New York, NY (PRWEB) June 27, 2014
The Stone Mining industry in Canada provides the country with the materials to build infrastructure, buildings 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 are crushed and transported for use in downstream construction and manufacturing markets. Crushed stone is 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.
Industry revenue is expected to decline at an annualized rate in the five years to 2014, including growth in 2014. The industry largely avoided the negative impacts of the recession, and the industry's revenue has been relatively steady since the downturn. Furthermore, according to IBISWorld Industry Analyst James Crompton, “industry exports have performed well, growing at an annualized rate in the past five years.” IBISWorld anticipates the industry will continue to perform moderately well in the next five years, “mainly driven by additional construction spending by downstream markets,” says Crompton. In the five years to 2014, the residential and nonresidential construction markets have bolstered the industry's performance, but road and highway construction, the largest market for industry products, have not performed as strongly.
The Stone Mining industry has a low level of market share concentration. In the five years to 2019, IBISWorld estimates industry revenue to increase at an annualized rate. Industry performance will likely be bolstered by continued residential and nonresidential construction, which are projected to increase in the next five years. Furthermore, government expenditure is expected to increase over the period. As the government continues investment into infrastructure projects, demand for stone products will likely benefit from sustained demand. Industry profitability is also expected to increase marginally in the five years to 2019, as operators continue to streamline their operations and use more advanced technology. Trade in the industry is also forecast to increase moderately in the next five years.
For more information, visit IBISWorld’s Stone Mining in Canada industry report page.
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IBISWorld industry Report Key Topics
The Stone Mining industry mines or quarries dimension stone, rough blocks or slabs of stone and crushed and broken stone.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.