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Stone Cutting, Shaping & Finishing in Latvia - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

LV-C2396 March 2024 Factsheet

Revenue

€6.9m

2019-2024 4.6 %
2024-2029 X.X %

Employees

289

2019-2024 2.7 %
2024-2029 X.X %

Businesses

162

2019-2024 1.8 %
2024-2029 X.X %

Wages

€X.Xm

2019-2024 X.X %
2024-2029 X.X %

Stone Cutting, Shaping & Finishing in Latvia market size outlook

Total value and annual change from from 2014-2029. Includes 5-year outlook.

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About Factsheets

Industry Statistics and Rankings

How does this industry perform in Latvia compared to Europe?

Country Benchmarking

Industry Data Latvia

Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.

Revenue
#36 In Europe
Business
#28 In Europe
Employees
#32 In Europe
Wages
#36 In Europe

View industry report for Europe

Demand for stone cutting, shaping and finishing is largely contingent on downstream construction markets, most notably residential construction. However, economic headwinds have plagued the industry in recent years, including the COVID-19 outbreak, fierce supply chain disruptions, a rising base rate environment and spiralling inflation. Industry revenue is projected to slump at a compound annual rate of 4.9% over the five years through 2024, including an estimated dip of 2.4% in 2024, when the average industry profit margin is forecast to reach 14.9%.

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Enterprises
Number of businesses in 2024

Biggest companies in the Stone Cutting, Shaping & Finishing in Latvia

Company
Market Share (%)
2024
Revenue (€m)
2024
Profit (€m)
2024
Profit Margin (%)
2024
Cosentino SA
2,004.6
299.0
14.9
Imerys SA
4,454.5
458.1
10.3
Mohawk Industries Inc
11,932.0
271.2
2.3

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Top Questions Answered in this Report

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What is the market size of the Stone Cutting, Shaping & Finishing industry in Latvia in 2024?

The market size of the Stone Cutting, Shaping & Finishing industry in Latvia is €6.9m in 2024. 

How many businesses are there in the Stone Cutting, Shaping & Finishing in Latvia industry in 2024?

There are 162 businesses in the Stone Cutting, Shaping & Finishing industry in Latvia, which has grown at a CAGR of 1.8 % between 2019 and 2024.

Has the Stone Cutting, Shaping & Finishing industry in Latvia grown or declined over the past 5 years?

The market size of the Stone Cutting, Shaping & Finishing industry in Latvia has been declining at a CAGR of 1.8 % between 2019 and 2024. 

What is the forecast growth of the Stone Cutting, Shaping & Finishing industry in Latvia over the next 5 years?

Over the next five years, the Stone Cutting, Shaping & Finishing industry in Latvia is expected to decline.

What are the biggest companies in the Stone Cutting, Shaping & Finishing market in Latvia?

The biggest companies operating in the Stone Cutting, Shaping & Finishing market in Latvia are Cosentino SA, Imerys SA and Mohawk Industries Inc

What does the Stone Cutting, Shaping & Finishing in Latvia include?

Worktops and other household interiors and Paving slabs, setts, kerbstones and flagstones are part of the Stone Cutting, Shaping & Finishing industry.

Which companies have the highest market share in the Stone Cutting, Shaping & Finishing in Latvia?

The company holding the most market share in Latvia is Cosentino SA.

How competitive is the Stone Cutting, Shaping & Finishing industry in Latvia?

The level of competition is moderate and increasing in the Stone Cutting, Shaping & Finishing industry in Latvia.

Related Industries

This industry is covered in 37 countries

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Table of Contents

About this industry

Industry definition

Firms in this industry cut, shape and finish rough-hewn stone used in construction and building, cemeteries, on the road like paving slabs and flagstones; and roofing. The industry doesn’t include the production of rough-cut stone, nor the production of abrasive stones.

Related Terms

KERBSTONE FLAGSTONE STONE CLADDING

What's included in this industry?

Worktops and other household interiorsPaving slabs, setts, kerbstones and flagstonesStructural building stoneDecorative stone claddingRoofing

Companies

Cosentino SAImerys SAMohawk Industries Inc

Industry Code

ISIC 2006

2396 - Cutting, shaping and finishing of stone in Latvia

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Performance

Revenue Highlights

Trends
  • Revenue
  • 2024 Revenue CAGR
  • Revenue Volatility

Employment Highlights

Trends
  • Employees
  • Employees per Business
  • Revenue per Employee

Business Highlights

Trends
  • Businesses
  • Employees per Business
  • Revenue per Business

Profit Highlights

Trends
  • Total Profit
  • Profit Margin
  • Profit per Business

Current Performance

Charts
  • Revenue
  • Employees
  • Business
  • Profit
Analysis

What's driving current industry performance in the Stone Cutting, Shaping & Finishing in Latvia industry?


