The global stones market is expected to grow from US$8.06 billion in 2020 to $8.89 billion in 2021 at a compound annual growth rate (CAGR) of 10.3%.
That is the headline figure from a new report –Stones Global Market Report 2021: COVID-19 Impact and Recovery to 2030– from major U.S.-based global business market intelligence company, ResearchAndMarkets.com (R&M.com).
The report highlights how growth in the worldwide stones market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $11.15 billion in 2025 at a CAGR of 6%.
As R&M.com highlights, the stones market consists of sales of stone by entities (organisations, sole traders, and partnerships) that mine and quarry dimension stone such as rough blocks or slabs of stone and crushed and broken stone. It also comprises beneficiating stone activities such as crushing, grinding, washing, screening, pulverising and sizing. The stones market is segmented into dimension stones and crushed stones.
The new R&M.com report notes that Asia Pacific is the largest region in the global stones market, accounting for 58% of the market in 2020. Western Europe is the second-largest region accounting for 26% of the world’s stones market. South America was the smallest market region.
The new study also stresses how precision surface excavation machines are becoming more popular because they help to reduce noise and pollution in sensitive areas. The machines are described as ‘versatile units that utilise a slicing drum to mechanically unearth materials and have advantages over the customary drilling and blasting strategies.’ Surface excavation machines are also said to be ‘low in noise, dust and vibration and can cut more precisely and produce a smaller, more consistent particle size, thus eliminating the need of a primary crusher.’
This, notes R&M.com, is particularly important in mines in environmentally sensitive areas where noise and dirt pollution need to be minimised due to environmental regulation and pressure.
Several major companies in the global stones market are cited in the report, including Vulcan Materials, Martin Marietta Aggregates, CEMEX, Carmeuse Lime & Stone, and Adelaide Brighton.
