Summary

The global stone flooring market size is projected to grow from USD 14.7 billion in 2024 to USD 19.9 billion by 2029, at a CAGR of 6.3% during the forecast period. The worldwide growth of the construction industry is one of the primary drivers for the market's growth prospects. The industry is expanding as a result of consumers' increasing need for contemporary, aesthetically pleasing interiors for both residential and commercial buildings. A growing trend is the use of stones, especially marble, to give opulent finishes to the flooring of a variety of structures, including offices, hotels, theaters, churches, and monuments. Another driver propelling expansion is customers' growing awareness of environmental issues.

By type, the granite segment to account for fastest growing segment during the forecast period
Granite offers durability, esthetic attractiveness, and versatility. Composed mainly of quartz, feldspar, and mica, this igneous rock is celebrated for its hardness and strength, rendering it highly resilient against scratches, stains, and wear. These qualities make granite exceptionally well-suited for demanding environments like commercial buildings, hotels, and residential spaces, where durability and ease of maintenance are essential considerations

By application, residential segment to account for the highest CAGR during the forecast period
Economic stability and growth play a pivotal role in driving residential construction activity, influencing preferences for premium building materials like natural stone flooring. During prosperous periods characterized by low interest rates and rising incomes, there is heightened consumer confidence and increased investment in upscale residential projects. This drives the demand for durable and esthetically appealing materials such as marble or granite. The changing demographics globally, including an aging population, and younger generations seeking sustainable and stylish living spaces, further propels the preference for natural stone options in residential construction.
By region, Asia Pacific stone flooring market is projected to grow at the highest CAGR during the forecast period
The economic expansion throughout the Asia Pacific region, particularly in emerging economies such as China and India, has heightened the demand for upscale construction materials, including natural stone flooring. Increased disposable incomes, urbanization, and investments in infrastructure have stimulated construction activities across diverse sectors, from residential developments to commercial centers and industrial zones. This economic growth fosters the preference for sophisticated and visually appealing flooring options like marble, granite, and others.

By Company: Tier1: 25%, Tier 2: 42%, Tier3: 33%
By Designation: C-Level: 20%, Director Level: 30%, Others: 50%
By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, South America: 10%, and Middle East & Africa: 20%.

Companies Covered: Mohawk Industries, Inc. (US), Shaw Industries Group, Inc. (US), Stone Flooring LLC (US), Polycor Inc. (US), and Emser Tile (US) and others are covered in the stone flooring market.
Research Coverage
The market study covers the stone flooring market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, application, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the stone flooring market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall stone flooring market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses, and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Improvement in housing markets), restraints (Elevated expenses linked to natural stone materials), opportunities (Expansion of hospitality and tourism industries), and challenges (Availability of alternative flooring materials) influencing the growth of the stone flooring market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the stone flooring market
• Market Development: Comprehensive information about lucrative markets – the report analyses the stone flooring market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the stone flooring market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Mohawk Industries, Inc. (US), Shaw Industries Group, Inc. (US), Stone Flooring LLC (US), Polycor Inc. (US), and Emser Tile (US) among others in the stone flooring market. The report also helps stakeholders understand the pulse of the stone flooring and provides them with information on key market drivers, restraints, challenges, and opportunities.

