Natural Stone Tiles Market Estimated to Register a CAGR of 6.75% over 2016-2020

Date: 2016-09-11

Even though the global real estate is facing a downturn or stagnancy for growth, the global demand for non-resilient flooring is estimated to be 97 billion square feet in 2016, Natural Stone Tiles accounted for approximately 7.8% of this volume. Such demand can be attributed to increase usage in private property applications such luxurious houses as well as work and office spaces. 

Among stone flooring, marble and granite are expected to witness high growth. Manufactured Natural Stone Tiles have significantly contributed to overall industry growth.

Luxurious residential applications contributed to over 73% of the overall Natural Stone Tiles market revenue in 2015. Exponential increase in property resale has led to an increase in homeowner remodeling and home improvement projects and escalation in the prices of residential property across the globe. This has proved to be an incentive for non-movers to invest in their homes and upgrade to stone countertops and flooring. 

At this case, the researcher reveals Natural Stone Tiles Market Estimated to Register a CAGR of 6.75% over 2016-2020.

In terms of geographic, developing markets from Asia Pacific have captured a sizable portion of the overall demand, both in terms of volume and revenue, which can be primarily attributed to rapid urbanization and increasing infrastructure facilities in the region. Increased demand from retail, healthcare and education sectors along with increasing demand from the commercial sector have driven the non-resilient flooring market in North America and Europe.

Raw material costs have significantly impacted the Natural Stone Tiles industry. Natural Stone Tiles need to be mined, processed into small slabs that can then be used for flooring, thereby making them expensive. Technological advancements in mining and processing of natural and manufactured stone are expected to result in reduced prices over the next five years.

Worldwide Natural Stone Tiles market share by region as following:


Read Full Report:

Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 001-510-400-8520

Contact With Us
Join templatemonster at google+
Customized Research
Request Sample