Stone Mining in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 21231Revenue
$22.6bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
41,079
Businesses
1,056
Wages
$X.Xbn
Stone Mining in the US industry analysis
Stoner miners are highly susceptible to infrastructure investment and general changes in construction activity. Relevant infrastructure investment has swelled in recent years, bolstering stone miner's growth throughout most of the period. The Fixing America's Surface Transportation (FAST) provided funding for highways from 2016 to 2021. A booming residential construction market in 2020 and 2021 bolstered revenue as contractors and homeowners took advantage of low-interest rates to fund projects. Even so, as interest rates spiked amid inflation, this market took a nosedive. Overall, revenue inched upward at a CAGR of 0.1% to $22.6 billion through 2024, including a 4.1% uptick in 2024 alone.
Trends and Insights
- The housing market experienced fluctuations throughout the period. Although low interest rates initially fueled growth during the pandemic, this momentum was curtailed by the uptick in interest rates aimed at addressing inflationary concerns.
- Housing starts bolstered the need for crushed stone amid the pandemic. Crushed limestone and dolomite have benefitted from the recent housing boom.
- The Great Lakes’ abundant mineral deposits and downstream manufacturing markets attract stone miners to the region. This has led to a higher concentration of business locations in this area.
- Stone miners mainly compete based on price. A stone mine’s proximity to downstream customers considerably impacts cost, as stones are expensive to transport.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.1 % over the past five years, to reach an estimated $22.6bn in 2024.
Trends and Insights
Stone miners deal with shake ups in costs
- The aftermath of the pandemic led to supply chain issues causing oil and gas prices to surge. This negatively impacted stone miners' profitability as purchasing and operating heavy machinery became more expensive. Most suppliers passed down these price hikes to miners. Many companies opted to rent during this time to reduce depreciation costs.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Goverment funding is the backbone for growth
- Government funding for highway construction and repairs is set to expand as many of America's roads and highways are outdated and are due for upgrades.
Biggest companies in the Stone Mining in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Vulcan Materials Company | 3,309.6 | 834.7 | 25.2 | |
Martin Marietta Materials, Inc. | 2,592.5 | 655.1 | 25.3 | |
Lafargeholcim | 909.5 | 224.0 | 24.6 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Crushed limestone and dolomite, Crushed granite and Crushed trap rock. Crushed limestone and dolomite is the largest segment of the Stone Mining in the US.
Trends and Insights
Volatile residential construction activity impacts the need for crushed limestone and dolomite
- Crushed limestone is an aggregate in construction materials for driveway gravel, drainage solutions, septic systems, road bases and railroad tracks. Crushed dolomite is used as road base material and as an aggregate in concrete.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Sand & Gravel Mining in the US
Complementors
- Mineral & Phosphate Mining in the US
- Concrete Pipe & Block Manufacturing in the US
- Lime Manufacturing in the US
International industries
- Stone Mining in Canada
- Rock, Limestone and Clay Mining in Australia
- Gravel, Sand & Clay Extraction in the UK
Table of Contents
About this industry
Industry definition
Operators in the Stone Mining industry develop mine sites; mine and quarry dimension stone (i.e. rough blocks or slabs of stone); mine and quarry crushed and broken stone, such as granite and limestone; or beneficiate stone by crushing, grinding, washing, screening, pulverizing and sizing.
What's included in this industry?
Developing the mine site and mining or quarrying crushed and broken limestoneDeveloping the mine site and mining or quarrying crushed and broken graniteBeneficiating (i.e. grinding or pulverizing) granite, limestone and other stone products Mining granite rocks, such as gneiss, syenite and dioriteMining or quarrying bituminous limestone and bituminous sandstoneMining limestone rocks, such as dolomite, cement rock, marl, travertine and calcareous tufaMining and preparing dimension stone (e.g. rough blocks, flagstones, curbing and monumental and memorial stones)Mining and quarrying aggregates (e.g. sand, gravel, slag, crushed limestone, dolomite and sandstone)Mining aggregates for chemical and metallurgical use in glass, paper, paint, pharmaceuticals and cosmeticsCompanies
Vulcan Materials CompanyMartin Marietta Materials, Inc.LafargeholcimPurchase this report to view all 4 major companies in this industry.
Related Terms
DIMENSION STONEAGGREGATEQUARRYCRUSHED STONESAFETEA-LUIndustry Code
NAICS 21231 - Stone Mining in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The housing market experienced fluctuations throughout the period. Although low interest rates initially fueled growth during the pandemic, this momentum was curtailed by the...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Housing starts bolstered the need for crushed stone amid the pandemic. Crushed limestone and dolomite have benefitted from the recent housing boom.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Great Lakes’ abundant mineral deposits and downstream manufacturing markets attract stone miners to the region. This has led to a higher concentration of business locatio...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Stone miners mainly compete based on price. A stone mine’s proximity to downstream customers considerably impacts cost, as stones are expensive to transport.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Only two companies have amassed more than 5.0% of the market. Vulcan and Martin Marietta's have expanded their market share in recent years by acquiring companies across the ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Vulcan Materials Company's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Martin Marietta Materials, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Lafargeholcim's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for Vulcan Materials Company, and factors influencing its performance in the industry
- Description and key data for Martin Marietta Materials, Inc., and factors influencing its performance in the industry
- Description and key data for Lafargeholcim, and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Stone miners must comply with federal, state and local regulations. Considerable funds get allocated to adhere to environmental regulations.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit has sunk amid rising input costs. Surging steel and oil prices increased expenses associated with purchasing and operating heavy machinery.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Stone Mining in the US industry in United States in 2024?
The market size of the Stone Mining in the US industry in United States is $22.6bn in 2024.
How many businesses are there in the Stone Mining in the US industry in 2024?
There are 1,056 businesses in the Stone Mining in the US industry in United States, which has declined at a CAGR of 0.8 % between 2019 and 2024.
Has the Stone Mining in the US industry in United States grown or declined over the past 5 years?
The market size of the Stone Mining in the US industry in United States has been growing at a CAGR of 0.1 % between 2019 and 2024.
What is the forecast growth of the Stone Mining in the US industry in United States over the next 5 years?
Over the next five years, the Stone Mining in the US industry in United States is expected to grow.
What are the biggest companies in the Stone Mining in the US market in United States?
The biggest companies operating in the Stone Mining market in United States are Vulcan Materials Company, Martin Marietta Materials, Inc. and Lafargeholcim
What does the Stone Mining in the US in United States include?
Developing the mine site and mining or quarrying crushed and broken limestone and Developing the mine site and mining or quarrying crushed and broken granite are part of the Stone Mining in the US industry.
Which companies have the highest market share in the Stone Mining in the US in United States?
The company holding the most market share in United States is Vulcan Materials Company.
How competitive is the Stone Mining in the US industry in United States?
The level of competition is high and increasing in the Stone Mining in the US industry in United States.
