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Stone Mining in Canada Industry Data and Analysis
Stone mining companies in Canada rely primarily on nonresidential construction markets and infrastructure development for demand, although some high-quality products like marble and slate have applications in residential construction. Revenue has fluctuated throughout the period but government infrastructure activity has been consistent, providing a steady source of revenue. The Investing in Canada Plan, which started in 2016, has continued to support Stone Mining industry revenue. Nonetheless, rising interest rates in 2022 and 2023 weakened demand from both residential and nonresidential markets, causing revenue to fall from 2022 through 2024. Overall during the current period, revenue has trended downward at a CAGR of 2.5% to reach an estimated $1.4 billion in 2025, including a projected uptick of 0.3% in 2025.
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What's included in this industry analysis
IBISWorld's research coverage on the Stone Mining industry in Canada includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released May 2025.
About this industry
What's this industry report about?
The Stone Mining industry in Canada operates under the NAICS industry code 21231CA. This industry is made up of companies that 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 via crushing, grinding, washing, screening, pulverizing and sizing. Related terms covered in the Stone Mining industry in Canada include aggregate, crushed stone, dimension stone and quarry.
What's included in this industry?
Products and services covered in Stone Mining industry in Canada include Pulverized or crushed limestone, Other limestone and Granite.
What companies are included in this industry?
Companies covered in the Stone Mining industry in Canada include Polycor, Graymont and Granicor.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Stone Mining industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Stone Mining industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Stone Mining industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Stone Mining industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Stone Mining industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Stone Mining industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Stone Mining industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Stone Mining industry in Canada.
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Frequently Asked Questions
What is the market size of the Stone Mining industry in Canada in 2026?
The market size of the Stone Mining industry in Canada is $2.2bn in 2026.
How many businesses are there in the Stone Mining industry in Canada in 2025?
There are 111 businesses in the Stone Mining industry in Canada, which has declined at a CAGR of 0.2 % between 2020 and 2025.
How may import tariffs affect the Stone Mining industry in Canada?
The Stone Mining industry in Canada is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Stone Mining industry in Canada?
The Stone Mining industry in Canada is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Stone Mining industry in Canada grown or declined over the past 5 years?
The market size of the Stone Mining industry in Canada has been declining at a CAGR of 1.3 % between 2020 and 2025.
What are the biggest companies in the Stone Mining industry in Canada?
The biggest companies operating in the Stone Mining industry in Canada are Polycor, Graymont and Granicor
What does the Stone Mining industry in Canada include?
Mining or quarrying limestone, including crushing and pulverizing and Mining or quarrying granite are part of the Stone Mining industry in Canada.
Which companies have the highest market share in the Stone Mining industry in Canada?
The company holding the most market share in the Stone Mining industry in Canada is Polycor.
How competitive is the Stone Mining industry in Canada?
The level of competition is high and steady in the Stone Mining industry in Canada.
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