Outlook

Analysis

What's driving the Stone Cutting, Shaping & Finishing in Latvia industry outlook?


Volatility

Analysis

What influences volatility in the Stone Cutting, Shaping & Finishing in Latvia industry?

Charts
  • Industry Volatility vs. Revenue Growth Matrix

Life Cycle

Analysis

What determines the industry life cycle stage in the Stone Cutting, Shaping & Finishing in Latvia industry?

Charts
  • Industry Life Cycle Matrix

Products and Markets

Highlights

Trends
  • Largest Market
  • Product Innovation

Key Takeaways

A growing shift towards sustainability threatens demand for structural building stone. Buyers are opting for materials with better energy retention characteristics, like glass.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Stone Cutting, Shaping & Finishing in Latvia industry's products and services performing?

Analysis

What are innovations in the Stone Cutting, Shaping & Finishing in Latvia industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Stone Cutting, Shaping & Finishing in Latvia industry?


International Trade

Highlights

  • Total Imports into Latvia
  • Total Exports into Latvia
Heat maps
  • Industry Concentration of Imports by Country
  • Industry Concentration of Exports by Country
Data Tables

Value and annual change (%) included

  • Number of Imports and Exports by European Country (2024)

Competitive Forces

Highlights

Trends
  • Concentration
  • Competition
  • Barriers to Entry
  • Substitutes
  • Buyer Power
  • Supplier Power

Key Takeaways

The majority of stone cutters, shapers and finishers operate on a local basis, as uncut stone is heavy and tricky to transport. This means they are typically located close to local quarries.

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Supply Chain

Charts

Buyer and supply industries

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Establishments by Region (2024)
Data Tables
  • Number of Establishments by Region (2024)
Charts
  • Share of Establishments vs. Population of Each Region
Analysis

What regions are businesses in the Stone Cutting, Shaping & Finishing in Latvia located?

Companies

Data Tables

Top 10 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit margin (2024)

External Environment

Highlights

Trends
  • Regulation & Policy
  • Assistance

Key Takeaways

Regulation is light in the industry. It mainly pertains to vertically integrated stonecutters regarding mineral extraction, sustainable development and environmental protection.

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Stone Cutting, Shaping & Finishing in Latvia industry?

Financial Benchmarks

Highlights

Trends
  • Profit Margin
  • Average Wage
  • Largest Cost

Key Takeaways

Inflationary pressures weigh on profitability. Stone cutters have contended with severe supply chain disruptions in recent years, ratcheting up purchase costs.

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Cost Structure

Charts
  • Share of Economy vs. Investment Matrix
  • Industry Cost Structure Benchmarks:
    • Marketing
    • Depreciation
    • Profit
    • Purchases
    • Wages
    • Rent
    • Utilities
    • Other
Analysis

What trends impact cost in the Stone Cutting, Shaping & Finishing in Latvia industry?


Key Ratios

Data tables
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)
  • Revenue per Employee (2014-2029)
  • Wages/Revenue (2014-2029)
  • Employees per Establishment (2014-2029)
  • Average Wage (2014-2029)

Country Benchmarks

European Leaders & Laggards

Data Tables

Top and boottom five countries listed for each:

  • Revenue Growth (2024)
  • Business Growth (2024)
  • Job Growth (2024)

European Country Performance

Data Tables

Rankings available for 37 countries. Statistics ranked include:

  • IVA/Revenue (2024)
  • Imports/Demand (2024)
  • Exports/Revenue (2024)
  • Revenue per Employee (2024)
  • Wages/Revenue (2024)
  • Employees per Establishment (2024)
  • Average Wage (2024)

Structural Comparison

Data Tables

Trends in 37 countries benchmarked against trends in Europe

  • Concentration
  • Competition
  • Barriers to Entry
  • Buyer Power
  • Supplier Power
  • Volatility
  • Capital Intensity
  • Innovation
  • Life Cycle

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

Where does IBISWorld source its data?

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

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.

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