Impact of COVID-19 on the Global Construction Stone Market
The COVID-19 pandemic has spread worldwide and has impacted the growth of the global construction stone market considerably. Government authorities have imposed lockdowns, affecting most of the global industrial players and forcing people to stay within their homes, which, in turn, has reduced the physical contact among people. Most companies have allowed employees to work remotely from their homes to ensure business continuity during the COVID-19 pandemic, which is expected to hamper the growth of the global construction stone market over the forecast period. The restrictions imposed on construction activities to comply with the social distancing norms are likely to hamper the growth of the construction industry, which, in turn, is expected to limit the growth of the Global Construction Stone Market.
Operations in the construction sector have been interrupted due to the COVID-19 crisis. The shift in consumer preference towards essential products is likely to influence the global construction stone market over the projected timeframe. Furthermore, the COVID-19 outbreak has resulted in the sealing of international borders, which has caused a severe decline in the global demand for construction materials and related products. Countries worldwide have enforced restrictions on travel. The market is also expected to be affected due to the decrease in the use of construction stone and other materials in the construction sector. Moreover, the restrictions on public gatherings and travel bans in several countries are expected to hinder the growth of the global construction stone market over the forecast period.
Construction stone is widely used in construction projects as it provides provide high strength and durability to the structures. The increased focus on social distancing and personal care is likely to affect the demand for construction-related products, including construction stone over the projected timeframe. According to the MRFR analysis, the COVID-19 pandemic has affected the demand for construction stone severely, and the market is expected to gain traction in the Q4 of 2020.