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Table of Contents

1 INTRODUCTION 21
1.1 STUDY OBJECTIVES 21
1.2 MARKET DEFINITION 21
1.2.1 INCLUSIONS AND EXCLUSIONS 21
1.3 STUDY SCOPE 22
1.3.1 MARKET SEGMENTATION 22
1.3.2 REGIONAL SCOPE 22
1.3.3 YEARS CONSIDERED 23
1.3.4 CURRENCY CONSIDERED 23
1.3.5 UNITS CONSIDERED 23
1.4 LIMITATIONS 23
1.5 STAKEHOLDERS 24
1.6 SUMMARY OF CHANGES 24
2 RESEARCH METHODOLOGY 25
2.1 RESEARCH DATA 25
2.1.1 SECONDARY DATA 26
2.1.1.1 Key data from secondary sources 26
2.1.2 PRIMARY DATA 27
2.1.2.1 Key participants in primary interviews 27
2.1.2.2 Breakdown of primary interviews 27
2.1.2.3 Key industry insights 28
2.2 MARKET ESTIMATION 28
2.2.1 TOP-DOWN APPROACH 28
2.2.2 BOTTOM-UP APPROACH 29
2.3 BASE NUMBER CALCULATION 29
2.3.1 DEMAND-SIDE APPROACH 29
2.3.2 SUPPLY-SIDE APPROACH 30
2.4 MARKET FORECAST APPROACH 30
2.4.1 SUPPLY SIDE 30
2.4.2 DEMAND SIDE 30
2.5 DATA TRIANGULATION 31
2.6 RESEARCH ASSUMPTIONS 32
2.7 FACTOR ANALYSIS 32
2.8 RESEARCH LIMITATIONS 33
2.9 RECESSION IMPACT 33
2.10 RISK ASSESSMENT 33
 
3 EXECUTIVE SUMMARY 34
4 PREMIUM INSIGHTS 37
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN STONE FLOORING MARKET 37
4.2 STONE FLOORING MARKET, BY TYPE 37
4.3 STONE FLOORING MARKET, BY APPLICATION 38
4.4 ASIA PACIFIC: STONE FLOORING MARKET, BY TYPE & COUNTRY 38
4.5 STONE FLOORING MARKET: BY COUNTRY 39
5 MARKET OVERVIEW 40
5.1 INTRODUCTION 40
5.2 MARKET DYNAMICS 41
5.2.1 DRIVERS 41
5.2.1.1 Improvement in housing markets 41
5.2.1.2 Rise in population and urbanization 43
5.2.1.3 Government initiatives to encourage sustainability in construction 44
5.2.1.4 Increasing investments in infrastructure sector 44
5.2.2 RESTRAINTS 45
5.2.2.1 Elevated expenses linked to natural stone materials 45
5.2.2.2 Need for regular maintenance 46
5.2.3 OPPORTUNITIES 46
5.2.3.1 Expansion of hospitality and tourism industries 46
5.2.3.2 Increasing demand for high-quality flooring solutions 47
5.2.4 CHALLENGES 47
5.2.4.1 Irregular availability, and variations in appearance 47
5.2.4.2 Environmental impact of stone quarrying 48
5.2.4.3 Availability of alternative flooring materials 48
6 INDUSTRY TRENDS 49
6.1 PATENT ANALYSIS 49
6.1.1 INTRODUCTION 49
6.1.2 METHODOLOGY 49
6.1.3 PATENT ANALYSIS (2014–2023) 49
6.2 KEY STAKEHOLDERS AND BUYING CRITERIA 52
6.2.1 KEY STAKEHOLDERS IN BUYING PROCESS 52
6.2.2 BUYING CRITERIA 52
6.3 HOME IMPROVEMENT SERVICES: INVESTMENT & FUNDING SCENARIO 53
6.4 REGULATORY LANDSCAPE 54
6.4.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 54
6.5 KEY CONFERENCES & EVENTS, 2024–2025 56
6.6 TRADE ANALYSIS 57
6.7 VALUE CHAIN ANALYSIS 58
6.8 ECOSYSTEM ANALYSIS 59
6.9 PORTER’S FIVE FORCES ANALYSIS 60
6.9.1 BARGAINING POWER OF SUPPLIERS 61
6.9.2 BARGAINING POWER OF BUYERS 61
6.9.3 INTENSITY OF COMPETITIVE RIVALRY 61
6.9.4 THREAT OF NEW ENTRANTS 62
6.9.5 THREAT OF SUBSTITUTES 62
6.10 PRICING ANALYSIS 62
6.10.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE 62
6.10.2 PRICING ANALYSIS, BY REGION 63
6.11 MACROECONOMIC ANALYSIS 64
6.11.1 INTRODUCTION 64
6.11.2 GDP TRENDS AND FORECASTS 64
6.11.3 CONSTRUCTION INDUSTRY AS PERCENTAGE OF GDP 65
6.12 TECHNOLOGY ANALYSIS 66
6.12.1 KEY TECHNOLOGIES 66
6.12.1.1 CNC machines 66
6.12.1.2 AutoCAD 66
6.12.1.3 Hydrostatic port technology (HPT) 67
6.12.1.4 Triple reinforcement technology (TRT) 67
6.12.2 COMPLEMENTARY TECHNOLOGIES 67
6.12.2.1 Anti-slip technology 67
6.12.2.2 3D modeling & visualization 68
6.13 TRENDS & DISRUPTIONS IMPACTING CUSTOMER BUSINESS 68
6.14 CASE STUDY ANALYSIS 69
6.14.1 CASE STUDY 1: SEAMLESS FLOW OF STONE TILES CONNECTS INDOOR AND OUTDOOR SPACES 69
6.14.2 CASE STUDY 2: ANTIQUED LIMESTONE FLOORING RETAINS RUSTIC APPEAL OF FARMHOUSE 69
7 STONE FLOORING MARKET, BY APPLICATION 70
7.1 INTRODUCTION 71
7.2 RESIDENTIAL 72
7.2.1 RISING DEMAND FOR NATURAL STONE IN SINGLE-FAMILY AND MULTI-UNIT RESIDENCES TO PROPEL MARKET 72
7.3 NON-RESIDENTIAL 73
7.3.1 RISING COMMERCIAL CONSTRUCTION IN EMERGING ECONOMIES TO BOOST MARKET 73
 
