Global Natural Stone Market to Reach $48.06 Billion by 2026

Portland, Ore. -- Allied Market Research recently published a report, titled "Natural Stone Market by Type (Marble, Granite, Limestone, and Others) and Application (Flooring, Memorial Arts, Wall Cladding, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global natural stone industry is estimated at $35.12 billion in 2018 and is expected to hit $48.06 billion by 2026, registering a CAGR of 3.9% from 2019 to 2026.

A surge in building renovation & remodeling, growing popularity of outdoor entertaining area among wall cladding end-users, rapid urbanization as a result of increasing population, and rise in demand for natural stone in emerging economies fuel the growth of the global natural stone market. On the other hand, increase in emphasis toward utilization of green and eco-friendly materials impedes the growth to some extent. However, increase in government and private investments in infrastructure sector is expected to pave the way for a number of lucrative opportunities for the key players in the industry.