According to a recent Emergen Research study, the global marble market will be worth USD 15.94 billion by 2027. The key factors driving the market include a shift in consumer lifestyle and marble’s heat and fire resistance. With the increased use and availability of explosives, as well as advancements in mechanical systems, marble can be easily shaped into a variety of shapes. This contributes to the overall appearance of end-use applications. Marble is now used to construct city halls, religious homes, and other structures.
The marble market has been slightly impacted by the COVID-19 outbreak because the majority of marble quarries and production units are located in coronavirus-affected countries. In addition, major marble manufacturers have their headquarters and primary subsidiaries in the impacted countries. The disruption caused by the COVID-19 outbreak has impacted the marble market’s supply chain due to low demand from the construction industry. The temporary halt in construction activities in many countries in the first half of 2020 has slowed the operation of the marble market. However, in response to the rapid demand from emerging economies such as China and India, marble manufacturers are offering their products for residential and commercial infrastructure development.
The marble market is highly fragmented, with even startups looking for value-add opportunities in the market landscape. Marble Innovation, a new marble contractor in Paola, Malta, is investing in environmentally friendly marble manufacturing machinery. Companies in the marble industry are investing in cutting-edge machinery that uses CNC (Computer Numerical Control). They are expanding its manufacturing capacity to produce facades, staircases, kitchen countertops, and shower trays, among other things. Manufacturers work with local distributors to expand their business through exports to hundreds of countries.
Further key findings from the report suggest:
Fox Marble Holdings Plc announced in February 2020 that it had signed two new agreements for the processing of third-party blocks with Egzoni Sh.p.k. and Skifteri Sh.p.k. Fox Marble Holdings Inc.
The market has been segmented based on application into building & construction, furniture, decorative infrastructure, statues & monuments, and others. During the forecast period, the building and construction segment is expected to grow at a 3.1% annual rate. For centuries, marble has been used to create historic sculptures. Marble is one of the most durable materials, as evidenced by its resistance to wide-ranging atmospheric changes. Because of its physical properties, marble is widely used in the construction of flooring, walls, and columns.
During the forecast period, North America is expected to dominate the global marble market. Marble’s various applications in the building and construction, decorative infrastructure, and furniture industries have boosted the region’s market. Shortly, the United States is expected to lead the regional market.
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 are among the market’s key players.
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
- Furniture
- Decorative Infrastructure
- Statues & Monuments
- Others
Color Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- Black
- White
- Green
- Yellow
- Others
Regional Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- North America
- the U.S.
- Canada
- Europe
- Russia
- the U.K.
- Germany
- France
- BENELUX
- the Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- Rest of MEA
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