2014-02-25 00:46:05 - Stone Mining in the US - Industry Market Research Report - a new market research report on companiesandmarkets.com
The United States stone mining market is firmly cemented in the US economy, producing materials for constructing American highways and homes. The industry mines a wide variety of rock, including granite, limestone, sandstone, basalt, trap rock, pumice and talc. The bulk of these rocks is crushed and transported for use in downstream construction and manufacturing markets. Crushed stone is principally used as an aggregate in foundations for infrastructure and buildings or as road base. Crushed stone is also an input into cement, concrete products and personal consumer goods.
The dimension stone produced by this industry includes high-quality cut and processed stone products, such as marble and slate, which are used in building applications like kitchen countertops and pavers.
Total US stone production
is expected to amount to 1.27 billion metric tons in 2013, having fallen sharply over the past few years from 1.45 billion metric tons in 2008. The Stone Mining industry accounts for about 90.0% of the volume of domestic stone production. The remaining 10.0% is produced by sand and gravel aggregate producers, road construction companies and firms operating in the nonmetallic mineral product industries (e.g. lime or cement manufacturing).
Over the five years to 2013, industry revenue has grown marginally at an estimated annualized rate of 0.3%, reflecting the negative trends in downstream construction markets. The dramatic slump in the housing market since 2007 and the Great Recession significantly dampened demand for stone products. In 2009, revenue plunged 16.1% as most of the industry´s major markets cut demand. Infrastructure construction, however, was not hit as hard as housing and commercial construction, making it even more dominant as the industry´s largest major market. Following mostly negative performance since the recession, total industry revenue is expected to climb 6.5% to $15.1 billion in 2013 on the back of reviving downstream construction demand.
Over the five years to 2018, industry revenue is forecast to climb at an average yearly rate of 5.3% to $19.4 billion. This growth is expected to come from demand for commercial and residential construction and, to a lesser extent, from road, street and highway construction.
However, slow anticipated growth in the overall US economy and an increased focus by governments to reduce deficits could hinder demand from infrastructure construction.
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