Marble
Market: Introduction
Transparency
Market Research delivers key insights on the global
marble market. In terms of revenue, the global marble market is
estimated to expand at a CAGR of ~6% during the forecast period, owing to
numerous factors, regarding which TMR offers thorough insights and forecasts in
its report on the global marble market.
The global
marble market is broadly affected by several factors, including rise in usage
of marble in the building & construction sector. Thus, expanding
applications of marble in different sectors are propelling the global marble
market.
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Marble Market: Dynamics
Marble is a
metamorphic rock composed of recrystallized carbonate minerals, wherein calcite
or dolomite are common constituents. Marble is considered one the highly
popular natural stones around the world. Marble slabs, tiles, and blocks are
extensively used in construction of private and public buildings and decorative
artwork items.
Marble is
primarily used as a finishing stone in the building & construction
industry. It can be used either in a cladding structure or in supporting
columns, flooring, bench-tops, and other decorative applications. Marble is a
dimensional stone that can be largely used in kitchen countertops, wall
claddings, and pavers.
In
comparison to many other natural stones, marble is highly durable and easy to
carve. This makes it a preferred option for new buildings as well as renovation
projects.
Marble is
one of the most used precious stones in the building & construction
industry. White marbles are valued for fine art sculptures, due to their
relatively high isotropy and homogeneity; and resistance to shattering.
Compared to alternative stones such as limestone, marble possesses much finer
grains. This makes it easier for the sculptor to render minute details.
In the form
of a slab, marble is used for a variety of purposes inside homes. A popular
application of marble is fireplace construction. It not just boosts the decor
of the living space, but also enhances the value of the property to a large
extent.
Currently,
the global construction industry holds about 13% share of the
global GDP. This share is expected to increase to 15%
by 2020. Countries projected to witness significant growth in the construction
industry in the near future include China, India, Russia, Brazil, Poland, and
the U.S.
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Marble Market: Prominent Regions
Asia
Pacific dominated the global marble market with 30.7% share
in 2019. This trend is anticipated to continue during the forecast period.
Increase in new construction and renovation activities in Asia Pacific is
boosting the demand for marble in the region. The marble market in Europe is
estimated to expand at a healthy CAGR during the forecast period due to growth
in the art & craving industry in the region.
Marble Market: Key Players
Key players
operating in the global marble market are segmented into tier 1, tier 2, and
tier 3. Tier 1 companies comprise major players such as Levantina y Asociados
de Minerales, S.A. and Polycor inc. These players have considerable presence
across the globe. These companies accounted for 40% to 50%
share of the global marble market in 2019.
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