Contruction Machines & Equipment - Quarrying Stone & Processing

The Stone Processing Market:

A Surge in Demand

December 2017

Contruction Machines & Equipment - Quarrying Stone & Processing

The Stone Processing Market:

A Surge in Demand

December 2017
The stone processing market was valued at USD4 Bn in 2014 and is expected to reach USD10 Bn by 2022, growing at a CAGR of 8.6 percent during the forecast period 2016-2021, according to a report by Credence Research. Various companies are investing heavily for the construction of office buildings, data centers, universities and malls and have increased the demand for stones in construction sector. This has led to upsurge in demand for stone processing process.

Stone processing has gained high importance in the market, according to Credence Research. Growing construction industry is the major factor boosting growth of global stone processing market globally. The revival of the construction industry after 2008 has led to high demand for tools and adhesives. Growing population worldwide has led to increase in the construction activities. Therefore, high demand is reported for stone processing tools and adhesives from the construction industry worldwide. Construction industry has wide range of applications in the stone processing industry as materials and stones such as crushed stones, gravel, sand, etc. are used for building highways, buildings and other constructional projects. Strong demand for modern architectural designs have also led to rising demand for stone processing tools in the market. A market research report by Technavio has identified growth in construction sector as one of the primary factors that will fuel the growth of the stone processing machines market in the coming years. Several emerging construction projects will drive the market positively. Owing to the increasing demand for smart cities in the developing economies, the stone processing machinery market is set to witness huge growth during the forecast period. Green building concept is one of the key trends contributing towards the stone processing machines market. Several companies across the world is demanding for the construction of green buildings which is increasing the demand for natural stones which are earth-friendly. Natural stones exhibits several features like enduring life-cycle, durability, easy maintenance, and recyclability. Green buildings use natural stones for flooring and the natural stones attributes embodied energy, high thermal capacity, increased durability, and easy availability. The stone processing machine market is fragmented due to the presence of few established players, regional players, and local players. To sustain the competitive environment, the vendors in the market are focusing on product launches, expansions, and strategic acquisitions. Moreover, the vendors are trying to expand their geographic presence to remain competitive in the stone processing machinery market. Biesse Group, Breton, DONATONI MACCHINE, and SCM Group as the key vendors in the global stone processing machines market. The other prominent vendors in the market are Gaspari Menotti, Prussiani Engineering, Thibaut, and Yonani Industries. The stone processing machines market is segmented by end-user type commercial building and residential building. During 2016, the commercial building segment accounted for the major shares of the stone processing machine market. Owing to the increasing investments by the companies, the construction sector is witnessing healthy growth. Moreover, emerging economies such as China and India are investing heavily in smart cities, which will trigger the growth of the stone processing machinery market in the next five years. In terms of geographic regions, APAC will be the major revenue contributor to the stone processing machine market throughout the forecast period. Owing to the increasing investment in the development of commercial and residential sector, this region is set to witness humungous growth in the stone processing machinery market during the forecast period.

The stone processing market (.) is expected to reach USD10 Bn by 2022, growing at a CAGR of 8.6 percent during the forecast period 2016-2021

Fatima Saab

Editor & Researcher/Social Media Officer