According to a research report titled ‘Global Natural stone slab Market Size study, by Application (Residential, Commercial), Product (Granite, Limestone, Travertine, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global natural stone slab market was valued at USD 45.4 billion in 2019, and is estimated to record compound annual growth of 3.5% to accrue USD 59.78 billion by 2027.
 

Research findings state factors such as rising population, coupled with rising investments in construction sector are catalyzing worldwide natural stone slab market growth. Furthermore, the functionality, superior strength as well as durability of stone slabs will continue to increase the product penetration in across the globe.
 

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Citing an instance, LIRA (Leading Indicator of Remodeling Activity) estimates that the annual growth in renovation and repair expenditure will be 4.1 percent during the first quarter of 2021, with gains of up to 1.7 percent by the third quarter, indicating a stronger demand for natural stone slab.
 

Moreover, increased government and private spending on infrastructure, and construction of riverbanks are likely to accelerate global natural stone slab industry expansion in the forthcoming years.
 

For the unversed, stone slabs are large, smooth, and thin stones commonly used for roof construction, covering walls, paving floors, and as headstones. Stone slabs are available in several product types such as limestone, travertine, and granite.
 

Despite the positive business outlook, stringent regulations on mining and high manufacturing costs are anticipated to hamper global natural stone slab market growth during the forecast period 2020-2027.
 

On the regional front, the research report examines the business dynamics in North America, Asia Pacific, Europe, and Latin America. Asia-Pacific is projected to grow at an accelerated rate over the study duration. Factors such as increased disposable income, rapid urbanization, and increasing infrastructure development activities are likely to create opportunities in the regional market.
 

Major players in global natural stone slab market sphere are Temmer Marble, Dimpomar, Aro Granite Industries Ltd., Dermitzakis Bros S.A., Polycor Inc., Margraf S.p.A, Levantina y Asociados de Minerales S.A.U., Topalidis S.A, Mumal Marbles Pvt. Ltd., and Xishi Stone Group.