8 STONE FLOORING MARKET, BY TYPE 74
8.1 INTRODUCTION 75
8.2 GRANITE 76
8.2.1 HIGH DEMAND IN CONSTRUCTION INDUSTRY TO DRIVE MARKET 76
8.3 LIMEST0NE 77
8.3.1 NEED FOR ECO-FRIENDLY FLOORING OPTIONS TO BOOST DEMAND 77
8.4 MARBLE 77
8.4.1 INCREASING DEMAND FOR HIGH-END HOME RENOVATIONS TO DRIVE MARKET 77
8.5 OTHER TYPES 77
9 STONE FLOORING MARKET, BY REGION 78
9.1 INTRODUCTION 79
9.2 ASIA PACIFIC 80
9.2.1 ASIA PACIFIC: RECESSION IMPACT 81
9.2.2 CHINA 84
9.2.2.1 Surge in construction of green buildings to drive market 84
9.2.3 JAPAN 86
9.2.3.1 Urban renewal and redevelopment projects to drive market 86
9.2.4 INDIA 88
9.2.4.1 Growing real estate and tourism sectors to drive demand 88
9.2.5 SOUTH KOREA 90
9.2.5.1 Strategic partnerships in construction industry to boost market 90
9.2.6 INDONESIA 91
9.2.6.1 Rising demand in hospitality sector to propel market 91
9.2.7 REST OF ASIA PACIFIC 93
9.3 EUROPE 94
9.3.1 EUROPE: RECESSION IMPACT 95
9.3.2 GERMANY 97
9.3.2.1 Focus on energy-efficient renovation projects to drive market 97
9.3.3 FRANCE 99
9.3.3.1 Government initiatives to fuel demand 99
9.3.4 UK 101
9.3.4.1 Steady increase in construction sector to boost demand 101
9.3.5 ITALY 102
9.3.5.1 Investments in non-residential construction projects to fuel market 102
9.3.6 SPAIN 104
9.3.6.1 Government investments in construction sector to propel market 104
9.3.7 RUSSIA 105
9.3.7.1 Urban development initiatives to propel market 105
9.3.8 REST OF EUROPE 107
 
