Asia-Pacific Accounted for 67.1% of Global Stone Blocks Market in 2011, Reports Timetric
01 Feb 2013 • by Natalie Aster
Asia-Pacific accounted for 67.1% of the global stone blocks market in 2011. In the same year, Europe and Latin America were the second- and third-largest regional markets with shares of 27.2% and 3.6% respectively. The continuing uncertainty in Europe and sluggish growth in the US are expected to cut the market shares of Europe and North America, with demand in the Asia-Pacific region growing faster due to rising demand for residential spaces in stable and growing economies such as China and India. Timetric expects the share of the European market to fall from 27.2% in 2011 to 23.2% in 2016.
According to the report “Global Stone Blocks – Market Opportunity and Environment, Analyses and Forecasts to 2016” by Timetric, in terms of growth, the global stone blocks market recorded a CAGR of 7.09% during the review period. Affected by the global economic slowdown, the market declined in 2009 by 3.6%, but recovered in the following years due to improving demand from construction markets such as residential, commercial and institutional. Over the forecast period, Timetric expects the global stone blocks market to record a CAGR of 6.82%, driven by the growing construction industry across the world, the improving global economy and the easing of the debt crisis in Europe over the forecast period.
Global Stone Blocks – Market Opportunity and Environment, Analyses and Forecasts to 2016
Published: October, 2012
Price: US$ 4,800.00
China accounted for 89.2% of the Asia-Pacific stone blocks market in 2011, followed by Japan with 6.5%. The remaining share was distributed among the other six main Asia-Pacific countries. In terms of review-period growth, the market recorded a CAGR of 13.79%, outperforming the global stone blocks market.
Italy, Russia and Spain together accounted for 65.7% of the European Stone Blocks market in 2011. The 2009 global financial crisis and the European debt crisis were detrimental to the construction industry across Europe, and caused the stone blocks market to record a CAGR of -4.12% during the review period. However, over the forecast period it is predicted that demand for stone blocks will improve. It is anticipated that the debt crisis will ease and the construction industry will resume its growth, enabling the stone blocks market to achieve a CAGR of 3.45%.
Brazil accounted for 84.8% of the Latin American stone blocks market in 2011, followed by Colombia and Argentina with shares of 9.2% and 3.7% respectively. The granite category, with a 76.9% share, was the most used category within the Latin American market in 2011. Over the forecast period Timetric expects the Latin American market to achieve a CAGR of 7.40%, as against the 15.24% recorded during the review period.
The Middle East stone blocks market accounted for 1.9% of the global market in 2011. The region, which consists of Saudi Arabia, UAE, Qatar and Bahrain, is the second-smallest market after North America. However, Timetric expects the market to record a CAGR of 5.57%, as against the 6.23% registered during the review period.
The North American stone blocks market accounted for a 0.2% share of the global market. The US was the key market with a 68.5% share. However, impacted by the recession, the overall North American stone blocks market recorded a CAGR of -8.26%, as the demand for stone blocks from the construction industry declined. Over the forecast period, Timetric expects the North American stone blocks market to recover and grow at a CAGR of 3.77%.
More information can be found in the report “Global Stone Blocks – Market Opportunity and Environment, Analyses and Forecasts to 2016” by Timetric.
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