SK Stones USA has done the natural stone market USA analysis and found the predictions based on evidence. So our experts have compiled data from various sources and reports that depict the significant boom in the ratio of natural stone market size that we will discuss in this blog. Moreover, we will also look into what are major areas in which we will see a surprising boost in the USA market. So keep engaging with us through this very insightful blog.
- The natural stone market size USA was at 33.8 billion $ and is predicted to rise in 2032 to 57.6 billion dollars.
- The report shows the massive turnover due to the increased number of architectural projects, urbanization, population growth, and commercial projects.
- In analysis, we have seen that granite, marble, and sandstone will be the center of attention especially for the application of flooring.
- Moreover, the natural stone industry will rise to use the products in various projects due to its aesthetic appeal.
- The natural stones industry shows the reports in which they depict natural stones will be on a high surge to use as energy-efficient material due to global warming.
In 2020, the surge of the Ukraine War, and Pandemic negatively affected the Natural Stones Industry USA. Thus, there was inflation in the natural stone rates. So it was seen that customers stopped using this material. For this, the government in the USA took notice and offered remuneration against the decline in the natural stone market USA. That will also provide lucrative opportunities in the natural stone industry.
Research-based Evidence Estimates Increase Market of Natural Stones in 2023-2034
Now, let’s discuss some economic strategist analyst reports that show the differential areas that will cause a boost in the natural stone market size USA. For your convenience, we are listing down the major areas below.
It is predicted that an increased number of investments in housing projects in Japan, the USA, and India will lead the natural stone market size to rise. Not only, in the USA, but the flow of lucrative opportunities in housing construction globally.
From 2023 to 2034, many luxury projects will get a higher place in the natural stone market USA. Additionally, it will increase the demand for natural stone for residential projects like kitchen remodeling, flooring, wall cladding, and pavers.
In reports, the census shows the crazy growth of the population growth that will explicitly scale up the natural stone industry because they will ask for natural stones due to their long-lasting benefits plus aesthetic appeal. Like the durability, strength, and longevity. So the population will be more inclined toward the adoption of limestone, slate, granite, marble, and sandstone in their home renovation to commercial projects.
Commercial and Residential Construction
2023-2034 It Predicted the Flow of Commercial Projects and residential projects. Especially, in the applications like flooring, patios, porches, kitchen countertops, pavers, and wall cladding. That will go up the natural stone market incredibly in 2032.
Increase The Number Of EPC Projects-Infrastructure
There is a notable bump in the engineering procurement construction projects ranging from the real estate market and big urban infrastructures that will spike up the demand for natural stones as well. The report shows the crazy boost in the natural stone industry trends, shares, and sizes in urbanization projects. That includes building roads, buildings, bridges, airports, and power plants.
Along with that, there will be also the major contracts of building up the outdoor entertainment that will also increase the demand for natural stones for aesthetic appeal. Like restaurants, hotels, cinemas, and other commercial entertainment places.
Consumer Demand for Home renovation
Additionally, the consumers will also add durable granite, marble, and quartzite to their homes to add beauty and huge ROI.
Harvard Joint Centre for Housing Studies article
According to this article published in 2021, it shows that 3.8% growth rate of home remodeling or other expenditures. That also seems to go up in the economies study in 203-2034.
National Association of Home Builders’ IBSx virtual event in February 2021
According to this seminar, there were mentioned that home renovation projects will eventually take a rise which was also seen 4% in 2021 according to this event report.
Natural Stone USA Market Analysis
It is also depicted that due to inflation in natural stone prices, there will be a trend in the US market to adopt artificially engineered stones like quartz to hinder growth in the next years.
Flooring Dominated in 2022 Reports
The increasing demand for natural stones for a flooring application due to their efficiency, durability, huge ROI, and longevity
Renovation ruled in 2023 Segment
It is depicted that renovation covered the real estate projects. That will also be set on fire in the coming years.
Get ready to adopt the natural stone before it gets a boost in price in the coming years. For more details talk to our experts for home renovation solutions and advice.