Stone Processing Market Size Share, Growth, Opportunities & Competitive Analysis and Forecast To 2022 – by Credence Research
According to a new market report published by Credence
Research “Stone Processing Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 -
2022,” the stone processing market was valued at US$ 4.0 Bn in 2014,
and is expected to reach US$ 10.3 Bn by 2022, expanding at a CAGR of 8.6% from
2015 to 2022.
Browse the full Stone Processing
Market for Stone Processing Tools and Adhesives- Growth, Share, Opportunities,
Competitive Analysis, and Forecast 2014 – 2022 report at http://www.credenceresearch.com/report/stone-processing-market
Market Insights
The importance of stone processing
has increased due to the growing demand for stone processing tools and
adhesives in the construction industry. Increasing population has led to growth
in constructional activities globally. This has led to demand for stone
processing tools in the market. Stone processing tools mainly consists of
abrasives, diamond tools, carbide and others. Among them diamond tools have
gained high importance in the market. The factors boosting growth of diamond
tools include wide range of applications in the end-user industries. Other
factors promoting growth of stone processing tools is the super hard nature of
stone which require stone processing tools. Diamond is treated as an
engineering material by scientists and engineers due to its hardness, thermal
conductivity and abrasion resistance. Hence, diamond tools dominate the stone
processing market worldwide.
Growing construction industry is the
major factor boosting growth of global stone processing market globally. The
revival of the construction industry after 2008 has led to high demand for
tools and adhesives. Growing population worldwide has led to increase in the
construction activities. Therefore, high demand is reported for stone
processing tools and adhesives from the construction industry worldwide.
Construction industry has wide range of applications in the stone processing
industry as materials and stones such as crushed stones, gravel, sand, etc. are
used for building highways, buildings and other constructional projects. Strong
demand for modern architectural designs have also led to rising demand for
stone processing tools in the market.
Competitive Insights
On the basis of products and
application, stone processing market is segmented into stone processing tools
and adhesives. Stone processing tools include abrasives, diamond tools, carbide
and others. Among them, diamond tools dominated the global stone processing
tools market worldwide. Other tools such as abrasives, carbide and others are
also anticipated to boost market demand in the near future. Adhesives were
segmented into mastics, sealants and others among which sealants accounted for
major share of global stone processing market. Sealants are used to block the
passage of fluids from the surface or opening between the joints. They are also
used for heat transmission and blocking of sound and dust. Hence, sealants are
used on a large scale in the construction industry. Other adhesives are also
contributing to the growth of global stone processing market and are expected to
increase during the forecast period.
Key Trends
·
High demand from construction
industry
·
Diamond tools dominate the stone
processing market
·
Europe is the fastest growing region
for stone processing market
·
Opportunities from modern
architectural designs
·
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