MarbleMarket: Introduction
TransparencyMarket Research delivers key insights on the global marble market. In terms of revenue, the global marble market isestimated to expand at a CAGR of ~6% during the forecast period, owing tonumerous factors, regarding which TMR offers thorough insights and forecasts inits report on the global marble market.
Theglobal marble market is broadly affected by several factors, including rise inusage of marble in the building & construction sector. Thus, expandingapplications of marble in different sectors are propelling the global marblemarket.
MarbleMarket: Dynamics
Marbleis a metamorphic rock composed of recrystallized carbonate minerals, whereincalcite or dolomite are common constituents. Marble is considered one thehighly popular natural stones around the world. Marble slabs, tiles, and blocksare extensively used in construction of private and public buildings anddecorative artwork items.
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Marbleis primarily used as a finishing stone in the building & constructionindustry. It can be used either in a cladding structure or in supportingcolumns, flooring, bench-tops, and other decorative applications. Marble is adimensional stone that can be largely used in kitchen countertops, wallcladdings, and pavers.
Incomparison to many other natural stones, marble is highly durable and easy tocarve. This makes it a preferred option for new buildings as well as renovationprojects.
Marbleis one of the most used precious stones in the building & constructionindustry. White marbles are valued for fine art sculptures, due to theirrelatively high isotropy and homogeneity; and resistance to shattering.Compared to alternative stones such as limestone, marble possesses much finergrains. This makes it easier for the sculptor to render minute details.
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Inthe form of a slab, marble is used for a variety of purposes inside homes. Apopular application of marble is fireplace construction. It not just boosts thedecor of the living space, but also enhances the value of the property to alarge extent.
Currently,the global construction industry holds about 13% share of theglobal GDP. This share is expected to increase to 15% by 2020.Countries projected to witness significant growth in the construction industryin the near future include China, India, Russia, Brazil, Poland, and the U.S.
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MarbleMarket: Prominent Regions
AsiaPacific dominated the global marble market with 30.7% share in 2019. This trendis anticipated to continue during the forecast period. Increase in newconstruction and renovation activities in Asia Pacific is boosting the demandfor marble in the region. The marble market in Europe is estimated to expand ata healthy CAGR during the forecast period due to growth in the art &craving industry in the region.
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MarbleMarket: Key Players
Keyplayers operating in the global marble market are segmented into tier 1, tier2, and tier 3. Tier 1 companies comprise major players such as Levantina yAsociados de Minerales, S.A. and Polycor inc. These players have considerablepresence across the globe. These companies accounted for 40% to 50% share of theglobal marble market in 2019.
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