings, manufacturing facilities, and others, fueling the growth of the region's construction sector.

Moreover, the North American dimension stone market is increasing rapidly with the increase in the construction industry in the U.S. and Canada. For context, approximately 2.3 million tons of dimension stone, valued at USD 430 million, were sold by U.S. producers in 2021. Furthermore, the demand for dimension stone is increasing due to the rising demand for Mesolithic and Neolithic monuments in Europe and the Middle East & Africa.

Classical Greek and Roman architecture feature high skill levels in dimension stone use. For context, the Romans discovered and exploited the world's only known source of purple porphyry rock for decorative columns for their Temple of Jupiter. This task consisted of breaking the stone into column-sized pieces in the mountains of the Red Sea in eastern Egypt and transporting them by land and sea to Rome. Elements of the Great Pyramid were also procured from great distances before being hewn to precise dimensions. At the same time, other examples of high-quality stone masonry can be found on all continents across the globe.

KEY PLAYERS COVERED

The report includes the profile of key players such as Vulcan Materials Company, Martin Marietta Aggregates Inc, Cemex S A B de C V, Carmeuse Lime & Stone Inc, Tarmac, Oldcastle Materials, Holcim, ADELAIDE BRIGHTON LTD, Rogers Group Inc, CRH, Graymont, United States Lime & Minerals, and Lhoist Group.

KEY INDUSTRY DEVELOPMENTS

• In November 2021, a USD 1.2 trillion infrastructure bill, the Infrastructure Investment and Jobs Act, was signed into law, including USD 110 billion for constructing and repairing bridges and roads, transportation research, and other projects. Additional funds had USD 17 billion and USD 25 billion for port and airport modernization and repairs anticipated to drive the demand for dimension stones.


• In January 2021, the U.S. remained one of the world's leading markets for dimension stones. In 2020, the total imports of dimension stone decreased by about 15% compared with the value 2019.