Paving Stone Market Industry Growth, Size, Trends, Share, Opportunities and Forecast to 2031
WILMINGTON, DE, UNITED STATES, September 17, 2024 /EINPresswire.com/ — Paving materials such as concrete, clay brick, and quarry stones are increasingly popular due to their versatility and range of prices. They are also easily customizable. While the functional attributes of composite paving materials remain crucial in the market, the growth of residential sectors and the expansion of on-road vehicle parks are driving the demand for paving stones. Additionally, the construction industry’s increased use of these materials is likely to enhance market share in the forecast period.
The paving stone market was valued at $40.3 billion in 2021, and is estimated to reach $86.7 billion by 2031, growing at a CAGR of 7.9% from 2022 to 2031.
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Impact Analysis:
However, paving stones do have some drawbacks. Natural stone, for instance, absorbs more moisture than concrete or brick. In winter, this moisture can freeze, leading to cracks and compromising the appearance of the patio. These issues are expected to hinder the growth of the paving stone industry in the near future.
Globally, the expanding road networks and rising population are expected to drive the paving materials market. Furthermore, the increasing demand for smart highways, driven by the high accident rates—about 1.3 million fatalities and 20 to 50 million injuries annually according to the WHO—is creating new opportunities in the paving stone market.
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Key Segments:
The global paving stone market is segmented based on paving material, natural stone pavers, application, end-use, and region.
By paving material, it is segregated into concrete pavers, natural stone pavers, and clay brick pavers. As per natural stone pavers, it is classified into granite, marble, limestone, slate, sandstone, and others.
According to application, it is divided into driveway, walkway, patio, pool decks, garden, and others.
Depending on end-use, it is bifurcated into residential construction and commercial construction. Region wise, the paving stone market analysis across North America, Europe, Asia-Pacific, and LAMEA.
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Top Players:
The key players profiled in the paving stone market report include Thomas Armstrong Group, Marshalls.co.uk, NGM Blocks, Pavestone UK Ltd., Anchor Block Company, ARO Granite Industries Ltd., Unilock, Mumal Marbles Pvt. Ltd., Arvicon International, and Wienerberger.
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