Cut Stone & Stone Product Manufacturers

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 1,980 stone products manufacturers in the US cut, shape and finish granite, marble, limestone, slate, and other types of stone for building projects and other uses. Firms may also work with composites, such as engineered stone or solid surface products. Applications for cut stone products include countertops, floors, and walls. Stone fabricators may have in-house staff dedicated to installation, rely on subcontractors, or use a combination.

Competition from Alternatives

Natural and manufactured stone competes with a variety of other materials, depending on the application.

Dependence on Imports

Stone fabricators are highly dependent on foreign suppliers for dimensional stone, with imports accounting for 82% of the US market, according to the US Geological Survey.

Industry size & Structure
Industry Forecast
Cut Stone & Stone Product Manufacturers Industry Growth
Source: Vertical IQ and Inforum

Recent Developments

Apr 21, 2024 - Producer Prices Jump
  • Producer prices for cut stone and stone product manufacturers jumped 11.6% in January compared to a year ago, extending a steep rise that kicked off in mid-2021, according to data from the US Bureau of Labor Statistics. Employment by other nonmetallic mineral products manufacturers grew 3.5% in January year over year, while average wages rose by nearly a dollar to $25.82 per hour, per the BLS.
  • According to newly released Census Bureau figures, US capital expenditures for robotic equipment totaled $12,960 million (not statistically different than 2021) and accounted for 1.1% of total equipment expenditures in 2022. The manufacturing sector was the largest investor, accounting for more than half (56.2%) of all robotic equipment expenditures – nearly $7.3 billion that year. Amid a stubborn labor shortage, manufacturers rely increasingly on automation, including robots, for some tasks to achieve greater productivity. Robots are well suited for performing repetitive tasks such as polishing and sanding and tasks that may pose a danger to humans.
  • US imports of cut stone and stone products fell by approximately 17% in 2023 compared to the prior year – from roughly $4.8 billion to $4.0 billion, according to US International Trade Commission (USITC) data. India, Brazil, and Italy were the top three suppliers of cut stone and stone products measured by customs value, per the USITC. India, which overtook Brazil as the top importer of stone to the US in 2022, is a growing supplier of granite building stone to the US.
  • California’s workplace safety board has approved an emergency temporary standard for respirable crystalline silica to protect workers from silicosis, according to California’s Department of Industrial Relations (DIR). The standard took effect on December 29, 2023. Cal/OSHA proposed the emergency temporary standard to protect workers in the stone fabrication industry from silicosis – an incurable, progressive disease that causes serious and fatal health effects. The workers most at risk are those who cut artificial stone countertops. The California Department of Public Health has identified 95 cases of workers developing silicosis since 2019, 10 of whom have died from the disease. Under the emergency temporary standard, employers are required to use wet methods without exception, properly handle all waste materials, monitor air to confirm respirable crystalline silica levels are below the action level, and use a full-face, tight-fitting, powered air-purifying respirator (PAPR), or equally protective alternative, among other actions.
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