The ‘Global Natural Stone and Marble Market Size, Share, Analysis, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global natural stone and marble market, assessing the market on the basis of its segments like product, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Natural Stone and Marble Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Around USD 49.62 Billion
• Forecast CAGR (2023-2028): 3.90%
• Forecast Market Size (2028): Nearly USD 62.6 Billion
With the growing demand for natural stones and speciality marbles like Statuario marble for decorative applications and aesthetics in high-end constructions, home restorations, and remodelling projects, the global natural stone and marble market is experiencing rapid expansion.
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Natural stone is renowned for its durability and its premium quality. When it comes to creating walls, monuments, and supports, these stones, especially granite, serve as an excellent material for difficult structural house projects. These stones are thus gaining massive popularity as a building material owing to the fact that they have virtually no impact on the environment, making them a very eco-friendly option.
Marble as a flooring and interior designing material is gaining popularity, owing to its advantages such as scratch resistance, durability, elegance, and versatility, which has propelled the demand for high-quality marbles.
Furthermore, the presence of large quarries that can provide high-quality marble and natural stone for architectural, commercial, and residential projects, has significantly improved, aiming to meet the natural stone and marble market demand.
Natural Stone and Marble Industry Definition and Major Segments
Natural stones and marbles are one of the most sought-after naturally occuring substances utilised in construction and interior designing. Natural stones are formed through geological changes and mineral compositions that occur for over a thousand years, while marble forms when pre-existing limestone rocks are heated under extreme temperatures to enlarge and fuse. These resources are utilised in a range of purposes including flooring, countertops, fireplaces, sculptures, and more.
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Based on product, the market for natural stone and marble can be segmented into:
The different applications in the natural stone and marble market include:
• Building and Construction
Based on region, the market for natural stone and marble can be segmented into
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Natural Stone and Marble Market Trends
The natural stone and marble market is expected to be driven by the rapidly growing construction sector. The market is expected to continue to expand in the forecast period due to rising demand for these materials from developing countries and increased urbanisation and industrialisation.
The increase in the number of engineering, procurement, and construction (EPC) projects are fostering the growth of the natural stone and marble market. Additionally, as natural stones may be utilised to alter and enhance the looks of both residential and commercial complexes, the rising popularity of home remodelling and renovation is assisting the market’s expansion.
The inside of the building’s architectural appeal can be greatly enhanced by natural stones. Products made of natural stones are more durable than those made of other materials, and they require relatively little care or maintanance over a long period of time. Additionally, worktops produced from these stones offer practical advantages in specific spaces such as kitchens and bathrooms, among others. Additionally, the rising demand for stone wall claddings among homeowners to enhance the aesthetic appeal of building structures is likely to aid the market expansion in the coming years.
Key Market Players
The major players in the natural stone and marble market report include Antolini Luigi & C. S.p.a., Dermitzakis Bros S.A, Margraf SPA, Levantina y Asociados de Minerales, S.A., Ranamar Marble, and Polycor Inc., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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