Surging construction activities owing to high purchasing power of population to escalate the demand of marbles
- Vikas Kumar
- December 30, 2021
- CHEMICAL, NEWS
- Marble Market Growth, Marble Market News, Marble Market share, Marble Market size, Marble Market Trend
- 0 Comments
Global marble market is expected to expand at a reasonable CAGR of nearly 4% during the forecast period (2021-2027). Marble is an elegant natural stone with varying colors and patterns. On the basis of colors marbles are present in white, black, yellow, red and many more colors. The natural beauty of this raw stone makes it a versatile choice for any indoor or outdoor remodeling ideas. Marble is widely used in the construction of buildings, statues, monuments and furniture. This is owing to its composition which contributes to a mirror like polish which truly gives it a unique look and feel. Marble is one of the most luxurious natural stone easily available in bulk quantities which has wide applications which is driving the market. Although, environmental risks associated with the mining activities of marble coupled with health hazards caused by exposure to marble and marble dust would hamper the market growth.
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The COVID-19 pandemic severely impacted several markets across the globe, particularly in India, the U.S., Spain, and other Western European nations. The marble market had been impacted negatively due to the outbreak of COVID-19 resulted in the shutdown of manufacturing facilities in compliance with government regulations, to reduce the spread of disease. Further, lockdown led to shutdown of construction sites thereby delaying the project leading to financial loss to contractors, thus effected the demand of marble.
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Based on Color, the marble market is segmented into white, yellow, red, black, and others. White color marbles hold a lucrative market share due their wide use in the construction industry. A wide range of white marbles with different textures and patterns are most widely used in the construction of decorative or architectural infrastructures and sculptures.
Based on Application, the marble market is divided into building & construction, statues & monuments, furniture, and others. Among all, building and construction held a prominent market share. Increasing construction activities globally leads to high consumption of marble mainly in flooring, walls, and columns. Further, furniture is likely to witness considerable growth rate owing to shifting trends of marble in furniture instead of wooden furniture. For instance, marble tables are more trending than wooden tables as they are elegant and long lasting.
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Additionally, the report provides detailed initiatives that are being taken in the field of marble market. The market is classified into distinct regions including North America, Europe, Asia Pacific, and the Rest of World. Asia Pacific is likely to witness high growth due to rising economic growth resulting to high construction activities.
Global Marble Market Segmentation
Market Insight, by Color
Market Insight, by Application
- Building & Construction
- Statues & Monuments
Market Insight, by Region
- North America
- Asia Pacific
- Rest of World
Top Company Profiles
- Asian Granito India Limited
- Dal-tile corporation
- Dimpomar – Rochas Portuguesas Lda
- Levantina Y Asociados De Minerales S.A.U.
- Temmer Marble
- Topalidis S.A.
- Hellenic Granite Company S.A.
- Namco Co. Srl
- Fox Marble Holdings Plc.
- Delta Marble, Mining, Construction Import And Export Inc.