The global marble market size is expected to USD 15.94 billion in 2027 and register a CAGR of 2.8% during the forecast period. Growth of the marble market is attributed to a steady evolution in consumer preference and lifestyle combined with increasing demand for marble due to its fire and heat-resisting properties.
For over many centuries, marble has been regarded as one of the most elegant and sought-after stones. Marble has remained famous throughout history, and each piece of marble has a distinct and artistic appearance that adds a royal touch to any home. It is in high demand, especially for residential applications as it is used to upgrade houses.
Apart from its attractive appearance, marble has a high level of durability, making it one of the most common natural flooring materials. Moreover, its shatter-resistant properties make it suitable for use in heavy and bulky products. Marble is gaining traction in high-temperate countries due to its excellent heat-insulating properties that will keep the flooring cool throughout the hot summer days. Thus, Asia Pacific is observing tremendous demand for marble as most consumers are preferring marble flooring over traditional cemented flooring.
The global market is highly competitive and has an equal existence of international and local market players. Growing demand for technological advancements and need for variations in the product are expected to open growth opportunities for emerging market players.
Some key highlights in the report:
- The building & construction segment is projected to expand at a CAGR of 3.1% during the forecast period. Marble is one of the commonly used materials in the building and construction sector due to its high durability and high tolerance to constant atmospheric changes. It is used for constructing walls, floors, and columns.
- On the basis of color, the white color segment revenue accounts for largest market share and is expected to dominate with a robust CAGR during the forecast period. White marble is most commonly used in statue and marble monument construction. One of the most popular and beautiful white marble monuments is Taj Mahal situated in India.
- Asia Pacific accounts for the largest market for marbles, especially white marble. Asia Pacific is expected to register fastest revenue CAGR throughout the forecast period owing to rapid urbanization, growth of the building and construction industry, and favorable development schemes. During the forecast period, India and China are expected to contribute to a considerable revenue share.
- Europe is expected to continue dominating over the other regional market during the forecast period. Several countries in this region are focusing on promoting growth of various industries like furniture, buildings & construction, and statues & monuments. Extensive utilization of marble for furniture manufacture is seen in many countries in Europe.
- 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
- Fox Marble Holdings Plc announced in February 2020 that it has signed two new agreements with Egzoni Sh.p.k and Skifteri. p.k Fox Marble Holdings for processing of third-party blocks.
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)
- South Korea
- Rest of APAC
- Rest of LATAM
Middle East & Africa
- Saudi Arabia
- Rest of MEA
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