Marble, a timeless natural stone, has long been cherished for its elegance and durability. The global marble market is currently witnessing significant growth, driven by the increasing demand from various end-use industries. The marble market in 2020 is estimated at USD 13 billion and is projected to reach USD 16 billion by 2025, at a CAGR of 3.6% from 2020 to 2025. Growth of the construction industry has led leading to high demand for building materials such as marble is anticipated to fuel the growth of marble market. High demand for residential and commercial infrastructure from the developing economies is driving the growth of building & construction segment.
Browse 134 market data tables and 28 figures spread through 140 pages and in-depth TOC on the “Marble Market by Color (White, Black, Yellow, Red, and Others), Application (Building & Construction, Statues & Monuments, Furniture), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) – Global Forecast to 2025”
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The construction sector remains the primary consumer of marble, accounting for a substantial market share. With rapid urbanization and infrastructure development worldwide, the demand for marble in residential and commercial construction projects is soaring. Marble’s aesthetic appeal and versatility make it a preferred choice for flooring, countertops, cladding, and decorative elements.
The interior design industry also plays a vital role in the marble market’s growth. The use of marble in home décor, hotels, restaurants, and office spaces is on the rise, as it adds a touch of luxury and sophistication to any setting. The trend of incorporating marble accents, such as tabletops, fireplace surrounds, and bathroom fixtures, further fuels the market growth.
Moreover, the expanding hospitality and tourism sector contributes to the marble market’s expansion. Luxurious hotels, resorts, and public spaces often utilize marble extensively, creating a visually appealing environment for guests. The aesthetic beauty of marble helps create an ambiance of opulence, attracting discerning travelers and enhancing their overall experience.
In recent years, the emergence of innovative technologies has boosted the marble market. Advanced cutting and polishing techniques enable manufacturers to create intricate designs and patterns, expanding the range of marble applications. Additionally, the availability of a wide variety of marble colors and textures caters to diverse consumer preferences, further driving market growth.
Although the construction and interior design industries dominate the marble market, other sectors are also exploring its potential. Art and sculpture, monuments and memorials, and the automotive industry have started utilizing marble in their respective applications, adding to the overall demand.
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Building & construction segment accounts for the largest share of the marble market
The building & construction segment is estimated to lead the marble market in 2020 in terms of value, due to the rising demand for residential and commercial infrastructure. Marble is widely used building & construction application in flooring, wall, roofing, columns, and exteriors. In addition, marble is among the leading natural stones preferred for construction of residential and commercial buildings. Construction is among the hard hit industries due to COVID-19 pandemic outbreak. However, the building & construction segment is expected to witness growth from second half of 2020 in commercial and residential applications such as hospitals and township apartments.
White segment is estimated to witness fastest growth in the marble market, during the foreast period
Based on color, the white segment is estimated to witness highest growth in the marble market during the forecast period. White marble is highly suitable for structures that require luxurious and aesthetical appeal owing to its wide range of shades, textures, and patterns. Various renowned structures such as the Taj Mahal and the statue of Lincoln were made using very bright white marble. Asia Pacific is the largest consumer of white marble in applications such as building & construction, statues & monuments, and furniture.
Asia Pacific is expected to witness the fastest growth in the marble market during the forecast period
The marble market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, Japan, India, and South Korea are estimated to be the fastest growing markets in the region for marble during the forecast period. China and India were the largest consumers of marbles in the Asia Pacific region in 2019. Outbreak of COVID-19 from China and the impact of coronavirus in Japan, South Korea, Autralia, and India has caused a trivial decrease in the consumption of marbles. However, the consumption of marble is expected to resume from the second half of 2020.
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Marble Market Key Players:
Key market players covered in this report includes Levantina y Asociados de Minerales, S.A. (Spain), Temmer Marble (Turkey), Hellenic Granite Company (Greece), Fox Marble Holdings plc (UK), California Crafted Marble, Inc. (US), Topalidis S.A. (Greece), Dimpomar – Rochas Portuguesas Lda (Portugal), Polycor Inc. (Canada), Asian Granito India Limited (India), NAMCO CO. srl (Italy), Dal-Tile Corporation (US), Kangli Stone Group (China), Hilltop Granites (India), First Marble & Granite (Qatar), Santucci Group (Italy), Classic Marble Company (India), and DELTA Marble, Mining, Construction Import and Export Inc. (Turkey) among others.
Levantina y Asociados de Minerales, S.A. is a global stone company that has accomplished a steady growth by expanding its reach across the globe since its establishment. It manufactures products, such as cream marble, marble, granite, porcelain, tiles, limestone & sandstone, quartzite, travertine, and other custom-made products out of natural stone. The company owns 7 factories (1 in Brazil and 6 in Spain), 2 project centers in Spain, and 20 distribution warehouses through which it has marked its global presence in more than 100 countries. The company also owns 20 stone centers in Spain, the UK, and the US.
Hellenic Granite Company is involved in manufacturing, processing, and trading of decorative stones such as marbles, granites, travertines, and different types of quartz surfaces. The company procures granite raw materials from countries around the world (India, China, Zimbabwe, Brazil, Spain, Portugal, Norway and Finland) and ready-made granite products from India and China. It also imports marble (processed and raw) from the international market.
Temmer Marble has been an active player in the processing and manufacturing of products made from natural stone. The company owns one of the largest quarries in Turkey, which was its first investment. It owns six more quarries across the important marble reserve area in Turkey. The company owns one factory in Afyon, Turkey, which is the third-largest facility of its kind in the world.
