Browse in-depth TOC on “Stone Flooring Market”
211 – Tables
43 – Figures
211 – Pages
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Granite is projected to be the fastest-growing segment in the stone flooring market.
In terms of value, the granite segment of the stone flooring industry will grow at the fastest rate between 2024 and 2029. Granite is resistant to degradation regardless of prolonged usage. This makes it ideal for public spaces with lots of foot traffic, such as restaurants, workplaces, and hotels. It comes in a wide variety of colors and patterns, so consumers can choose one that matches the style of their home or business. Granite offers choices for everyone, whether the customer wants a sleek, contemporary design or something more conventional. A lot of homeowners are adding granite to their bathrooms and kitchens to make the areas feel more opulent. Granite is a popular material for flooring in both homes and businesses because of its strength and elegance.
The residential segment is expected to dominate the stone flooring market.
The residential application is reported the most substantial demand for the stone flooring market in 2023, in terms of value and volume. Rising incomes and economic growth, especially in countries like China and India, mean more people can afford high-end materials like stone flooring. As more people move into the middle and upper-middle class, they want luxury features in their homes, and stone flooring is often seen as a symbol of prestige and luxury. As cities grow and new homes are built, there’s a big demand for flooring that looks good and lasts long.
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North America is the largest market for stone flooring.
The Asia Pacific region emerges as the largest market in the stone flooring industry among North America, Europe, the Middle East & Africa (MEA), and South America, primarily due to several key factors. This growth is fueled by increasing disposable incomes and a burgeoning middle class, prompting greater investments in high-end residential properties across the region. This is propelling the demand for premium flooring materials like natural stone. Commercial establishments such as hotels, office buildings, and shopping malls are also increasingly choosing stone flooring to elevate their visual appeal and ensure long-lasting durability. Prominent hotel chains in Singapore and Kuala Lumpur are opting for marble and granite floors to appeal to a discerning clientele.
Key Players
Mohawk Industries, Inc. (US), Shaw Industries Group, Inc. (US), Stone Source LLC (US), Polycor Inc. (US), and Emser Tile (US) are the key players operating in the stone flooring market. Expansions, acquisitions, and partnerships are some of the major strategies adopted by these key players to enhance their positions in the stone flooring market.
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