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.
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