Global Stone Flooring Market to Reach US$ 20.1 Billion by 2032, Propelled by Increasing Demand for Durable and Aesthetically Appealing Floorings

November 23, 2022 | Chemical & Materials

According to the latest report by IMARC Group, titled “Stone Flooring Market Report by Raw Material (Granite, Marble, Limestone, Sandstone, Slate, and Others), Flooring Type (Natural, Artificial), Colour (White and Black, Beige and Grey, Green, and Others), Finished Product (Tiles, Slabs), Application (Residential, Non-Residential), and Region 2024-2032," the global stone flooring market size reached US$ 11.2 Billion in 2023. Stone flooring is a highly durable permanent covering that is engineered by crushing, binding, cutting slabs, and processing various mountain-acquired minerals, including quartzite, slate, marble, and limestone, before shaping and polishing the product. It is incombustible, aesthetically appealing, easy to clean and stain, crack and moisture-resistant, temperature controlled, and can easily withstand the wear and tear caused by constant foot traffic. Apart from this, stone flooring offers a longer life span over vinyl floorings, requires low maintenance, and adds value to the space. As a result, it is extensively installed in constructing various monuments and residential and commercial complexes, including malls, office buildings, and educational institutes. Currently, stone flooring is commercially available in varying designs and patterns.

Global Stone Flooring Market Trends:

The growth of the global stone flooring market can be attributed to ongoing construction activities and increasing investments in various infrastructural and renovation projects. In line with this, the rising need for highly durable, aesthetically appealing, and luxurious natural stone floorings across commercial and residential buildings for retrofitting and wall cladding is acting as another growth-inducing factor. Additionally, the escalating environmental concerns amongst consumers have prompted governments to encourage the uptake of sustainable materials, such as stone floorings, as they are eco-friendly, reusable, and recyclable, which, in turn, is supporting the market growth. Such construction materials further have no formaldehyde and volatile organic compound (VOC) emissions; therefore, they are employed in porches, backyards, and pavements as floorings. Moreover, the advent of inexpensive and versatile stone plastic composite (SPC) floors or tiles by key players is propelling the market growth. Apart from this, rapid industrialization, fueling consumer spending capacities, considerable expansion in the real estate industry, and the growing consumer awareness regarding the multiple product benefits over conventional floorings are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 20.1 Billion by 2032, growing at a CAGR of 6.5% during 2024-2032.

Market Summary

  • Based on the raw material, the market has been segregated into granite, marble, limestone, sandstone, slate, and others.
  • On the basis of the flooring type, the market has been bifurcated into natural and artificial.
  • Based on the colour, the market has been segmented into white and black, beige and grey, green, and others.
  • On the basis of the finished product, the market has been bifurcated into tiles and slabs.
  • Based on the application, the market has been divided into residential and non-residential.
  • On a regional basis, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and the Middle East and Africa.
  • The report has also analyzed the competitive landscape of the market along with the profiles of the key players.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Raw Material, Flooring Type, Colour, Finished Product, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Customization Scope 10% Free Customization
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Global Stone Flooring Market to Reach US$ 20.1 Billion by 2032, Propelled by Increasing Demand for Durable and Aesthetically Appealing Floorings
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