According to market sources, industry analysts expect the phenomenal growth in the natural stone industry to continue. Fueled by a revival in the demand for natural stone in the last decade or so, the industry has seen sharp rises in output production. For the first time in its history, natural stone is everywhere – from public buildings, public works, like roads parks, to airports, and hotels, offices and private homes. This is partly due to increased demand for commercial space and architectural cost efficiency afforded by natural stone, but also, in great measure, due to successful awareness campaigns by the industry.

This high demand is reflected in the increased levels of output production, enhanced using sophisticated quarrying techniques. Advanced fabrication and finishing tools have done their bit to provide high quality products and imports from the world over increase revenues for most operators within the industry.

Today’s stone industry is a far cry from the limited one in existence as recently as 25 years ago. Nowadays, stone from Africa, the Middle East, and Asia compete actively with North American and European stone. Local producers compete with lower-priced stones from countries like China and India, due to their reduced labor costs.

Pushing stone prices down across the board has caused concern among some stone companies, who foresee drastic reductions in their margins, making it inefficient for them to operate their businesses. Most insiders, however, see increased competition as an opportunity to provide better service to their customers, and expand their services across a broader section of community, and in turn, the world. While it is true that increased competition reduces margins, the resulting higher turnover actually increases revenues, allowing the bottom line to remain healthy.

Additionally, increased competition generates innovation. Competition is here to stay. It is a fact of our world. It drives us to invent better, more cost effective methods to counter competition from imports; to discover newer methods, and to combine them with existing ones. Free global trade can benefit the industry.

For example, there is tremendous market potential in Eastern Europe, in countries like Poland, Hungary, Croatia and Slovenia, where local resources do not meet high demand. European and American markets can compete effectively here due their high-end products and impeccable standards of value-added service. But Europe’s demand for stone is in fact higher than its supply, and its increase in production over the last few years does not match world levels. This clears the way, somewhat, for dealers in America to target markets in East Europe and other high-end niche markets in the rest of the world. But the EU is looking at boosting production, while it continues to promote natural stone and develop new standards of testing. It will catch up, sooner or later.

Here in America, the ASTM is actively engaged in providing newer definitions and establishing tests for all types of stone available, including imports. Efforts are underway to establish International testing norms for quality and facilitate end-use. Within the industry, awareness campaigns and new marketing strategies are on the drawing board to compete effectively and globally.

Additionally, advancing technology leads to newer methods of adapting natural stone to more innovative applications. The evolution of natural stone from its ancient rock beds and quarries is closely entwined with humankind’s zest for innovation – embedded in the history of technology. From granite blocks in the 5000-year-old pyramids to industrial vats storing acids and crushed granite in road construction, natural stone has come a long way.

Technology, environmental awareness, competitive pricing, high-end markets overseas, and above all, the beauty and inherent properties of natural stone all bode well for growth of the stone industry. Industry analysts are optimistic about the future – the growth potential is enormous in the next 10- 15 years or so.