he research study conducted by Report Ocean on the “ Paving Stone Market” spans over 100+ pages and delves into various facets of this market. It analyses the business strategies adopted by emerging industry players, examines the geographical scope, dissects market segments, evaluates the product landscape, and investigates price and cost structures. This research report facilitates market segmentation based on the latest Market trends, geographical market, and technological advancements. Each section of the report is meticulously prepared to scrutinize key aspects of the market. Moreover, it includes a detailed analysis of current applications, comparing them while focusing on opportunities, threats, and conducting a competitive analysis of major companies.
Global Paving Stone Market is valued at approximately USD 43.48 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.9% over the forecast period 2023-2030. Paving stones are frequently used to build patios, driveway surfaces, and walkways. Numerous shapes, such as squares, rectangles, and diamonds, are available for pavers. Paving stones offer a simpler solution due to their standardized sizes and manufactured nature. Pavers stones is used inside the home, outside, and around patios. Quick installation, great durability, and minimal maintenance are the factors propelling the worldwide paving stones market. Paving stone is a common substitute for asphalt or concrete flooring since it enhances the aesthetic of any property. The rise of the paving stone market has been driven by the combined need for construction bricks made of clay and concrete as well as emerging nations are experiencing more traffic congestion.
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The rapid growth of the construction industry is associated with the global market growth. According to Statista, in 2021, the global construction market was estimated to be worth around USD 7.3 trillion, which is projected to grow and reach to nearly USD 14.4 trillion by 2030. .Due to paving materials’ advantageous qualities, particularly for applications such as non-residential and residential construction, the global market for paving materials is predicted to expand quickly. The demand for paving stones is anticipated to increase as a result of the growing number of vehicles on the road and the increasing need for new road building. However, , the market expansion is anticipated to slow down due to thecostly initial expenditures and paving stone-related environmental concerns, during the projected period 2023-2030
The key regions considered for the Global Paving Stone Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to a rapid increase in population, and the presence of the largest markets in the region such as India, Indonesia, and China. Furthermore, the construction industry in the Asia Pacific is witnessing strong growth. This is expected to drive the demand for paving materials in the Asia Pacific during the forecast period 2023-2030. Europe is expected to grow significantly over the forecast period. The demand for paving stones is anticipated to increase in the region as a result of the growing number of infrastructural development projects and the increasing need for new road building
Major market players included in this report are:
Thomas Armstrong Group
Marshalls plc
NGM Blocks
Pavestone UK Ltd
ARO Granite Industries Ltd.
Polycor Inc.
Mumal Marbles Pvt. Ltd.
Oaks Concrete ProductsArvicon International
Hanover Architectural ProductsRecent Developments in the Market:
In February 2021, Cemex unveiled the launch of Viabase, an engineered asphalt concrete. According to the business, the product is particularly suited for use on roads in a housing society, where it would be exposed to construction traffic before being overlaid when residences are finished.
In June 2021, American company Angel Brother Enterprises, which specialises in asphalt paving and infrastructure solutions, was acquired by CRH. Additionally, for a total of USD 0.7 Bn, CRH completed seven purchases in the United States and Canada.
In November 2021, In the spring of 2022, Techo-Bloc Inc. announced it would open a new hardscape manufacturing facility in Ayr, Ontario, Canada. The business specialises in the design and manufacture of hardscaping items such as masonry stones, patio slabs, retaining wall systems, and pavers.
Global Paving Stone Market Report Scope:
Historical Data: 2020 – 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Paving Material, Application, End Use, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Paving Material:
Concrete Pavers
Natural Stone Pavers
Clay Brick Pavers
By Application:
Driveway
Walkway
Patio
Pool Decks
Garden
Others
By End Use:
Residential Construction
Commercial Construction
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Key Questions Answered in the Market Report:
• How did the COVID-19 pandemic have an impact on the adoption of via a range of pharmaceutical and existence sciences companies?
• What is the outlook for the affect market all through the forecast length 2023-2032?
• What are the key developments influencing the have an impact on market? How will they have an impact on the market in short-, mid-, and long-term duration?
• What is the give up person appreciation toward?
• What are the key elements impacting the have an effect on market? What will be there have an impact on in short-, mid-, and long-term duration?
• What are the key possibilities areas in the influence market? What is their workable in short-, mid-, and long-term duration?
• What are the key techniques adopted via groups in the have an effect on market?
• What are the key utility areas of the influence market? Which utility is predicted to keep the very best increase attainable all through the forecast duration 2023-2033?
• What is the favoured deployment mannequin for the impact? What is the boom conceivable of quite a number deployment fashions existing in the market?
• Who are the key cease customers of pharmaceutical quality? What is their respective share in the affect market?
• Which regional market is predicted to maintain the easiest boom possible in the have an impact on market at some stage in the forecast length 2023-2032?
• Which are the key gamers in the have an impact on market?
Growth Hampering Factors in the Market:
- Environmental regulations: Stricter environmental regulations on the production and use of fossil fuels can limit the availability and use of traditional market.
- Safety concerns: Safety concerns regarding the storage and transportation of can limit their use.
- Supply chain disruptions: Disruptions in the global supply chain due to natural disasters, pandemics, or other factors can impact the availability and cost of market.
- Security concerns: Security concerns regarding the transportation and storage of market can limit their use and availability.
- Technological obsolescence: Advances in technology can make existing systems obsolete, leading to reduced demand.
- Competition from alternative fuels: The development of alternative fuels such as biofuels and hydrogen-based fuels can compete with traditional market.
- Volatility in oil prices: Fluctuations in oil prices can affect the cost of market, making it difficult for industry players to predict and plan for costs.
- Economic downturns: Economic downturns can result in reduced demand for air travel and air cargo transportation, leading to a reduction in demand for market.
- Geopolitical tensions: Political instability and tensions between nations can impact the global supply chain for market, leading to supply disruptions and price fluctuations.
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