Market Description
Natural stone is predominantly referred to as the wide array of products quarried from the earth. These products are then used as decorative enhancements and building materials. The commonly found natural stones are marble, granite, slate, sandstone, travertine, onyx, and adoquin, among others.
Marble is predominantly a kind of metamorphic natural rock which is chemically comprised of recrystallized carbonate minerals like dolomite. It is generally used for its beauty in sculpture and architecture and is also utilized in the pharmaceutical industry owing to its efficient chemical properties.
Market Overview
The global natural stone and marble market was valued at USD 48.80 billion in 2021 and is poised to expand at a CAGR of 4.0% over 2022-2030, thereby amassing USD 69.46 billion by end of the stipulated timeline. The wide array of beneficial properties possessed by marble including hardness, strength, along with variations in colour, texture, and pattering is increasing its adoption for aesthetic application in construction activities.
Furthermore, increasing infrastructural developments across the globe, rise in construction activities, and surging disposable income level of the masses are positively swaying the industry dynamics. Alongside, widespread urbanization and population expansion worldwide are adding momentum to the progression of this business sphere.
Also, growing public inclination towards attractive outdoor designs pertaining to residential entities is creating lucrative opportunities for the marketplace to prosper. Besides, growth in renovation activities and escalating demand for natural stone in memorial applications are stimulating the overall industry dynamics.
For More Insights, Download a Free Sample Copy of Natural Stone and Marble Market: https://wemarketresearch.com/sample-request/natural-stone-and-marble-market/185/
On the contrary, availability of affordable substitutes and rigid environmental regulations pertaining to the sourcing and utilization of natural building materials are hindering the remuneration scope of this market vertical.
Global Natural Stone And Marble Market: Key Trends
Easy Availability Of Marble To Aid Market Expansion
There is a widespread availability of marble quarries in nations such as Spain, Turkey, Italy, and U.S. The presence of huge and high quality marble quarries is currently meeting the escalating demand for marble from industrial, residential, and pharmaceutical applications. This in turn is augmenting the outlook of this industry sphere.
Increase In Disposable Income Levels Of The Masses To Bolster Industry Growth
With a rapid surge in the per capita income of the masses, there has been an increase in the residential renovation and construction activities across the globe. Moreover, growing efforts of the consumers in enhancing the aesthetic appeal of their homes is further elevating the demand for marble across architecture, sculpture, and construction applications.
Global Natural Stone and Marble Market- Segmental Assessment
By Type:
- Marble
- Granite
- Limestone
- Others
By Application:
- Flooring
- Memorial Arts
- Wall Cladding
- Others
By Construction Type:
- New Construction
- Renovation
Global Natural Stone and Marble Market: Geographical Landscape
North America, Middle East & Africa, Europe, Asia Pacific, and Latin America are the major regions defining the geographical terrain of this business vertical. Among these, North America is projected to showcase lucrative expansion trends over 2022-2030. This is attributable to the significant increase in construction expenditure, widespread urbanization, and availability of marble quarries.
Global Natural Stone and Marble Market: Competitive Hierarchy
The prominent players operating in the market sphere are Temmer Marble (Turkey), Hellenic Granite Company (Greece), California Crafted Marble, Inc. (US), Fox Marble Holdings plc (UK), Topalidis S.A. (Greece), Polycor Inc. (Canada), Kangli Stone Group (China), Dimpomar – Rochas Portuguesas Lda (Portugal), NAMCO CO. srl (Italy), Asian Granito India Limited (India), Dal-Tile Corporation (US), Hilltop Granites (India), Levantina y Asociados de Minerales, S.A. (Spain), First Marble & Granite (Qatar), Santucci Group (Italy), DELTA Marble, Mining, Construction Import and Export Inc. (Turkey), and Classic Marble Company (India).
Notably, in October 2019, Polycor Inc. announced the acquisition of Elloitt Stone Company, Inc., to diversify its portfolio of masonry and hardscape products.
For More Details, Visit Our Natural Stone and Marble Market Report Page
About We Market Research:
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
Contact Us:
We Market Research
Phone: +1(650)-666-4592
Email: [email protected]
Web: https://wemarketresearch.com/
