Natural Stones & Marble Market: Overview

Natural stone is one of the luxurious materials available for architecture and interior design. Marble is a metamorphic rock composed of recrystallized carbonate minerals such as calcite or dolomite. It is commonly used for sculpture and as a building material. Marble finds application in many industries due to its high compressive strength. Natural stones material possess superior esthetic, decorative, and hydraulic binding properties. Marble are extensively utilized in building and construction activities.

Marble possess reflects light. This helps in improving the esthetics and reducing the cost of energy. Skilled labor are required in quarries for the excavation of natural stones. High cost of excavation of marble and cracking of natural stones and marble are major restraints of the natural stones and marble market. Companies operating in the market are developing and launching advanced technologies to reduce the cost of extracting marble and natural stones.

Natural Stones & Marble Market: Key Segments

The natural stones and marble market can be classified based on its type, end-user, and region. In terms of type, the market can be divided into sandstone, limestone, slate, quartzite, and others. Marbles are segmented into black, red, brown, pink, yellow, green, and others. Based on end-user, the natural stones and marble market can be segmented into residential, industrial, and commercial. Natural stones and marble are widely used in infrastructure and residential construction.

Natural Stones & Marble Market: Regional Outlook

In terms of region, the global natural stones and marble market can be divided into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. Demand for natural stones and marble is high in Asia Pacific, especially in countries such as India, China, Japan, and Australia, due to rapid industrialization and urbanization in the region. The market in China is projected to expand at a substantial pace owing to its sheer size and boom in the construction industry, which uses natural stones and marble for various construction purposes. India is amongst the largest producer of raw stone material, with superior quality, low prices, and the most advanced technology for quarrying and processing of stone. Federation of Indian Granite and Stone Industry (FIGSI) has been working since 1983 for the progress and scientific development of marble. Countries in Europe, such as France, Germany, and Italy are strongly relying on natural stones and marble for the construction and beautification of infrastructure. North America is the major market for the demand of natural stones and marble due to the U.S. government’s policy to improve its infrastructure plans. Demand for natural stones and marble is estimated to rise in countries, such as Mexico and Brazil, in Latin America due rapid urbanization. South Africa is anticipated to create lucrative opportunities for the natural stones and marble market during the forecast period. According to the Government of Turkey, more than 30% of the world's marble reserves are in Turkey. The country is expected to create lucrative opportunities for the natural stones and marble market.

Natural Stones & Marble Market: Key Players

Key players operating in the natural stones and marble market include Global Marble Manufacturing Co. LLC., Asian Granito India Limited, Hilltop Granites, Xiamen Boshi Stone Co., Ltd, and Duracite Inc. These companies engage in R&D activities to develop advanced products to cater to the growing demand for natural stones and marble across the globe.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Natural Stones Marble Market

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