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Paving Stone market Size, Share, Competitive Landscape and Trend Analysis Report: Global Opportunity Analysis and industry Forecast, 2021-2031
The report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the paving stone market analysis from 2021 to 2031.” - alliedmarketresearchWILMINGTON, DELAWARE, UNITED STATES, November 8, 2024 /EINPresswire / -- Dynamics of the Market:
According to a new report published by Allied Market Research, titled,“Paving Stone Market ," The paving stone market was valued at $40.3 billion in 2021, and is estimated to reach $86.7 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031.
Paving stone materials such as concrete and clay brick and quarry stones are more versatile and popular. They are also easily mouldable and available in a number of pricing ranges. While the functional characteristics of composite paving materials will continue to be important in the development of the paving materials market, the increase in on-road vehicle park, as well as the rapid growth of the residential sector, are driving the paving stone market size. The construction sector's increased usage of paving materials is also expected to boost the paving stone market share forecast period.
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However, some of the disadvantages of paving stone include its certain unfavorable properties. Natural stone has the disadvantage of soaking much more moisture than concrete or brick. During the winter, moisture within the stones might freeze and cause the stones to crack. This causes a visible break on the surface of the stone, which might damage the entire look of the patio. These factors are anticipated to hamper the paving stone industry growth in the upcoming years.
The global rise in total length of roads, along with population growth, will drive the expansion of the paving materials market over the coming years. Additionally, the demand for smart highways is rising due to the growing number of accidents on the roads around the world, particularly in hilly areas. According to the WHO, road accidents claim the lives of about 1.3 million people every year, while 20 to 50 million others have mild to moderate injuries. Due to the rising number of traffic accidents, there is a growing demand for smart highways, which provides the paving stone market opportunities
The global paving stone market is segmented based on paving material, natural stone pavers, application, end-use, and region. By paving material, it is segregated into concrete pavers, natural stone pavers, and clay brick pavers. As per natural stone pavers, it is classified into granite, marble, limestone, slate, sandstone, and others. According to application, it is divided into driveway, walkway, patio, pool decks, garden, and others. Depending on end-use, it is bifurcated into residential construction and commercial construction. Region wise, the paving stone market analysis across North America, Europe, Asia-Pacific, and LAMEA.
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Leading Player:
The key players profiled in the paving stone market report include Thomas Armstrong Group, co, NGM Blocks, Pavestone UK Ltd., Anchor Block Company, ARO Granite Industries Ltd., Unilock, Mumal Marbles Pvt. Ltd., Arvicon International, and Wienerberger.
Key Findings Of The Study:
Based on paving material, the concrete pavers sub-segment emerged as the global leader in 2021 and natural stone pavers sub-segment is anticipated to be the fastest growing sub-segment during the paving stone market forecast period.
Based on end-use, the commercial construction sub-segment emerged as the global leader in 2021 and residential construction sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
Based on application, the walkway sub-segment emerged as the global leader in 2021 and driveway sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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