9.4 NORTH AMERICA 108
9.4.1 NORTH AMERICA: RECESSION IMPACT 109
9.4.2 US 110
9.4.2.1 Booming construction sector to drive market 110
9.4.3 CANADA 112
9.4.3.1 Focus on sustainable building practices to drive market 112
9.4.4 MEXICO 114
9.4.4.1 Public infrastructure investments to fuel market 114
9.5 MIDDLE EAST & AFRICA 115
9.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT 115
9.5.2 GCC COUNTRIES 118
9.5.2.1 SAUDI ARABIA 119
9.5.2.1.1 Robust construction industry to boost market 119
9.5.2.2 UAE 121
9.5.2.2.1 Increasing government support for construction projects to drive market 121
9.5.2.3 Rest of GCC Countries 122
9.5.3 SOUTH AFRICA 124
9.5.3.1 Increasing infrastructure development to drive demand 124
9.5.4 REST OF MIDDLE EAST & AFRICA 125
9.6 SOUTH AMERICA 127
9.6.1 SOUTH AMERICA: IMPACT OF RECESSION 127
9.6.2 BRAZIL 129
9.6.2.1 Growing construction industry to boost market 129
9.6.3 ARGENTINA 131
9.6.3.1 Public-private partnerships to propel demand 131
9.6.4 REST OF SOUTH AMERICA 132
10 COMPETITIVE LANDSCAPE 135
10.1 KEY PLAYER STRATEGIES/RIGHT TO WIN, JANUARY 2019–JUNE 2024 135
10.2 MARKET SHARE ANALYSIS, 2023 137
10.3 MARKET RANKING ANALYSIS 138
10.4 REVENUE ANALYSIS, 2019–2023 140
10.5 COMPANY VALUATION AND FINANCIAL METRICS 140
10.6 PRODUCT/BRAND COMPARISON 142
10.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 142
10.7.1 STARS 142
10.7.2 EMERGING LEADERS 142
10.7.3 PERVASIVE PLAYERS 143
10.7.4 PARTICIPANTS 143
10.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 144
 
10.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 147
10.8.1 PROGRESSIVE COMPANIES 147
10.8.2 RESPONSIVE COMPANIES 147
10.8.3 DYNAMIC COMPANIES 147
10.8.4 STARTING BLOCKS 147
10.9 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 149
10.9.1 STONE FLOORING MARKET: KEY STARTUPS/SMES 149
10.10 COMPETITIVE SCENARIO AND TRENDS 151
10.10.1 DEALS 151
10.10.2 EXPANSIONS 152
11 COMPANY PROFILES 153
11.1 KEY PLAYERS 153
11.1.1 MOHAWK INDUSTRIES, INC. 153
11.1.1.1 Business overview 153
11.1.1.2 Products/Solutions/Services offered 154
11.1.1.3 MnM view 155
11.1.1.3.1 Right to win 155
11.1.1.3.2 Strategic choices 155
11.1.1.3.3 Weaknesses & competitive threats 155
11.1.2 SHAW INDUSTRIES GROUP, INC. 156
11.1.2.1 Business overview 156
11.1.2.2 Products/Solutions/Services offered 156
11.1.2.3 Recent developments 157
11.1.2.3.1 Deals 157
11.1.2.3.2 Expansions 157
11.1.2.4 MnM view 157
11.1.2.4.1 Right to win 157
11.1.2.4.2 Strategic choices 157
11.1.2.4.3 Weaknesses & competitive threats 158
11.1.3 POLYCOR INC. 159
11.1.3.1 Business overview 159
11.1.3.2 Products/Solutions/Services offered 159
11.1.3.3 Recent developments 160
11.1.3.3.1 Deals 160
11.1.3.4 MnM view 160
11.1.3.4.1 Right to win 160
11.1.3.4.2 Strategic choices 160
11.1.3.4.3 Weaknesses & competitive threats 161
11.1.4 EMSER TILE 162
11.1.4.1 Business overview 162
11.1.4.2 Products/Solutions/Services offered 162
11.1.4.3 Recent developments 163
11.1.4.3.1 Expansions 163
11.1.4.4 MnM view 164
11.1.4.4.1 Right to win 164
11.1.4.4.2 Strategic choices 164
11.1.4.4.3 Weaknesses & competitive threats 164
11.1.5 STONE SOURCE LLC 165
11.1.5.1 Business overview 165
11.1.5.2 Products/Solutions/Services offered 165
11.1.5.3 Recent developments 166
11.1.5.3.1 Deals 166
11.1.5.4 MnM view 166
11.1.5.4.1 Right to win 166
11.1.5.4.2 Strategic choices 166
11.1.5.4.3 Weaknesses & competitive threats 166
11.1.6 LEVANTINA Y ASOCIADOS DE MINERALES, S.A. 167
11.1.6.1 Business overview 167
11.1.6.2 Products/Solutions/Services offered 167
11.1.6.3 MnM view 168
11.1.7 MADHAV MARBLES AND GRANITES LTD. 169
11.1.7.1 Business overview 169
11.1.7.2 Products/Solutions/Services offered 169
11.1.7.3 MnM view 170
11.1.8 ARO GRANITE INDUSTRIES LTD. 171
11.1.8.1 Business overview 171
11.1.8.2 Products/Solutions/Services offered 172
11.1.8.3 MnM view 172
11.1.9 ASIAN GRANITO INDIA LIMITED 173
11.1.9.1 Business overview 173
11.1.9.2 Products/Solutions/Services offered 174
11.1.9.3 MnM view 174
11.1.10 OLD WORLD STONE IMPORTS FLOORING AND DESIGN 175
11.1.10.1 Business overview 175
11.1.10.2 Products/Solutions/Services offered 175
11.1.10.3 MnM view 175
11.2 OTHER PLAYERS 176
11.2.1 JAGSON INDIA 176
11.2.2 WESTMINSTER STONE LTD. 176
11.2.3 H & R JOHNSON (INDIA) 177
11.2.4 EMPEROR PORRSELEIN TEGEL B.V. 177
11.2.5 ARTISTIC TILE, INC. 178
11.2.6 KEVAY GROUP PVT. LTD. 178
11.2.7 RK MARBLES INDIA 179
11.2.8 TIBA MARBLE 179
11.2.9 TAB SURFACES 180
11.2.10 UNIVERSAL MARBLE & GRANITE GROUP LTD. 180
11.2.11 CLASSIC MARBLE COMPANY (CMC) 181
11.2.12 ADITYA STONEX 181
11.2.13 GUPTA STONE 182
11.2.14 REGATTA GRANITES INDIA 182
11.2.15 AVID MARBLES 183
12 ADJACENT & RELATED MARKETS 184
12.1 INTRODUCTION 184
12.2 LIMITATIONS 184
12.2.1 FLOORING MARKET 184
12.2.1.1 Market definition 184
12.2.1.2 Flooring market, by material 184
12.2.1.3 Flooring market, by end-use industry 186
12.2.1.4 Flooring market, by region 186
12.2.2 FLOOR ADHESIVE MARKET 188
12.2.2.1 Market definition 188
12.2.2.2 Floor adhesive market, by resin type 188
12.2.2.3 Floor adhesive market, by technology 190
12.2.2.4 Floor adhesive market, by end use 191
12.2.2.5 Floor adhesive market, by application 192
12.2.2.6 Floor adhesive market, by region 193
13 APPENDIX 196
13.1 DISCUSSION GUIDE 196
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 199
13.3 CUSTOMIZATION OPTIONS 201
13.4 RELATED REPORTS 201
13.5 AUTHOR DETAILS 202