The global 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. The growth of the construction industry, leading to high demand for building materials such as marble has been the major reason for the growth of the marble market. The growing demand for marble from applications such as building & construction, statues and monuments, and furniture is expected to drive the marble market.
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Marble Market Dynamics
- Driver: Easy and bulk availability of marble
- Restraint: Availability of cost-effective substitutes
Based on color, the marble market has been segmented into white, black, yellow, and red, and other colored marbles such as pink, grey, and brown. A variety of white marbles are most widely used in the construction of decorative or architectural infrastructures and sculptures. White marbles are majorly the facing stone in exterior applications- flooring, walls, and columns. Other bright-colored marbles such as yellow, beige, grey, and pink are used in applications such as decorative, architectural, and furniture among others. Dark shades of marble such as black, brown, and red are used in the interior applications in residential, commercial, and industrial infrastructures, such as flooring, walls, countertops, and tables.
Based on applications, the marble market has been segmented into building & construction, statues and monuments, furniture, and others that include cemetery markers, public infrastructure, and crockeries. The building & construction segment is expected to be the fastest-growing application segment of the marble market during the forecast period. Rising demand for residential and commercial infrastructure development in developing countries is fuelling the growth of building & construction applications. Amid the COVID-19 outbreak, the construction industry is impacted which has led to a temporary halt in the business operations of the construction industry. This factor has impacted the consumption of marble in the first half of 2020.
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Based on region, the marble market is segregated into five regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South Africa. Among these, the European region is expected to lead the marble market during the forecast period. The region has large consumer base across the application areas, especially in building & construction. Also, the region has a large cluster of marble manufacturers. Key players are adopting organic and inorganic strategies to sustain their market share. The marble market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China and India together accounted for the major share of the Asia Pacific marble market in 2019. This can be attributed to the increasing demand for marble from the region’s construction industry.
Major companies such as 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 are key players in the marble market.
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 22)
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.2.1 MARKET SCOPE
1.2.2 YEARS CONSIDERED FOR THE STUDY
1.3 CURRENCY
1.4 UNIT CONSIDERED
1.5 STAKEHOLDERS
1.6 LIMITATIONS
2 RESEARCH METHODOLOGY (Page No. - 25)
2.1 MARKET DEFINITION AND SCOPE
2.2 MARKET ENGINEERING PROCESS
2.2.1 TOP-DOWN APPROACH
FIGURE 1 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH
2.2.2 BOTTOM-UP APPROACH
FIGURE 2 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
2.3 ASSUMPTIONS
2.4 RESEARCH DATA
2.4.1 SECONDARY DATA
2.4.1.1 Key data from secondary sources
2.4.2 PRIMARY DATA
2.4.2.1 Key data from primary sources
2.4.2.2 Breakdown of primary interviews
2.4.2.3 Key industry insights
2.5 BASE NUMBER CALCULATION
3 EXECUTIVE SUMMARY (Page No. - 30)
FIGURE 3 WHITE SEGMENT TO DOMINATE THE MARBLE MARKET FROM 2020 TO 2025
FIGURE 4 BUILDING & CONSTRUCTION SEGMENT TO LEAD THE MARBLE MARKET FROM 2020 TO 2025
FIGURE 5 MARBLE MARKET IN ASIA PACIFIC TO REGISTER THE HIGHEST CAGR
4 PREMIUM INSIGHTS (Page No. - 33)
4.1 ATTRACTIVE OPPORTUNITIES IN MARBLE MARKET
FIGURE 6 GROWTH OF CONSTRUCTION INDUSTRY TO DRIVE THE MARBLE MARKET
4.2 MARBLE MARKET, BY COLOR AND APPLICATION, 2019
FIGURE 7 BUILDING & CONSTRUCTION AND WHITE MARBLE SEGMENTS ACCOUNTED FOR LARGEST SHARES
4.3 MARBLE MARKET, BY COUNTRY
FIGURE 8 MARBLE MARKET IN INDIA TO REGISTER THE HIGHEST CAGR
5 MARKET OVERVIEW AND INDUSTRY TRENDS (Page No. - 35)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 9 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN MARBLE MARKET
5.2.1 DRIVERS
5.2.1.1 Growth of construction industry leading to high demand for building materials
5.2.1.2 Easy and bulk availability of marble
5.2.2 RESTRAINTS
5.2.2.1 Availability of cost-effective substitutes
5.2.2.2 Damage due to acid reaction
5.2.3 OPPORTUNITIES
5.2.3.1 Potential applications of marble in various industries
5.2.4 CHALLENGES
5.2.4.1 Health hazards caused by exposure to marble and marble dust
5.2.4.2 Environmental risks related to marble mining activities
5.3 VALUE CHAIN ANALYSIS
5.4 PORTER'S FIVE FORCES ANALYSIS
FIGURE 10 PORTER'S FIVE FORCES ANALYSIS OF MARBLE MARKET
5.4.1 BARGAINING POWER OF BUYERS
5.4.2 BARGAINING POWER OF SUPPLIERS
5.4.3 THREAT OF NEW ENTRANTS
5.4.4 THREAT OF SUBSTITUTES
5.4.5 INTENSITY OF COMPETITIVE RIVALRY
5.5 ENVIRONMENTAL AND SOCIAL RISKS
Continued....
