The increasing demand for marbles from the construction and building sector is a prime factor augmenting the growth of the global marble market. Marble is a metamorphic rock made of recrystallized carbonate minerals, with common constituents such as dolomite or calcite. Marble is a very popular natural stone and is used extensively by both the industrial and residential sectors around the world. Marble slabs, tiles, and blocks are notably utilized in the construction of personal and public buildings and decorative paintings gadgets.
Building and Construction Sector holding Largest share owing to Increasing Industrialization
In terms of segmentation by application, the market for marbles is dominated by the building and construction sector. This is likely to continue so in the forecast period as well on account of the rapid pace of industrialization and urbanization and the rising need to construct new buildings or renovate the old and existing ones. The increasing demand for infrastructural development especially in emerging nations is likely to help this segment continue dominating the market in the coming years.
According to a report by Transparency Market Research, the global marble market is expected to reach a value of USD 93.7 billion by the end of the forecast period by exhibiting a CAGR of ~6% between 2020 and 2030.
Infrastructural Development of Emerging Nations to Further Augment Growth of Market
Marble is an exceptionally normal regular stone made out of calcite minerals. Marble quarries are generally accessible across the world. There are immense and great quarries of marble in nations like the US, Italy, Turkey, and Spain, which satisfy the worldwide need for great quality marble for private, mechanical, and business foundations. In every country, there are immense marble quarries that lead to simple accessibility and coordination of marble for additional handling into the eventual outcome. Marble is removed from open-pit mines that reach from little to extremely enormous scope. Marble mining is a capital-concentrated cycle, and because of the accessibility of an enormous number of quarries throughout the planet, the expense of transportation and coordination is limited.
Marbles have higher durability as compared to that other natural stones. This, coupled with the fact that marbles can be easily carved and its demand from the art and craft industry is projected to aid in the expansion of this market during the forecast period. Delivery delays have harmed deals of designers in the marble market during the COVID-19 (Covid) episode. Work on business and private tasks has eased back down since it has gotten trying for clients to obtain materials from abroad. This wonder is acting as a danger to development occupations. Isolate and lockdown limitations in various nations have prompted the retraction of work excursions. Hence, business exercises are encountering a droop during the continuous pandemic, as land engineers regularly purchase building materials, for example, marble and Chinese copper all around the world and not locally.
Geographically, the market is dominated by the Asia Pacific with a total share of 30.7% earned in 2019. This is attributable to the increasing number of construction and renovation activities in the developing nations of Asia Pacific. Besides this, the European market will also gain significant momentum in the coming years on account of the increasing popularity of sculpture art and craft.
Companies operating in the global marble market are indulging in collaborative agreements such as mergers and acquisitions, product launches, and similar strategies to obtain the top position in the market competition. Besides this, players are focusing on geographical expansion to increase their brand presence in the overall market.
The information presented in this report is derived from Transparency Market Research titled, “Marble Market (Product: Tiles or Slabs and Blocks; and Application: Kitchen & Bathroom Countertops, Floors, Bathroom Fittings, Building Decoration, Art & Carvings, Furniture, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030.”
Some of the prominent players of the global marble market include Xiamen Kungfu Stone Ltd., Xishi Group Ltd., SRL, Delta Mining Company, S.A., Xiamen Yuanda Stone Co. Ltd., Emirates Marble, Namco Co., Global Mining Company, Polycor Inc., Levantina Y Asociados De Minerales, and others.
The global marble market is classified based on:
- Tiles or Slabs
- Building Decoration
- Art & Carvings,
- Bathroom Fittings
- Kitchen & Bathroom Countertops
- Others (Lamps and Vases)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with the ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making the right decision in the shortest period. For organizations that require specific but comprehensive information, we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of the right sense of fact-oriented problem-solving methodologies and leveraging existing data repositories.
TMR believes that the unison of solutions for clients-specific problems with the right methodology of research is the key to help enterprises reach the right decision.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC