The marble market is expected to be valued at USD 15.94 billion in 2027 from USD 12.68 billion in 2019, registering a CAGR of 2.8% through the forecast period, according to Emergen Research’s report. Main factors driving the demand include changes in the lifestyle of consumers and marble’s heat- and fire-resistant properties.
Marble can easily be given different shapes with the growing use and availability of explosives, combined with advances in mechanical systems. This helps to groom the overall appearance of applications for end-use. Marble is used for the design of city halls, religious homes, and houses.
The global marble industry, consisting of many small start-ups, medium-sized companies and large conglomerates, is expected to remain in a highly competitive and fragmented environment in the near future. Growing demand for technical innovations and higher diversification in the products offered are predicted to ensure high growth potential for new players entering the market during the forecast period.
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Further key findings from the report suggest:
- Fox Marble Holdings Plc announced in February 2020 that it had signed two new agreements with Egzoni Sh.p.k. to process third-party blocks. Skifteri Sh.p.k. and Fox Holdings for Marble
- The market has been segmented into building & renovation, furniture, decorative infrastructure, statues & monuments, and others, based on application. During the forecast period, the building & construction sub-segment is expected to grow at a rate of 3.1%. Marble has been used for centuries for making historical sculptures. Marble is one of the most robust materials that shows its longevity in wide-ranging changes in the atmosphere. Due to its physical properties, marble is commonly used in the construction of flooring, walls, and columns.
- During the forecast period, North America is expected to dominate the global marble market. The demand in the area has been boosted by various uses of marble in building & construction, decorative infrastructure, and furniture industries. In the near future, the U.S. is projected to lead the market in the region.
- Key players in the market include Hellenic Granite Company, Fox Marble Holdings Plc, Polycor Inc., Asian Granito India Limited, Kangli Stone Group, Hilltop Granites, Classic Marble Company, First Marble & Granite, Temmer Group, and Santucci Group.
For this report, Emergen Research has segmented the global marble market based on application, color, and region:
- Application Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- Building & Construction
- Decorative Infrastructure
- Statues & Monuments
- Color Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- Regional Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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