Global Stone Mining And Quarrying Market Is Expected To Grow To $168 Billion By 2021 According To TBRC’s Latest Report

Stone mining and quarrying industry primarily includes the
development of mine sites, mining and quarrying of dimension stone such as
rough blocks or slabs of stone and crushed and broken stone. It also comprises
stone beneficiating activities such as crushing, grinding, washing, screening,
pulverizing, and sizing.

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The stone mining and quarrying
market is expected to grow from $142 billion in 2017 to $168 billion by 2021.
This is due to advancements in the mining industry such as power lasers
increasing the productivity, and continued demand from the construction market,
thereby driving the market.

Stone mining and quarrying market
in The Business Research Company’s report is segmented into Dimension Stone
Mining and Crushed Stone Mining. While the first segment accounts for more than 50% of the market share,
the remaining is attributed to the other segment.

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China was the largest country in
the stone mining and quarrying market in 2017, accounting for more than
one-fourth of the market share, followed by the USA and Japan. The reason why China was the largest
country in the market is the country’s economic and population size and
increased use of precious stones such as marble and granite in buildings, residences
and monuments.

Vulcan Materials was the largest
competitor in the stone mining and quarrying market in 2017, followed by Martin
Marietta Aggregates, Inc. and CEMEX S.A.B. de C.V. Vulcan Materials is
headquartered in Birmingham and is one of the leading supplier of construction
aggregates in the country. Vulcan’s growth strategy aims at geographical
expansion by acquiring companies in similar markets.

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