Stone Processing Tools Market Is Expected to Reach Us$ 10.3 Bn by 2022

Stone Processing Tools Market is Expected to Reach US$ 10.3 Bn by 2022

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$ 4.02 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...