Granite Market Analysis, Share, Industry, Opportunities 2031

Segments - Granite Market by Products (Granite Slabs and Granite Tiles), Applications (Kitchen Countertops, Flooring, Stair Trends, Monuments, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Riddhesh Dani

Fact-checked by : Harneet Meher

Editor : Shruti Bhat

Report Description

The Global Granite Market size was valued at USD 17.38 Million in 2022 and is expected to surpass USD 27.88 Million by 2031, expanding at a CAGR of 5.39% during the forecast period, 2023 – 2031. Granite is a hard stone, which is utilized to make sculptures, memorials, and gravestones. It has also been widely employed as flooring tiles and dimension stones. In modern architecture, granite slabs and tiles are used to make countertops, bar tops, fireplaces, staircases, murals, and paving stones. They are also used as building stones for bridges, memorials, monuments, and buildings. A form of granite, known as azurite granite, is primarily employed as a gemstone and also for construction purposes.

Granite is also a natural source of radiation, which is similar to most natural stones. Some reports have addressed high radioactivity in some granites. Uranium and thorium are also found in granite. This, in turn, has increased the concern regarding granite being used in building materials. In the construction industry, the granite is employed in either crushed form or dimensional form.

The COVID-19 pandemic disrupted the growth of the globe. The restriction in the operations of construction activities and mining took a toll on the granite market across the globe. This, in turn, restricted the supply chain activities. However, the relaxation in restriction in various parts of the globe has stimulated the market growth. The granite market is expected to recover by end of 2021.

Market Trends, Drivers, Restraints, and Opportunities:

Expanding home applications of granite beyond the kitchen is anticipated to drive healthy growth of the market.
Rising commercial real estate investments offer positive outlook for the market.
Increasing use of granite in building renovations & remodeling is expected to proliferate the market growth.
High cost of granite can hamper the market growth.
The presence of alternative stones can create challenges for the growth of the market.
Rapid urbanization is estimated to create lucrative opportunities for the market.

Scope of Granite Market Report

The report on granite market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes	Details
Report Title	Granite Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016 - 2021
Forecast Period	2023–2031
Segmentation	Products (Granite Slabs and Granite Tiles), Applications (Kitchen Countertops, Flooring, Stair Trends, Monuments, and Others)
Regional Scope	Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Report Coverage	Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Key Players Covered	Shanshui Stone, Xishi Group, Cosentino, Xinfeng Group, Williams Stone, Amso International, and Swenson Granite

Granite Market Segment Insights

Granite slabs and tiles will have a significant share in the market:

On the basis of products, the market is divided into granite slabs and granite stones. The granite slabs segment is anticipated to account for a significant market share during the forecast period. Granite slabs and stones both are going to have a significant growth in the forecasted period. The granite slabs and tiles will have a significant share in the market in the forecasted period.

Kitchen counterparts segment to hold a considerable market share

In terms of applications, the market is divided into kitchen countertops, flooring, stair trends, monuments, and others Granite is commonly used for home interiors but is restricted to kitchen countertops in many homes. One of the best advantages of using granite for different things at home is that granite has high strength and durability. Being a natural stone, granite can survive heat as it has been formed under great pressure and at high temperatures. The monuments segment is expected to grow at a steady pace in the coming years. Granite as being durable and able to withstand harsh conditions, it’s also used in making monuments owing to its durability.

The flooring segment is expected to grow at a robust pace during the forecast period. Granite bestows luxurious look to the flooring owing to the presence of various designs on the granite stone. Rising preference for the flooring among the home owners is driving the segment growth.

North America to account a significant market share

In terms of regions, the market is divided into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America is expected to grow at a robust pace in the coming years. The presence of huge source of granite in the region is driving the market growth. On the other hand, the market in Asia Pacific is expected to register a substantial CAGR during the forecast period.

Segments

By Products

Granite Slabs
Granite Tiles

By Applications

Kitchen Countertops
Flooring
Stair Trends
Monuments
Others

By Regions

Asia Pacific
North America
Europe
Latin America
Middle East & Africa

By Key Players

Shanshui Stone
Xishi Group
Cosentino
Xinfeng Group
Williams Stone
Amso International
Swenson Granite

Competitive Landscape

The key players of the market are Shanshui Stone, Xishi Group, Cosentino, Xinfeng Group, Williams Stone, Amso International, and Swenson Granite Companies are engaging in partnerships and working on increasing the production capacity to leverage their market position.

Granite Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Granite Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Granite Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Granite Market - Supply Chain
  4.5. Global Granite Market Forecast
     4.5.1. Granite Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Granite Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Granite Market Absolute $ Opportunity
5. Global Granite Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Granite Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Granite Demand Share Forecast, 2019-2026
6. North America Granite Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Granite Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Granite Demand Share Forecast, 2019-2026
7. Latin America Granite Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Granite Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Granite Demand Share Forecast, 2019-2026
8. Europe Granite Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Granite Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Granite Demand Share Forecast, 2019-2026
9. Asia Pacific Granite Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Granite Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Granite Demand Share Forecast, 2019-2026
10. Middle East & Africa Granite Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Granite Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Granite Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Granite Market: Market Share Analysis
  11.2. Granite Distributors and Customers
  11.3. Granite Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Shanshui Stone
     11.4.2. Xishi Group
     11.4.3. Cosentino
     11.4.4. Xinfeng Group
     11.4.5. Williams Stone
     11.4.6. Amso International
     11.4.7. Swenson Granite