(MENAFN- GlobeNewsWire - Nasdaq) Major stone flooring market participants include American Olean Tile Co, BCSTONE, Daltile Corporation, Emser Tile, GarageTek, Island Stone, Mohawk Industries Inc., Polycor Inc. Stone Source, UMGG.
Selbyville, Delaware, Nov. 07, 2024 (GLOBE NEWSWIRE) -- The stone flooring market is estimated to hit USD 21 billion by 2032, as reported in a research study by Global Market Insights Inc. The rapid growth in this market is driven by the increasing demand for stylish, durable flooring solutions in both residential and commercial spaces. As consumers and businesses prioritize luxury interiors that combine aesthetic appeal with practicality, the use of high-quality stone materials like granite and marble is on the rise. This trend is closely linked to the expanding construction sector, particularly in developing regions where new infrastructure and building projects are on the rise.
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Stone flooring's popularity stems from its eco-friendly properties, visual appeal, and long-lasting durability, making it a favored choice in sustainable building initiatives. The growing focus on environmentally responsible materials that offer longevity is further enhancing the appeal of stone flooring in modern construction. This combination of luxury, sustainability, and durability is contributing to the global expansion of the stone flooring market.
Marble segment was valued at USD 3.7 billion in 2023 and is expected to grow at a CAGR of 5.2% through 2032. Its enduring popularity is due to its luxury appeal and adaptability across various design styles. However, granite and other stones also present strong competition, particularly for applications requiring more durability.
In terms of application, residential flooring segment held approximately 50.1% share of the stone flooring market in 2023. The demand for premium, durable flooring materials in home renovations and new constructions continues to rise, driven by a growing preference for luxury and personalized interior designs.
New construction dominates the market, fueled by large-scale infrastructure projects and real estate developments. The demand for stone flooring is particularly strong in emerging regions experiencing rapid urbanization.
The market is also segmented by finish type, with polished stone flooring holding a 41% share, favored for its glossy finish that enhances the natural beauty of stone and adds a luxurious touch to interiors.
Asia Pacific leads the global stone flooring market, driven by rapid urbanization, increased construction activities, and a growing preference for high-end flooring materials across the region.
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Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Stone Flooring Market Insights
3.1 Industry ecosystem analysis
3.1.1 Key manufacturers
3.1.2 Distributors
3.1.3 Profit margins across the industry
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Market challenges
3.2.3 Market opportunity
3.2.3.1 New opportunities
3.2.3.2 Growth potential analysis
3.3 Raw material landscape
3.3.1.1 Manufacturing trends
3.3.1.2 Technology evolution
3.3.1.3 Sustainability in raw materials
3.4 Sustainable manufacturing
3.4.1.1 Green practices
3.4.1.2 Decarbonization
3.5 Pricing trends (USD/Sq Meter), 2021 to 2032
3.5.1.1 North America
3.5.1.2 Europe
3.5.1.3 Asia Pacific
3.5.1.4 Latin America
3.5.1.5 Middle East & Africa
3.6 Regulations & market impact
3.7 Porter's analysis
3.8 PESTEL analysis
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