Marble Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030

The global marble market size is expected to reach over US$ 93.5 billion by 2030 expanding at a CAGR of 6.2% during the forecast period 2021 to 2030. Rise in usage of marble in the building & construction sector and increase in application of marble in art & cravings are factors expected to boost the global marble market during the forecast period.

Dynamics

Marble is a metamorphic rock composed of recrystallized carbonate minerals, wherein calcite or dolomite are common constituents. Marble is considered one the highly popular natural stones around the world. Marble slabs, tiles, and blocks are extensively used in construction of private and public buildings and decorative artwork items.

Marble is primarily used as a finishing stone in the building & construction industry. It can be used either in a cladding structure or in supporting columns, flooring, bench-tops, and other decorative applications. Marble is a dimensional stone that can be largely used in kitchen countertops, wall claddings, and pavers.

In comparison to many other natural stones, marble is highly durable and easy to carve. This makes it a preferred option for new buildings as well as renovation projects.

Marble is one of the most used precious stones in the building & construction industry. White marbles are valued for fine art sculptures, due to their relatively high isotropy and homogeneity; and resistance to shattering. Compared to alternative stones such as limestone, marble possesses much finer grains. This makes it easier for the sculptor to render minute details.

In the form of a slab, marble is used for a variety of purposes inside homes. A popular application of marble is fireplace construction. It not just boosts the decor of the living space, but also enhances the value of the property to a large extent.

Currently, the global construction industry holds about 13% share of the global GDP. This share is expected to increase to 15% by 2020. Countries projected to witness significant growth in the construction industry in the near future include China, India, Russia, Brazil, Poland, and the U.S.

Key Driver

• Marble is primarily used in applications such as building decoration, art & carving, furniture, home decoration products, and lamps. The building decoration sector witnesses the maximum consumption of marble. The countertops application segment holds dominant share of the global marble market. Furthermore, marble is used as a material for sculptures and monuments in the art & carving sector.
• In the building decoration industry, marble is employed as a facing stone in buildings and pillars, colonnades, paneling, wainscoting, and floor tiles. Marble is used in interior and exterior decorations, mostly for floor tiles and countertops, in buildings and infrastructure. Large-scale construction projects, including airports, public squares, starred hotels, villas, high-end communities, and clubs use marble in large quantities.

Major Challenges for Marble Market

• Investments in the construction industry have increased significantly across the globe over the past few years. This has led to a rise in debt upon infrastructure and urban development authorities, resulting in excess capacity in the infrastructure development industry and oversupply in the real estate sector. Hence, the industry is not expected to expand significantly in the near future. This is estimated to hamper the demand for marble.
• Currently, the world is facing adverse effects of the COVID-19 pandemic. Governments are struggling to control the outbreak, while businesses are being hit with fallout from the associated disruption. Building & construction projects that are currently under development may be affected by the outbreak. Supply chains are likely to be disrupted as a result of measures taken to control the outbreak. This is estimated to impact the availability of key materials used in construction, including marble, in the near future. Furthermore, measures such as quarantine, self-isolation, and restrictions on transport are anticipated to hamper the ability of contractors to complete construction projects in time and within budget.

Prominent Regions

Asia Pacific dominated the global marble market with 30.5% share in 2020. This trend is anticipated to continue during the forecast period. Increase in new construction and renovation activities in Asia Pacific is boosting the demand for marble in the region. The marble market in Europe is estimated to expand at a healthy CAGR during the forecast period due to growth in the art & craving industry in the region.

Key players operating in the global marble market include

• Levantina y Asociados de Minerales
• S.A.
• Polycor inc.
• Global Mining Company,
• Delta Granite and Marble, Inc.
• NAMCO CO.
• SRL
• EMIRATES MARBLE
• Xishi Group Ltd.
• Xiamen Yuanda Stone Co. Ltd
• Xiamen Kungfu Stone Ltd.

Global Marble Market: Segmentation

Marble Market, by Product

• Tiles or Slabs
• Blocks

Marble Market, by Application

• Kitchen & Bathroom Countertops
• Floors
• Bathroom Fittings
• Building Decoration
• Art & Carvings
• Furniture
• Others (Including Vases and Lamps)

Marble Market, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • U.K.
  • Italy
  • France
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America

Scope of the Report

The latest study collated and published by Vision Research Reports analyzes the historical and present-day scenario of the global marble market in order to accurately gauge its future growth. The study presents detailed information about important drivers, restraints, and trends that are creating a landscape for future growth of the global marble market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global marble market would expand during the forecast period of 2021 to 2030.

The report offers intricate dynamics about different aspects of the global marble market, which aids companies operating in the market in making strategic development decisions. VRR’s study also elaborates on significant changes that are anticipated to configure growth of the global marble market during the forecast period. It also includes a key indicator assessment that highlights growth prospects for the global marble market and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (kilo tons).

This study covers a detailed segmentation of the global marble market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global marble market, wherein various developments, expansions, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered

The report provides detailed information about the global marble market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market in the country. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global marble market, so as to help them design successful strategies and make target-driven decisions.

• Which product and application segments of the global marble market would emerge as major revenue generators during the forecast period?
• How are key market players successfully earning revenues out of advantages of marble?
• What would be the Y-o-Y growth trend of the global marble market between 2020 and 2030?
• What are the winning imperatives of leading players operating in the global marble market?
• Which application segment is expected to create lucrative opportunities for the global marble market during the forecast period?
• Which are leading companies operating in the global marble market?

Research Methodology

The research methodology adopted by analysts for compiling the report on the global marble market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global marble market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on the data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global marble market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global marble market.