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Marble Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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    Report

  • 160 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5025353
UP TO OFF until Sep 30th 2022
The marble market is estimated to be valued at more than USD 18 billion in 2021, registering a CAGR of around 5% during the forecast period (2022-2027).

The COVID-19 pandemic had negatively impacted the marble market. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the coming years.

Key Highlights

  • In the short term, the rapid growth in the construction industry is expected to drive the demand for marble across the world.
  • However, the health hazard related to marble dust that causes abrasion and irritation to the skin is likely to hinder the market's growth.
  • The increasing use of marble slabs and powder is likely to provide opportunities for the marble market over the next five years.
  • Asia-Pacific dominated the market worldwide, with the largest consumption from countries such as China and India.

Key Market Trends


Building and Decoration Segment to Dominate the Market

  • Marble is widely used in the building and construction industry for decorative and structural purposes, ranging from outdoor sculptures to walls, veneers, flooring, ornamental features, stairways, and walkways.
  • Marble finds its application in interior and exterior wall cladding, interior and exterior paving, fireplace facing and hearth, and novelty items.
  • Different marble varieties are used basically as both interior and exterior vertical wall cladding and flooring. Their use as structural elements (masonry), statues, epitaphs, graves, etc., is quantitatively less, with funeral art accounting for the largest percentage. Marble is also widely used for decorative and structural purposes, ranging from outdoor sculptures to walls, veneers, flooring, ornamental features, stairways, and walkways.
  • Marble has become ever more popular for different applications, from use in large-scale construction projects to small do-it-yourself home renovations.
  • In addition to traditional markets already accustomed to using marble, new markets in the Middle East and Southeast Asia are now increasingly aware of the benefits of marble.
  • The rising building industry is expected to drive the marble consumption in building and decoration applications in the years to come. The global construction industry is expected to reach USD 8 trillion by 2030, primarily driven by countries such as India, China, and the United States.
  • China is in the midst of a construction mega-boom. The country has the largest building market in the world, making up 20% of all construction investments globally.
  • The country alone is expected to spend nearly USD 13 trillion on buildings by 2030. Although this number may take a hit as China is reeling through the Evergrande debt crisis.
  • Hence, the building and decoration segment is expected to dominate the market.


Asia-Pacific Region to Dominate the Market Studied

  • Asia-Pacific is expected to be the dominating and fastest-growing market over the forecast period, owing to increasing government investment in the building and construction industry in the region.
  • China is the largest single market for growth in the building sector. China has the largest new construction market globally, adding an average of 1.8-2.0 billion m2 (19 - 21 billion ft2) annually. The total floor area of Chinese buildings was expected to reach around 69 billion m2 (742 billion ft2) in 2020, and it is projected to be 80 billion m2 (861 billion ft2) by 2030.
  • The total number of malls (with a gross floor area over 10,000 m2 and not operating on a strata-titled basis) in China's top 30 cities is estimated to increase to 1,445 units in 2019, at an annual growth rate of 13%.
  • In India, the growing real estate business, which is mainly focused on the residential sector and commercial places, is key to the sector's growth. The growing individual townships are driving the sector.
  • The development of Palva industrial township, Zaheerabad integrated industrial township, and many other projects involving public and private investments with a total of USD 29.38 billion are boosting the sector.
  • Demand for residential housing in India has rushed due to increased urbanization and rising household income. Also, the Indian government has allowed FDI of up to 100% for settlement development and townships projects. This, in turn, is projected to increase the residential housing construction in the country.
  • Hence, all such market trends are expected to drive the demand for the marble market in the region during the forecast period.


Competitive Landscape


The market for marble is fragmented in nature, where no top player accounts for a major chunk. Some of the major companies (in no particular order) include Fox Marble, Best Cheer Stone, Levantina y Asociados de Minerales SA, Kangli stone group, and China Kingstone Mining Holdings Limited.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support


This product will be delivered within 2 business days.

Table of Contents

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Rapid Growth in the Construction Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Health Hazard Related to Marble Dust
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Degree of Competition
4.5 Trade Analysis
5 MARKET SEGMENTATION
5.1 Color
5.1.1 White
5.1.2 Black
5.1.3 Yellow
5.1.4 Red
5.1.5 Other Colors
5.2 Application
5.2.1 Building and Decoration
5.2.2 Statues and Monuments
5.2.3 Furniture
5.2.4 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 France
5.3.3.4 Italy
5.3.3.5 Turkey
5.3.3.6 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Antolini Luigi & C SpA
6.4.2 BC Marble Products Ltd
6.4.3 Best Cheer Stone
6.4.4 China Kingstone Mining Holdings Limited
6.4.5 Daltile
6.4.6 Dimpomar
6.4.7 FHL I Kiriakidis Marbles and Granites SA
6.4.8 Fox Marble
6.4.9 HELLENIC GRANITE Co.
6.4.10 Hilltop Granite
6.4.11 Indiana Limestone Company (A Polycor Inc. Company)
6.4.12 Kangli Stone Group
6.4.13 Levantina y Asociados de Minerales SA
6.4.14 Mumal Marble
6.4.15 Simsekler Mermer
6.4.16 Santucci Group Srl
6.4.17 Tekmar
6.4.18 Temmer Marble
6.4.19 Topalidis SA
6.4.20 The Marble Factory
6.4.21 Universal Marble & Granite Group Ltd
6.4.22 Xishi Group Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Use of Marble Slabs and Powder

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Antolini Luigi & C SpA
  • BC Marble Products Ltd
  • Best Cheer Stone
  • China Kingstone Mining Holdings Limited
  • Daltile
  • Dimpomar
  • FHL I Kiriakidis Marbles and Granites SA
  • Fox Marble
  • HELLENIC GRANITE Co.
  • Hilltop Granite
  • Indiana Limestone Company (A Polycor Inc. Company)
  • Kangli Stone Group
  • Levantina y Asociados de Minerales SA
  • Mumal Marble
  • Şimşekler Mermer
  • Santucci Group Srl
  • Tekmar
  • Temmer Marble
  • Topalidis SA
  • The Marble Factory
  • Universal Marble & Granite Group Ltd
  • Xishi Group Ltd

Methodology

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