Stone Processing Market

The report titled 'Global Stone Processing Market - Growth, Share, Opportunities, and Competitive Analysis, 2023 - 2032 offers strategic visions into the global stone processing market along with the market size (Revenue - US$ Bn and Volume - Kilo Ton).

The said research study covers in-depth analysis of multiple market segments based on product, type, and study across different topographies. The report is also inclusive of competitive profiling of the leading stone processing chemical, mineral and material manufacturers, and latest developments. Stone processing tools and adhesives are used on a large scale in the construction industry which has led to strong growth is reported for stone processing tools from the construction industry Growing population has led to high demand for construction activities worldwide. The market for stone processing is anticipated to expand at a CAGR of 8.9% during the forecast period from 2018 to 2024. The global stone processing market was valued at US$ 5.51 Bn in 2017.

Stone processing market is majorly expected to sustainable growth during the forecast period as high demand is reported for stone processing tools and adhesives from the construction industry. The high grinding efficiency of diamond tools is the major factor driving its growth in the market. Other tools such as abrasives and carbide are also projected to boost market demand for stone processing market in the near future.

The global stone processing market is segmented based on the product, type and geography. Based on the product the market is segmented into sealants, mastics and others. On the basis of type the market is segmented into abrasives, diamond, carbide, and others. Among these, Diamonds dominated the global stone processing tools market in 2016. It is made by hot pressing of metal powder, diamond grit which is held in the powder matrix. Diamond being hard stone, high growth is expected in the application of stone processing tools in the market. Growing progress in the diamond manufacturing technology has led to rising demand for stone processing market.

Geographically, North America accounted for the largest share of global stone processing tools market in 2016. It accounted for more than 35% share of global stone processing tools market. Industries such as construction, sealants, diamond tools and abrasives are expected to generate high demand for stone processing tools in the market. North America is driven by rising stone processing market in the construction sector. U.S. is the major country driving the growth of construction industry in the region. Hence, North America is expected to boost market growth of stone processing tools worldwide.

Europe followed North America in terms of demand for stone processing tools. It is the fastest growing market and second largest market for stone processing tools market. Asia Pacific is also known as large stone trade region worldwide. Hence, Asia Pacific boosts market growth for stone processing tools in the market and is anticipated to increase in the near future. The stone processing market is moderately fragmented; it is dominated by large and medium stone processing companies. Many small and medium companies involved in the production of stone processing are located across the globe.

Key players in the market include TENAX, MONTE BIANCO, SAIT, ENLATAS CAMATTINI, DUNA-CORRADINI, ADRIA MACHINE & TOOL, BIBIELLE, TYROLIT, GLOBAL STONE, BRETON SPA, SHANGHAI SHENBANG MACHINERY CO., LTD. and KLEEMANN GMBH. Companies are carrying out strategic acquisition and merger activities to increase their market share.

Market Segmentation:

By Product

• sealants
• mastics
• others

By Type

• abrasives
• diamond
• carbide
• others

By Geography

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America