The marble market is estimated at USD 13 billion in 2020 and is projected to reach USD 16 billion by 2025, at a CAGR of 3.6% from 2020 to 2025
NEW YORK, Sept. 30, 2020 /PRNewswire/ -- The marble market is estimated at USD 13 billion in 2020 and is projected to reach USD 16 billion by 2025, at a CAGR of 3.6% from 2020 to 2025. High demand for residential and commercial infrastructure from the developing economies is driving the growth of building & construction segment. In addition, growth of the construction industry has led leading to high demand for building materials such as marble is anticipated to fuel the growth of marble market.
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White segment is projected to grow at the highest CAGR in the marble market between 2020 and 2025
White segment is projected to be the fastest growing color in the marble market during the forecast period.Wide range of shades, textures, and patterns are available in white colored marble.
White marble is highly suitable for structures that require luxurious and aesthetical appeal.White marble is used since ancient era for construction of monuments, statues, and cemetery marker among others.
For example, the Taj Mahal, one of the wonders of the world, was built using rich white marble and the statue of Lincoln was made using very bright white marble from Georgia.
Building & construction segment contributed to the highest consumption in the marble market
The building & construction segment is estimated to lead the marble market in 2020, due to rising demand for residential and commercial infrastructure.Marble is widely used building & construction application in flooring, wall, roofing, columns, and exteriors.
In addition, marble is among the leading natural stones preferred for construction of residential and commercial buildings in applications such as kitchens, sanitation areas, and exteriors. Rising construction industry in Asia Pacific in both residential and commercial structures is expected to fuel the growth of marble market during the forecast period.
Based on the region, Asia Pacific is projected to grow at the highest CAGR in the marble market between 2020 and 2025
The marble market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025.China accounted for the major share of the global marble market in 2019, which is driving the growth of the Asia Pacific region.
China, India, Japan, and South Korea are the lucrative markets for marble in the Asia Pacific region during the forecast period. The growth can be attributed to increasing demand for marble from the region's construction industry in residential and commercial infrastructures, particularly in China and India.
Breakdown of primary interviews for the report on the marble market
• By Company Type – Tier 1 – 30%, Tier 2 –40%, and Tier 3 – 30%
• By Designation – C-Level – 20%, D-Level Executives – 40%, and Others – 40%
• By Region – Europe – 20%, Asia Pacific – 60%, North America – 10%, Rest of the World – 10%
The leading manufacturers of marble profiled in this report include Levantina y Asociados de Minerales, S.A. (Spain), Temmer Marble (Turkey), Hellenic Granite Company (Greece), Fox Marble Holdings plc (UK), California Crafted Marble, Inc. (US), Topalidis S.A. (Greece), Dimpomar - Rochas Portuguesas Lda (Portugal), Polycor Inc. (Canada), Asian Granito India Limited (India), NAMCO CO. srl (Italy), Dal-Tile Corporation (US), Kangli Stone Group (China), Hilltop Granites (India), First Marble & Granite (Qatar), Santucci Group (Italy), Classic Marble Company (India), and DELTA Marble, Mining, Construction Import and Export Inc. (Turkey) among others.
Research Coverage
The report covers the marble market by color (white, black, yellow, red , and other), by application (building & construction, statues and monuments, furniture, and others), and by region.The study aims at estimating the size and future growth potential of the market across various segments.
It also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report focuses on various levels of analyses, such as industry analysis (industry trends) and company profiles. With these insights, the study discusses the basic views on the competitive landscape, emerging & high-growth segments, high-growth regions, drivers, restraints, opportunities, and challenges in the marble market.
The report provides insights on the following:
• Market Penetration: Comprehensive information on various products of marble offered by top players operating in the market
• Product Development/Innovation: Detailed insights into upcoming developments in the marble market, R&D activities, and new applications in construction industry in the market
• Market Development: Comprehensive information about lucrative and emerging markets across different regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the marble market
• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the marble market
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