The Marble Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Marble Global Market Report 2024, The marble market size has grown rapidly in recent years. It will grow from $31.33 billion in 2023 to $34.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to architectural demand, global urbanization, international trade and export, preference for natural materials, cultural heritage preservation.
The marble market size is expected to see strong growth in the next few years. It will grow to $50.03 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to sustainable quarrying practices, rising demand in emerging markets, increasing use in furniture and décor, infrastructure development, marble as a sustainable building material. Major trends in the forecast period include innovations in marble finishes, digital technologies in marble processing, customization and personalization in marble products, collaboration with designers and architects, digital marketing and online sales.
The growing construction industry is expected to propel the growth of the marble market going forward. The construction industry refers to a sector that encompasses various activities related to building, repairing, renovating, and maintaining infrastructure. Marble plays a significant role in the construction sector due to its aesthetic appeal, durability, and versatility. is used in both interior and exterior applications, such as walls, floors, and sculptures, to improve the visual appeal of buildings. It is also highly durable and resistant to heat, making it suitable for various construction applications. For instance, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach $15.2 trillion. Therefore, the growing construction industry is driving the growth of the marble market.
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The marble market covered in this report is segmented –
1) By Type: Natural, Synthetic
2) By Form: Slab, Powder
3) By Color: White, Other Colors
4) By Application: Building and Decoration, Statues and Monuments, Furniture, Other Applications
Major companies operating in the marble market are developing new products, such as paired stones flooring, to gain a competitive edge in the market. Paired stone flooring is a type of floor made with a combination of small, roughly cut stones typically laid in a pattern. For instance, in May 2023, The Quarry Marble, an Indian-based provider of Italian and onyx marbles, launched The Quarry Season Of Love, a perfectly paired marble, granite, and onyx collection. The Season of Love collection includes a variety of stones, from the rare and exotic Sodalite to the classic and elegant Laas Authentico white marble. Each slab is handpicked by The Quarry’s curators and cut to perfection, ensuring that every piece is a true masterpiece.
The marble market report table of contents includes:
1. Executive Summary
2. Marble Market Characteristics
3. Marble Market Trends And Strategies
4. Marble Market – Macro Economic Scenario
…
32. Global Marble Market Competitive Benchmarking
33. Global Marble Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Marble Market
35. Marble Market Future Outlook and Potential Analysis
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