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Jun 29, 2023

Natural Stone Slab Global Market Report 2023: Growing Adoption in the Construction Industry Boosts Sector

News provided by 29 May, 2023, 19:30 ET Share this article DUBLIN, May 29, 2023

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29 May, 2023, 19:30 ET

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DUBLIN, May 29, 2023 /PRNewswire/ -- The "Natural Stone Slab Market Size, Share & Trends Analysis Report By Product (Limestone, Granite, Travertine), By Region (North America, Europe, Asia Pacific, Central & South America), And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global natural stone slab market size is expected to reach USD 69.19 billion by 2030, expanding at a CAGR of 4.7% over the forecast period.

This growth can be attributed to the gaining traction in construction applications owing to its superior strength, enhanced physical properties, and uniqueness of colors.

Moreover, granite tiles' zero water absorption property has increased their utilization in kitchen and bathroom applications. These products are widely available in the dimension range of 1x1, 2x2, and others. Prominent suppliers in the market are engaged in offering custom designing and dimensions for flooring products. Increasing construction spending in emerging economies of Asia Pacific and the Middle East owing to the population expansion coupled with strong economic and industrial development is expected to positively affect the demand for natural stone slabs over the forecast period.

Additionally, governments of emerging countries have provided a considerable amount of capital to invest in public infrastructures such as building hospitals, offices, and housing societies. The emergence of private-sector construction firms in China, India, and the UAE is expected to further contribute to construction spending over the coming years and thus support the market's growth.Natural stone slabs are widely used in construction applications in residential and non-residential projects. Flooring, wall decoration, counters, and others are assembled with the help of natural stone slabs. However, the growing penetration of ceramic tiles, engineered wood sheets, panels, and others is expected to increase the market share of substitutes.Key players in the natural stone slab industry are focusing on achieving optimal operational costs, enhancing product quality, maximizing production output, and acquisition of small players to sustain in the competitive market. Mergers & acquisitions, joint ventures, agreements, and other are being focused on by the players. Moreover, high investments in R&D for innovating natural stone slab products for kitchen application is also a factor considered by the natural stone slab players to stay in the competition.Natural Stone Slab Market Report Highlights

Key Topics Covered: Chapter 1. Methodology and ScopeChapter 2. Executive SummaryChapter 3. Natural Stone Slab Market Variables, Trends, & ScopeChapter 4. Natural Stone Slab Market: Product Estimates & Trend Analysis4.1. Natural Stone Slab Market: Product Movement Analysis, 2022 & 20304.2. Granite4.3. Limestone4.4. Travertine4.5. OthersChapter 5. Natural Stone Slab Market: Regional Estimates & Trend AnalysisChapter 6. Competitive LandscapeChapter 7. Company ProfilesCompanies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/1bg4bi

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