Marble Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 20.81 Billion |
| Market Size (2029) | USD 26.07 Billion |
| CAGR (2024 - 2029) | 4.61 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Marble Market Analysis
The Marble Market size is estimated at USD 20.81 billion in 2024, and is expected to reach USD 26.07 billion by 2029, growing at a CAGR of 4.61% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the marble market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the coming years.
- Over the short term, the rapid growth in the construction industry is expected to drive the demand for marble worldwide.
- However, the health hazard related to marble dust that causes abrasion and irritation to the skin is likely to hinder the market's growth.
- Nevertheless, the growing use of marble slabs and powder will likely create lucrative growth opportunities for the global market soon.
- Asia-Pacific dominated the market worldwide, with the most significant consumption from countries such as China and India.
Marble Market Trends
This section covers the major market trends shaping the Marble Market according to our research experts:
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 as 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 most significant percentage. Marble is also widely used for decorative and structural purposes, 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 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.
- According to the US Census Bureau, the value of public residential construction spending reached USD 9.27 billion in 2021, compared to USD 9.53 billion in 2020. The value of private commercial construction reached USD 91.03 billion in 2021, compared to USD 85.57 billion in 2020.
- As per the Statistisches Bundesamt survey, the number of building permits for residential and non-residential buildings in Germany reached 158 thousand in 2021 and registered growth compared to 153 thousand licenses in 2020.
- China is amid a construction mega-boom. The country has the most significant building market in the world, making up 20% of all construction investments globally.
- China 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
- 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.
- According to the National Bureau of Statistics of China, the value added to the Chinese construction industry accounted for CNY 8,013.8 billion (~USD 1,241.87 billion) in 2021, compared to CNY 7,244.5 billion (~USD 1,050.33 billion) in 2020.
- 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 foreign direct investment (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.
Marble Industry Overview
The marble market is highly fragmented. The major players include Fox Marble, Best Cheer Stone, Levantina y Asociados de Minerales, S.A., Kangli stone group, and China Kingstone Mining Holdings Limited, among others (not in particular order).
Marble Market Leaders
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Levantina y Asociados de Minerales, S.A
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Fox Marble
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Kangli stone group
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Best Cheer Stone
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Kingstone Mining Holdings Limited
*Disclaimer: Major Players sorted in no particular order
Marble Market News
- In November 2021, Fox Marble signed a joint venture agreement with the Al Bab Al Mumtaz Group in the United Arab Emirates. Under this agreement, Fox Marble will supply marble tiles and slabs processed in its factory in Kosovo to Al Bab Al Mumtaz Group for sale via its range of outlets in the region.
Marble Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. 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
4.3 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 (Market Size in Value)
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, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market 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 S.A.
6.4.14 Mumal Marble
6.4.15 艦im艧ekler 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
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Use of Marble Slabs and Powder
Marble Industry Segmentation
Marble is a metamorphic rock that forms when limestone is subjected to the heat and pressure of metamorphism. It is composed primarily of the mineral calcite (CaCO3) and usually contains other minerals, such as clay minerals, micas, quartz, pyrite, iron oxides, and graphite. The market is segmented by color, application, and geography. The market is segmented by color: white, black, yellow, red, and other colors. By application, the market is segmented into building and decoration, statues and monuments, furniture, and other applications. The report also covers the market size and forecasts for the marble market in 16 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
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| Building and Decoration | |
| Statues and Monuments | |
| Furniture | |
| Other Applications |
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Marble Market Research FAQs
How big is the Marble Market?
The Marble Market size is expected to reach USD 20.81 billion in 2024 and grow at a CAGR of 4.61% to reach USD 26.07 billion by 2029.
What is the current Marble Market size?
In 2024, the Marble Market size is expected to reach USD 20.81 billion.
Who are the key players in Marble Market?
Levantina y Asociados de Minerales, S.A, Fox Marble, Kangli stone group, Best Cheer Stone and Kingstone Mining Holdings Limited are the major companies operating in the Marble Market.
Which is the fastest growing region in Marble Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Marble Market?
In 2024, the Asia Pacific accounts for the largest market share in Marble Market.
What years does this Marble Market cover, and what was the market size in 2023?
In 2023, the Marble Market size was estimated at USD 19.89 billion. The report covers the Marble Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Marble Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What factors are driving the growth of the global Marble Market?
The factors driving the growth of the global Marble Market are a) Increasing construction activities in residential and commercial buildings worldwide b) Rising consumer purchasing power, a preference for natural and durable materials c) Increased use of marble in interior decoration
Marble Industry Report
The global marble market is experiencing significant growth, driven by increasing construction activities and a rising demand for high-quality, durable materials in both residential and commercial projects. Extensively used in building and construction for flooring, wall cladding, facades, and ornamental features, marble is also favored in statues and monuments for its durability and ease of carving. The furniture segment is seeing substantial growth with marble being used in tabletops, worktops, and decorative items. Supported by its natural beauty and unique veining patterns, marble is a preferred choice for luxury designs and high-end constructions. The market is segmented into tiles or slabs and blocks, each catering to specific needs, with tiles and slabs popular for their ease of installation and maintenance. Regionally, Asia Pacific leads due to rapid urbanization and infrastructure development, with strong demand also from Europe and North America. The competitive landscape sees marble companies expanding their product range and enhancing extraction and processing techniques. Overall, the marble industry report and market analysis forecast continued growth, driven by marble's aesthetic appeal, versatility, and durability. For detailed statistics and a market forecast, a free report PDF download is available from 糖心vlog传媒鈩� Industry Reports.
