U.S. Natural Stone & Marble Market Size, Share & COVID-19 Impact Analysis, By Type (Granite, Limestone, Marble, Sandstone, Slate, and Others), By Application (Building & Construction, Monumental, and Specialty), and Regional Forecast, 2023-2030

The U.S. natural stone & marble market size was worth USD 5.83 billion in 2022 and is projected to grow at a CAGR of 3.9% during the forecast period.

The U.S. natural stone & marble market growth is primarily owed to the increasing consumption of natural stones and marbles for aesthetic and architectural applications. The growing investments and initiatives of the U.S. government to support green buildings and sustainable architecture are driving the market growth. The versatility of natural stone that suits internal and external designs, its sturdy and durable nature, and its aesthetic beauty are some factors influencing growth in demand.

The U.S. natural stone industry experienced slowdown during the pandemic owing to the restrictions imposed by the government. The U.S. announced lockdowns, which restricted the infrastructure development activities by limiting the supply of construction materials. Similarly, restrictions on transportation also created a hurdle to the construction and renovation activities.

LATEST TRENDS

Increasing Use of Natural Stone & Marble for Commercial Infrastructures 

The use of these stones & marbles in commercial applications is increasing owing to its versatility, decorative and functional properties. Natural stones are being used in various projects besides countertops. They are used in entryways, flooring, and statement pieces that enhance the commercial space's visual appeal, further boosting the demand for natural stone & marble in the U.S.

For instance, Natural Stones Projects is a service for architects and designers to fabricate and supply natural stone for high-end residential and commercial applications. Natural Stone Projects was selected to supply four types of stones to Mulberry’s novel design idea for their global stores. This project used natural stones such as Cornish Slate, English Ironstone, Honed Finish and Mahogany Stone, and Printemps Green Marble.

DRIVING FACTORS

Rising Demand for Sustainable Construction Materials to Boost Market Growth

In recent years, there has been significant demand for sustainable materials across all sectors, including construction. Sustainable infrastructure design focuses on increasing the efficiency of resources, including water, energy, and other materials, while limiting its effect on human health and the environment during the structure’s life cycle.

Natural stone & marble are extremely strong and durable, making them a sustainable choice. Due to its eco-friendly and sustainable nature, residential and commercial buildings employ natural stone in various application areas, including flooring, interior design, and countertops. Natural stone recycles the heat from the sun and helps reduce energy costs. Moreover, it also helps manage the allergens and pollutants in the air and does not contain harmful chemicals or toxins. This is expected to drive the U.S. market growth in the coming years.

RESTRAINING FACTORS

Introduction of Artificial Stones to Hinder Market Growth

Artificial concrete blocks and ceramic tiles are alternatives to natural stone. These building materials are relatively cost-effective, which makes them the obvious choice for consumers, thus affecting the growth of the market. Moreover, natural stone is susceptible to water damage.

Ceramic tiles are available in various colors, shades, textures, and glazing. This enables customers to customize the interior and experiment with designs, whereas natural stones are available in limited colors and textures. This is expected to limit the growth of the U.S. market.

SEGMENTATION

By Type Analysis

Based on type, the market is segmented into granite, limestone, marble, sandstone, slate, and others.

The limestone segment accounted for a significant U.S. natural stone & marble market share in 2022 and will likely maintain its dominance during the forecast period. Limestones are good heat conductors and facilitate the interior of the building to remain cool. These stones are cost-effective and environment-friendly, making them a prime choice for architecture and construction.

The marble segment is expected to grow at the fastest CAGR during the forecast period. Marble is majorly used in regions with high temperatures. It can act as a natural air conditioning system and remains cool at higher temperatures. It also provides benefits such as protection from weather erosion, water leaks, and chemical corrosion.

By Application Analysis

Based on application, the market is segmented into building & construction, monumental, and specialty.

The building & construction segment is expected to dominate the U.S. market share during the forecast period. Growing commercial and residential construction across the U.S. is a major factor supporting segmental growth. According to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, residential remodeling in the major metro cities of the U.S. grew rapidly in 2022. This growth was associated with surging home prices, increasing sales of residential spaces, and high earnings. In the monumental segment, natural stones and marble are mainly employed in constructing monuments, statues, and other artifacts due to low maintenance and minimal upkeep.

KEY INDUSTRY PLAYERS

In terms of the competitive landscape, the market depicts the presence of established and emerging companies. The key players include Southland Stone USA, Inc., USA Marble LLC, Natural Stones USA, and A&GMarble. Industry players compete mainly based on product prices and application characteristics. In addition, companies are emphasizing product innovation, social marketing, acquisition, and collaborations.

LIST OF KEY COMPANIES PROFILED:

• Southland Stone USA, Inc. (U.S.)


• Superior Granite and Marble (U.S.)


• USA Marble LLC (U.S.)


• A&G Marble Inc (U.S.)


• Levantina y Asociados de Minerales, S.A (Spain)


• Natural Stones USA (U.S.)


• Polycor Inc. (Canada)

KEY INDUSTRY DEVELOPMENTS: 

• October 2019– Polycor Inc. continues to show strong growth with the acquisition of one of the leading quarries and fabricators of Indiana limestone, Elliott Stone Company Inc. The acquisition is expected to expand Polycor's product portfolio of natural stone building products for the hardscapes and masonry sector.

REPORT COVERAGE

The market research report examines key factors such as companies, products, and applications. It also covers market trends and highlights noteworthy industry advancements. The study provides different variables that have contributed to the market growth in recent years. It includes the industry's historical data, latest market dynamics, opportunities, and revenue growth estimates at the country, regional, and global levels.

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