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Dimension Stone Mining Global Market Opportunities and Strategies to 2030 - ResearchAndMarkets.com

The "Dimension Stone Mining Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.

The dimension stone mining market reached a value of nearly $5,422.6 million in 2020, having increased at a compound annual growth rate (CAGR) of 0.5% % since 2015. The market is expected to grow from $5,422.6 million in 2020 to $7,611.5 million in 2025 at a rate of 7.0%. The market is then expected to grow at a CAGR of 5.0% from 2025 and reach $9,734.7 million in 2030.

Growth in the historic period resulted from increase in demand for natural stones, strong economic growth in emerging markets, increase in production capacities and low-interest rate environment. Factor that negatively affected growth in the historic period were fatal accidents in mining, reduction in free trade, and geo-political tensions.

Going forward, government policies, growing capital expenditure on infrastructure development, increasing construction activities, and improved logistics infrastructure will drive the growth. Factors that could hinder the growth of the dimension stone mining market in the future include shortage of skilled workforce, and coronavirus pandemic.

The dimension stone mining market is segmented by type marble, granite, limestone, sandstone, and others. The granite was the largest segment of the dimension stone mining market segmented by type, accounting for 34.8% of the total in 2020. Going forward, others segment is expected to be the fastest growing segment in the dimension stone mining market segmented by type, at a CAGR of 10.6% during 2020-2025.

Asia Pacific was the largest region in the dimension stone mining market accounting for 69.0% of the total in 2020. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the dimension stone mining market will be Africa, and North America, where growth will be at CAGRs of 14.8% and 11.4% respectively. These will be followed by Middle East and Eastern Europe where the markets are expected to grow at CAGRs of 8.8% and 7.0% respectively.

The COVID-19 outbreak had a significant impact on the supply chain of the construction industry, including natural stone as governments globally imposed lockdowns and suspended domestic and international transportation services to contain the virus. Manufacturing and supply of construction materials, including dimension stone mining was affected as facilities were shut down and the movement of people and goods were restricted.

The global dimension stone mining market is concentrated, with a small number of large players dominating the market. The top ten competitors in the market made up to 59.4% of the total market in 2020. Major players in the market include Vulcan Materials Company, Martin Marietta Aggregates Inc., HeidelbergCement AG, CRH plc., Cemex S A B de C V, LafargeHolcim, Carmeuse Lime & Stone Inc., MDU Resources Group, Inc., Rogers Group Inc., and Summit Materials, Inc.

The top opportunities in the dimension stone mining market segmented by type will arise in the Others segment, which will gain $1,014.7 billion of global annual sales by 2025. The dimension stone mining market size will gain the most in China at $910.3 billion.

Market-trend-based strategies for the dimension stone mining market include employing precision surface excavation machines to carry out smoother operations in environmentally regulated areas, investment in robotics to improve mining productivity and prevent mining accidents, invest in cognitive computing to improve the efficiency of mining operations, investing in renewable energy capacities to reduce carbon emissions from mining zones, and ultimately drive down their energy costs, and usage of 3D mine visualizers to identify difficult terrains and enhance productivity.

Player-adopted strategies in the metal products market include operating capital, growth capital, dividend growth and returning excess cash to shareholders, enhancement of aggregates-led position in high-growth southeastern and Mid-Atlantic regions and expansion of product offerings to both new and existing customers, increasing production capacity by modernisation and reorganisation of sites at various location, identifying high potential businesses and integrating into existing portfolio and creating further platforms for growth at attractive valuations, and, growth by strengthening existing businesses and identifying ways to add complementary products and services to the group.

To take advantage of these opportunities, the publisher recommends dimension stone mining companies to consider flexible and competitive pricing to help retain their customers and attract new customers, and focus on the acquisitions of mid-size and small companies which are technologically advanced to increase their production capacity and expand their product portfolio, focus on implementing the use of robotics in dimension stone mining improving the efficiency and productivity of stone mines and reduces operational costs, focus on implementing the use of cognitive computing to enhance the decision-making capabilities in mining operations among other strategies.

Companies Mentioned

  • Vulcan Materials Company
  • Martin Marietta Aggregates Inc.
  • HeidelbergCement AG
  • CRH Plc.
  • Cemex S A B de C V

For more information about this report visit https://www.researchandmarkets.com/r/u0boui

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