The increase in luxurious households and attractive apartments is providing various opportunities for the growth of the global marble market.
The global Marble market is anticipated to increase at a 5.5% CAGR to reach value USD 28.4 Bn. in 2029
Covid-19 Impact & Market Status
COVID-19 impacted the global marble market by interrupting transportation and manufacturing services. Due to lockdown, many companies had to stop their work because labors can’t move or locate to different places and there was a restriction to transportation. All these restrictions were imposed at the same time that made various companies pause their work and wait till the situation was recovered. The marble market was one of the affected markets that had to face a downward trend. This caused various laborers to lose their jobs and increased unemployment.
After the lockdown was over, things began to fall at their place and the marble market started growing again. To recover from the loss, various companies tried to shift to new technologies to manufacture more marble within a short duration.
White marble is in high demand for the construction of buildings and the interior of art galleries.
Due to its rich texture and shiny appearance, white marble has been one of the highly demanded materials for interior design and carvings in art galleries. This makes the aesthetics of these galleries and the interior of apartments more appealing and modern. Hence, many companies prefer their base and ceiling to be made up of marble, mostly white marble. White marble is rich in strength, texture, and glare making it a highly preferred choice for decorations and wall designing.
Many developed and developing countries are expanding their marble market by improving production and transportation services.
The cost of manufacturing synthetic marble is very high, hence, various potential companies are trying to look for alternative tools and techniques that would lower this cost of construction and transportation. Once this cost gets lowered, the marble market will expand exponentially because it has all the required features of strength, appealing appearance, etc. Lowering the major cost factor that is a restraint to the growth of the marble market will enable various potential companies to increase their market value.
The abundance availability and easy processing mechanism are the main driving factors of the global marble market.
Marble is one of the widely used input materials for the decoration of buildings, apartments, showrooms, and much more. It provides appealing aesthetics to the interior of the buildings that help in attracting more clients. Apart from this, it has wide applications ranging from its usage as floor tiles, ceiling material to decorative statues and monuments. Marble was always considered as one of the precious materials that have the power to provide a dazzling look to the exterior and interior of any building. It is widely used in the interiors of Porsche buildings that consider marble as the way to represent their luxurious lifestyle.
The Compound Annual Growth Rate (CAGR) of the global marble market is expected to be 6.32% with increased market size of USD 59.92 Billion.
Apart from being appealing, marble has the strength to improve the durability of the structure of the building in which it is used. It enhances the looks and strength of the building making its base stronger so that it can sustain heavy load and stress. The potential building industries and office construction agents are using marbles as their base material adieu to its high strength, durability, erosion resistance capacity, and various other remarkable features that make it stand out from other materials.
The marble market of various developing and developed countries is increasing at a faster rate because marble is highly available. The steps required for processing and manufacturing natural or synthetic marbles are easy and require user-friendly tools and techniques. Most of the marble manufacturing potential companies have their base in China, making it a dominant nation in the market and increasing its revenue and sales.
Though the procedure of marble extraction and processing is simple, the cost involved in all these steps is very high, hence, the cost is one of the biggest restraining factors for the marble market, Due to this, many potential construction companies are switching to other natural or synthetic stones that are available at a cheap price. Granite is one of the popular stones replacing marble to a large extent, though, it doesn't provide high aesthetics to the buildings but its low cost makes it highly valuable.
Europe is highly interested in manufacturing marble as most of its buildings use marbles as a decorative element for the past few years. They seem to be quite interested in the aesthetics provided by white marble, making the interior of the buildings look highly appealing and professional. This helps them to attract their clients and make more profit. Many potential companies of Europe manufacture various designs using marble and increase the growth of the marble market.
Among all the colors, white marble is highly in demand and is used by various industries for its interior designs. Irrespective of high costs, the white marble market is still increasing at a high rate and various building construction companies prefer white marble over other stones.
The major players of the global marble market are DELTA Marble, Mining, Construction Import and Export, and Inc., Levantina y Asociados de Minerales, Classic Marble Company, S.A., Santucci Group, Temmer Marble, First marble and Granite, Hellenic Granite Company, Hilltop Granites, Fox Marble Holdings Plc, Kangli Stone Group, California Crafted Marble Inc., Dal-Tile Corporation, Topalidis S.A., NAMCO Co. Srl, Dimpomar-Rochas Portuguesas Lda, Asian Granito India Limited, Best Cheer Stone, Kingston Mining Holdings Ltd., R.K. Marble, Bhutra Marble and Granites, World Class Marble, Tilak Marbles, Xiamen Kungfu Stone, Xishi Group Ltd., Emirates Marble, Xiamen Yuanda Stone Co. Ltd., CUPA Group, RANAMAR, MARGRAF, Dermitzakis Bros S.A., Antolini Luigi and C. S.p.A., Southland Stone USA, and Polycor Inc.
Latest Innovations in the Global Marble Market: a Snapshot
- NITCO has come up with its revolutionary precision-based design marbles to beautify both personal and commercial spaces. The latest range promises of design supremacy along with budget-friendly pricing.
- Sintered Artificial Marble Market and Basalt Marble Market are expected to expand by improving their construction and development plans.
Marble Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 59.92 Billion|
|Growth Rate||CAGR of 6.32% during 2021-2028|
|Segment Covered||Type, Form, Color, Application, Source, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, The Middle East and South Africa|
|Key Players Profiled||DELTA Marble, Mining, Construction Import and Export, and Inc., Levantina y Asociados de Minerales, Classic Marble Company, S.A., Santucci Group, Temmer Marble, First marble and Granite, Hellenic Granite Company, Hilltop Granites, Fox Marble Holdings Plc, Kangli Stone Group, California Crafted Marble Inc., Dal-Tile Corporation, Topalidis S.A..|
Key Segments of the Global Marble Market
Type Overview, 2018-2028 (USD Billion)
Form Overview, 2018-2028 (USD Billion)
Color Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Buildings and Constructions
- Statues and Monuments
- Kitchen and Bathroom Countertops
- Bathroom Fittings
- Building Decorations
- Art and Carvings
Source Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa