Artificial Marble Market Overview:
The Artificial Marble Market analysis provides a full insight into the competition, including the market share and company profiles of the key worldwide rivals. The scope of the research covers a thorough investigation of the Artificial Marble Market, as well as the causes for variances in the industry’s growth in different regions.
The Artificial Marble Market was valued at USD 7.84 Bn in 2021 and is expected to reach at USD 16.45 Bn by 2029 at a CAGR of 9.7 % over forecast period 2021-2029.
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Market Scope:
Following the completion of market engineering, which comprised market statistics calculations, estimations of market size, market projections, market breakdown, and data triangulation, major primary research was conducted to obtain information and verify and validate critical numbers. Top-down and bottom-up strategies, as well as several data triangulation procedures, were often used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.
Segmentation:
By application, flooring held 41.65% of market share in 2021 and is expected to keep its dominance over forecast period. Flooring application segment is the major consumer of marble; the artificial marble in flooring is used for various flooring as laying pavements, stairs, kitchen platforms, flooring, sculpture, and external walls. Artificial Marble not only serves the decorative purpose, but is also functionally used as filler for concrete aggregate, stairs, pavements, floor coverings, and external walls in the construction industry. Marble is often associated with luxury and extravagance; hence, it is employed for decoration purposes in various lavish buildings and monuments such as hotels, theatres, temples, churches, memorial buildings, and tombs.
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Key Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
• The biggest players in the Artificial Marble Market are as follows:
• Aristech Surfaces LLC
• Hanex Solid Surfaces
• Krystal Stone Exports Ltd.
• Kuraray Co., Ltd
• Leigei Stone Co Ltd.
• LG Hausys Ltd.
• Marmil SA
• OWELL
• Lotte Advanced Materials
• DuPont de Nemours, Inc (US)
• Guangdong Chuanqi Compound Stone Co.,Ltd (China)
• Nanan Guang Tai Xiang Stone Co., Ltd (China)
• Pengxiang (China)
• Wanfeng Compound Stone Technology Co., Ltd. (China)
• Shanghai Meyate Group (China)
• Samsung Stone Industry Co., Ltd. (China)
• Yunfu Liji Stone Co., Ltd (China)
• Bitto Industry (Dongguan) Co., Ltd. (China)
• Jordan Marble and Granite (US)
• E. I. du Pont de Nemours and Company
• Durat
• CXUN
• XiShi Group
• Meyate Group
• Blowker
Regional Analysis:
Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Artificial Marble Market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Artificial Marble Market:
End-user industries where Artificial Marble Market is utilized saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Artificial Marble Market manufacturers, influencing the development of the Artificial Marble Market in 2020. End-user business demand for Artificial Marble Market has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.
Key Questions Answered in the Artificial Marble Market Report are:
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In 2021, which segment held the highest proportion of the Artificial Marble Market?
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What is the Artificial Marble Market’s competitive landscape?
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What are the primary drivers assisting the Artificial Marble Market growth?
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Which region has the most market share in the Artificial Marble Market?
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What will be the Artificial Marble Market’s CAGR throughout the projected period?
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