Artificial Marble Market

Artificial Marble Market: Introduction

• The global market for artificial marble is likely to register significant growth due to its durability and quality to withstand wear and tear of everyday use. Artificial marble is more durable than original marble. Higher tensile strength, high abrasion resistance, and less absorption of water are some of the key factors driving the market. Artificial marble is widely used in institutions, offices, and homes to enhance the esthetics. This is projected to drive the overall market. Rise in demand for artificial marble for decorative purposes in hotel, temples, and other buildings is likely to boost the market in the near future. Low cost of artificial marble vis-à-vis original marble also acts as an important factor propelling the market.
• Increase in number of construction enterprises and residential buildings is boosting the global artificial marble market. Luxurious appearance of artificial marble is one of the key factors augmenting the market. Demand for sintered and composite type of artificial marble is expected to increase due to its durability.

Key Drivers and Restraints of Global Artificial Marble Market

• The artificial marble market has developed significantly in the recent years. This can be primarily ascribed to the high performance of artificial marble. Artificial marble plays an important role in addressing several issues associated with tensile strength, low resistance, and water absorption. Rise in usage of artificial marble in the building & construction sector is expected to propel the artificial marble market during the forecast period.
• Increase in demand for artificial marble is expected to create significant opportunities for the architecture industry. Artificial marble is used in flooring, kitchen tops, and bathtubs. Rise in demand for art and architecture is anticipated to boost the demand for artificial marble during the forecast period.

Artificial Marble: Product Type Segment

• In terms of product type, the global artificial marble market can be segmented into polyester artificial marble, cement artificial marble, composite artificial marble, and sintered artificial marble
• The polyester artificial marble segment is expected to account for significant share of the global artificial marble market during the forecast period. It is anticipated to be followed by the composite artificial marble segment.
• The cement artificial marble segment is likely to expand at a rapid pace during the forecast period, due to expansion of the construction industry around the globe

Artificial Marble: Application Segment

• In terms of application, the global artificial marble market can be segmented into flooring, countertops, kitchen tops, wall panels, staircases, tubs & shower stalls, window sills, and others
• The flooring segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the countertops segment.
• The kitchen tops segment is likely to expand at a healthy CAGR during the forecast period, owing to the increase in usage of modified and decorative kitchens in residential buildings

Artificial Marble: End-use Segment

• In terms of end use, the global artificial marble market can be divided into architecture & art, building & construction, and others
• The architecture & art segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the building & construction segment.

Covid-19 Impact on Artificial Marble Market

• On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
• Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
• Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the artificial marble market.

North America to Dominate Artificial Marble Market

• In terms of region, the global artificial marble market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America dominated the artificial marble market in 2020. This trend is anticipated to continue during the forecast period. This can be ascribed to the higher consumption of artificial marble, especially in the U.S. However, the artificial marble market in Asia Pacific is anticipated to expand at a rapid pace owing to the growth in the building & construction industry in emerging countries such as China and India.

Key Manufacturers Operating in Global Artificial Marble Market

The global artificial marble market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global artificial marble market include:

• Krystal Stone Exports Ltd.
• Aristech Surfaces LLC
• Hanex Solid Surfaces
• OWELL
• LG Hausys Ltd
• Lotte Advanced Materials Co., Ltd
• Samsung Stone Industry Co., Ltd.
• Jordan Marble and Granite
• Marmil SA
• Shanghai Meyate Group

Global Artificial Marble Market: Research Scope

Global Artificial Marble Market, by Product Type

• Polyester Artificial Marble
• Cement Artificial Marble
• Composite Artificial Marble
• Sintered Artificial Marble

Global Artificial Marble Market, by Application

• Flooring
• Countertops
• Kitchen Tops
• Wall Panels
• Staircases
• Tubs & Shower Stalls
• Window Sills 
• Others

Global Artificial Marble Market, by End-use

• Architecture & Art
• Building & Construction
• Others

Global Artificial Marble Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa