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

The Marble Market is segmented by Color (White, Black, Yellow, Red, and Other Colors), Application (Building and Decoration, Statues and Monuments, Furniture, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers the market size and forecasts for marble in revenue (USD million) for all the above segments.

Market Snapshot

Marble Market Summary
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: <5 %
Marble Market Major Players

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Market Overview

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.

  • 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.

Scope of the Report

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. By Color, the market is segmented into 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 on the basis of revenue (USD million).

Color
White
Black
Yellow
Red
Other Colors
Application
Building and Decoration
Statues and Monuments
Furniture
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Turkey
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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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.
Marble Market : Revenue Share (%), by Application, Global, 2021

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.
Marble Market : Growth Rate by Region, 2022-2027

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.

Recent Developments

  • The recent developments pertaining to the major players in the market are being covered in the complete study.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Rapid Growth in the Construction Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Health Hazard Related to Marble Dust

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitutes

      5. 4.4.5 Degree of Competition

    5. 4.5 Trade Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Color

      1. 5.1.1 White

      2. 5.1.2 Black

      3. 5.1.3 Yellow

      4. 5.1.4 Red

      5. 5.1.5 Other Colors

    2. 5.2 Application

      1. 5.2.1 Building and Decoration

      2. 5.2.2 Statues and Monuments

      3. 5.2.3 Furniture

      4. 5.2.4 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Turkey

        6. 5.3.3.6 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Antolini Luigi & C SpA

      2. 6.4.2 BC Marble Products Ltd

      3. 6.4.3 Best Cheer Stone

      4. 6.4.4 China Kingstone Mining Holdings Limited

      5. 6.4.5 Daltile

      6. 6.4.6 Dimpomar

      7. 6.4.7 FHL I Kiriakidis Marbles and Granites SA

      8. 6.4.8 Fox Marble

      9. 6.4.9 HELLENIC GRANITE Co.

      10. 6.4.10 Hilltop Granite

      11. 6.4.11 Indiana Limestone Company (A Polycor Inc. Company)

      12. 6.4.12 Kangli Stone Group

      13. 6.4.13 Levantina y Asociados de Minerales SA

      14. 6.4.14 Mumal Marble

      15. 6.4.15 Şimşekler Mermer

      16. 6.4.16 Santucci Group Srl

      17. 6.4.17 Tekmar

      18. 6.4.18 Temmer Marble

      19. 6.4.19 Topalidis SA

      20. 6.4.20 The Marble Factory

      21. 6.4.21 Universal Marble & Granite Group Ltd

      22. 6.4.22 Xishi Group Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Use of Marble Slabs and Powder

**Subject to Availability

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Frequently Asked Questions

The Marble Market market is studied from 2017 - 2027.

The Marble Market is growing at a CAGR of <5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2021.

Levantina y Asociados de Minerales, S.A, Fox Marble, Kangli stone group, Best Cheer Stone, Kingstone Mining Holdings Limited are the major companies operating in Marble Market.

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