China Marble Market
China Marble Market (Product: Slabs and Blocks; and Application: Building Decoration, Art & Carvings, Furniture, and Others) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
High Demand from Construction Sector to Boost Market Growth
Natural marble is one of the most extensively used natural stone materials across the world for use in an array of applications, including building decoration, furniture, interior designing, and art & carvings. Although Spain, Italy, and Greece are among the most popular manufacturers of marble over the past decade, China has emerged as a dominant force in the global marble market. The China marble market is thriving on the rapidly expanding construction sector in the country and soaring government emphasis on infrastructure development and urbanization. The China marble market has evolved at a rapid pace over the past couple of decades, owing to advancements in marble manufacturing technologies, the advent of cutting-edge machinery, and the entry of multiple marble suppliers in China.
The China marble market is likely to witness steady growth during the forecast period, due to a host of factors such as diversification of colors, widening applications in various industrial domains, availability of marbles in various styles, etc. Although the China marble market was lagging behind the Italian market in terms of quality for several decades, at present, the quality of Chinese marble is almost at par– another factor that is expected to provide a boost to the China marble market.
The availability of marble in various natural colors, along with favorable properties, including optimal water absorption, is likely to generate considerable interest in China marble during the forecast period. At the back of these factors, along with the ability to mass-produce marble slabs and blocks without compromising on the quality, the China marble market is expected to reach a value of US$ 17.7 Bn market by the end of 2030.
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Chinese Marble Manufacturers to Focus on Product Innovation and New Technologies
Several companies operating in the China marble market are increasingly focusing on product innovation and deploying new technologies to enhance the quality of their products. Apart from capitalizing on the opportunities across the home decoration sector, several market participants are investing considerable resources to improve the performance of porcelain tiles. Moreover, lower cost of marble products in China in comparison with other nations make it an attractive market. Product innovations and continual upgrade of various manufacturing and processing technologies are expected to lay the foundation for the overall growth of the China marble market.
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Some of the most widely used technologies in the China marble market include Concave-convex anti-slip microtechnology, 3D full-body technology, high-temperature crystallization temperature, and intelligent soft polishing technology. Leading players in the market are increasingly focused on curating advanced industrial systems combining technology and art design to gain an advantage in the highly competitive market landscape.
Chinese Tile Sector Likely to Beat Indian Market; High Demand from Rural Areas in China
The China marble market is expected to witness considerable growth in the upcoming decade, owing to the rising consumption of marble tiles across the country as well as in different regions of Asia. The overall consumption of Chinese tiles, particularly in the domestic sector and rural parts of China, has increased at a healthy rate in the past few years and the trend is likely to continue during the forecast period. The China marble market has grown at a rapid pace over the past decade and as per the analysts at the Transparency Market Research, the market growth is largely driven by the low-cost of products in the Chinese market. The Chinese tile sector is anticipated to overtake the Indian tile market in the upcoming months, owing to a host of factors of which, product pricing is expected to have a strong influence.
The ongoing trade war and swelling tensions on the political front between the U.S. and China is a major factor that is likely to hinder the growth of the China marble market. Marble is another stone on which high tariffs have been imposed in the U.S. due to which, the prices of Chinese marble in the U.S. are likely to move in the upward direction due to which, the demand is likely to witness a decline.
Imports to Decline Due to COVID-19 Pandemic, Market Players Focus on Addressing Supply Chain Challenges
The outbreak of the novel coronavirus in the Wuhan province of China, which later on spread to the other regions, was a major factor due to which, the industrial sector across China was brought to a standstill. As industries across China remained shut for a major period in the first quarter of 2020, its impact is being felt across the China marble market. The COVID-19 outbreak has created significant panic across the natural stone sector across the world. Due to the ongoing health crisis, the sale of raw blocks of marble is likely to witness a decline in 2020, as the transportation across the supply-chain remains uncertain due to lockdown and restrictions.
In addition, due to the COVID-19 pandemic, the import of marble from various regions, including Turkey and Italy has declined - a factor that is expected to influence the growth of the global marble market. The slowdown in the Chinese economy is expected to decrease the import of marble in 2020. However, in 2021, the China marble market is anticipated to show signs of recovery, due to the speculated demand from several end-use industries, including construction and art & carvings.
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The China marble market is expected to grow at a steady CAGR of 4.5% during the forecast period. The market growth can be attributed to the surging demand for marble from the construction sector, focus on expanding production capacity, and emphasis on urbanization, among other factors. Several companies are increasingly investing their resources in research and development activities to improve the quality and performance of their products. While trade is likely to remain affected amid the COVID-19 pandemic, the market is expected to hit the path to recovery in the last quarter of 2020.
