Natural stones are some of the most opulent building materials used in architecture and interior design. These different types of pavers and tiles offer durability, resilience and non-weathering properties and add character to the spaces they are iintegrated with.

Lately, we have seen that the market for natural stones has grown exponentially. In 2020, the market for natural stone was estimated to be worth $33,375.3 million and by 2030, it is anticipated to grow to $50,465.1 million, representing a CAGR of 4.0%. These projections include pavers and tiles such as Travertine, Slate, Limestone, Sandstone, Marble, Granite and Quartzite.

There are a lot of factors that are driving this projection about different types of tiles or pavers of natural stones. In this blog, we will talk about those factors—trends, drivers and challenges. So, let’s dig in.

Trends:

  • Sustainability

Demand for environmentally friendly building materials is rising as people become more ecologically aware. The damaging effects of conventional pavers and tiles on the environment are becoming more well-known. Sustainable building materials can be recycled or reused, have a lower carbon footprint and are frequently derived from renewable resources, all of which reduce waste and greenhouse gas emissions.

For those looking for durable and long-lasting building materials, different types of pavers and tiles from natural stones are appealing alternatives. Not only this, but a lot of governments all around the world also provide incentives for utilising environmentally friendly building materials. These can include financial incentives such as tax credits, subsidies and other rewards to defray the cost of using sustainable building techniques.

  • Digitalisation

The natural stone business is increasingly utilising technology, which enables more accurate stone cutting and shape and improved supply chain tracking and administration. The automated cutting and shape of natural stone are made possible by computer numerical control (CNC) technology. This enables more exact cuts and forms, enhancing the end product’s quality and beauty.

Thanks to digital technologies, the suppliers of different types of pavers and tiles can now connect and work together more efficiently. They now have simple access to partners, suppliers and clients everywhere, which has expanded their business opportunities and growth. The supply chain for different types of pavers or tiles, from the quarry to the final consumer, is also being easily tracked with technology. By doing this, businesses can better manage their inventory, reduce waste and guarantee that their products are delivered on time and to the right place.

Drivers:

  • Growing construction industry

Many nations are investing in infrastructure development, commercial and residential construction and rehabilitation projects, which is causing the construction industry to boom. Numerous reasons, including rising urbanisation, population increase and economic development, are responsible for this growth. Governments are spending a lot on infrastructure projects, such as water supply systems, electricity infrastructure and transportation networks. Due to the enormous technical and construction knowledge these projects demand, there will be an increase in job possibilities and business expansion in the construction sector.

  • Increasing disposable incomes

Due to rising consumer disposable incomes, the natural stone sector is expanding. People tend to spend more on home restoration and interior design as their income levels improve, which include employing premium natural stone goods for flooring, worktops and other ornamental elements.

Natural stone is a costly material that gives any room a posh and elegant appearance. Consumers are more likely to spend money on different types of pavers and tiles for their homes, offices and other areas when disposable incomes rise. Even middle-class consumers are increasingly investing in natural stone products to improve the appearance and feel of their homes, proving that this trend is not just confined to wealthy consumers.

Challenges:

  • High cost

Natural stone’s employment in some construction projects may be constrained because it is frequently more expensive than synthetic substitutes. High prices are a significant obstacle for the natural stone sector. Because natural stone is a costly material, additional costs are associated with its extraction, transportation, processing and installation.

Additionally, changes in the cost of raw materials such as Marble and Granite can affect the cost of things made of natural stone. These stones also come in various types of pavers and tiles alternative, which are distinguished by colours, textures and finishes. Due to this price volatility, businesses in the natural stone sector may find it challenging to maintain constant pricing and profitability.

  • Limited availability

Another issue the natural stone sector faces are limited supply. Natural stone of any form, pavers or tiles, is a finite resource and it is difficult to find high-quality stone. It can be challenging for enterprises in the sector to maintain stable supply chains and pricing due to the potential for shortages and price increases.

Furthermore, quarrying and mining operations may be restricted because of the potential harm natural stone extraction may do to the environment. This may further reduce the supply of premium natural stone, making it a rare and priceless resource.

Overall, the demand for different types of pavers and tiles constructed from natural stones is anticipated to increase in the following years due to rising awareness of its advantages and rising demand for environmentally friendly building materials. However, issues like the expensive price of natural stone and the environmental risks associated with its extraction and transportation can somewhat restrain its development.