China Marble Market: Overview
- Marble is a metamorphic rock composed of recrystallized carbonate minerals, most commonly, calcite or dolomite. Beige marble is the most popular type used in China, which is consumed in 50% of the construction works in China.
- China is one of the major producers and consumers of white marble, which is used to manufacture decorative products employed in residential and commercial applications
- China has abundant sources of marble, and the output of marble in China has witnessed significant rise over the past few years. China is one of the major producers of marble and marble products.
- Five provinces in China account for a major share of China’s marble production. The Fujian province leads the market in the country, holding 35% of the market share, followed by the Guangxi Zhuang autonomous region, with 22% of the domestic output.
Key Drivers of China Marble Market
- In China, 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 building decoration application segment holds ~50% of the market share. Furthermore, in the art & carving sector in China, marble is used as a material for sculptures and monuments.
- In the building decoration industry, marble is employed as a facing stone in buildings and for pillars, colonnades, paneling, wainscoting, and floor tiles. For buildings and infrastructures, marble is used in interior and exterior decoration, mostly for floor tiles and countertops. Large-scale construction projects, including airports, public squares, starred hotels, villas, high-end communities, and clubs, use marbles in large quantities.
Major Challenges for China Marble Market
- China has witnessed excessive investments in the construction industry over the past few years, which has led to increased debt on infrastructure and urban development authorities in China. This has resulted in excess capacity in the infrastructure development industry and oversupply in the real estate sector. Hence, the industry is not expected to return to boom in the near future, which may stagnant the demand for marble in China.
- Furthermore, the world is currently witnessing adverse effects of the COVID-19 pandemic. As governments are struggling to control the outbreak, businesses are also taking a hit with fallout from associated disruption. Building and construction projects that are currently under development may be affected by the outbreak in several manners. Supply chains are likely to be disrupted as a result of measures taken to control the outbreak, particularly in China, Italy, and other countries. This is estimated to impact the availability of key materials used in construction, including marble, in the near future. Moreover, measures such as quarantine, self-isolation, and restrictions on transport can have a severe impact on the ability of contractors to complete construction projects in time and within the budget.
Building Decoration Offers Lucrative Opportunities
- 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, and it can be largely used in kitchen countertops, wall cladding, and pavers.
- In the building & construction industry, marble is one of the most extensively used precious stones. White marbles are valued for fine art sculpture, due to their relatively high isotropy and homogeneity, and resistance to shattering. Compared to alternative stones such as limestone, marble possesses a much finer grain. This makes it much easier for the sculptor to render minute details.
Market Players Engage in R&D Activities
- Key players operating in the China marble market include
- Xishi Group Ltd.
- Xiamen Yuanda Stone Co. Ltd
- Xiamen Kungfu Stone Ltd.,
- Xiamen Quality Stone Co. Ltd.
- JSC Stone
- Universal Marble & Granite Group Ltd
- Kangli Stone Group
- Xiamen ForU Import & Export Co., Ltd.
- Quanzhou Fulei Stone Co., Ltd.
China Marble Market – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the China 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 China marble market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the China marble market would expand during the forecast period i.e. from 2020 to 2030.
The report offers intricate dynamics about different aspects of the China marble market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are anticipated to configure growth of the China marble market during the forecast period. It also includes a key indicator assessment that highlights growth prospects for the China marble market and estimates statistics related to growth of the market in terms of value (US$ Mn) and volume (million tons).
This study covers a detailed segmentation of the China marble market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the China marble market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on China Marble Market
The report provides detailed information about the China 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 China marble market, so as to help them design successful strategies and make target-driven decisions.
- Which product and application segments of the China marble market would emerge as major revenue generators during the forecast period?
- How are key market players successfully earning revenues out of advantages of marbles?
- What would be the Y-o-Y growth trend of the China marble market between 2020 and 2030?
- What are the winning imperatives of leading players operating in the China marble market?
- Which application segment is expected to create lucrative opportunities for the China marble market during the forecast period?
- Which are leading companies operating in the China marble market?
Research Methodology – China Marble Market
The research methodology adopted by analysts for compiling the report on the China 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 China 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 China 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 China marble market.
China Marble Market – Segmentation
TMR’s research study assesses the China marble market in terms of product and application. This report presents extensive market dynamics and trends associated with different segments of the market in the country, and how they are influencing growth prospects of the China marble market.
Art & Carvings
Others (including Vases and Lamps)