WILMINGTON, DE / ACCESSWIRE / August 11, 2022 / Transparency Market Research Inc. - The global marble market is prognosticated to reach a revenue mark of US$ 93.7 Bn by 2030, according to a research report by Transparency Market Research (TMR). Thus, the market is projected to develop at a CAGR of 6% during the forecast period, 2020 to 2030, note analysts at TMR.
Companies operating in the global market for marble market are focusing on the adoption of advanced technologies in their production processes in order to manufacture marble in eco-friendly way. Moreover, several enterprises in the market for marble are increasing investments in next-gen equipment including computer numerical control (CNC) cutting. Such factors are likely to help in the overall expansion of the global marble market during the forecast period, state TMR researchers.
Marble market manufacturers are strengthening their production capabilities in staircases, facades, shower trays, and kitchen tops. Furthermore, many enterprises are using the strategy of collaboration with the regional distributors in order to strengthen their distribution channels.
The marble market is projected to attract profitable prospects in ASEAN regions during the forecast period. The growth of the market in the region is ascribed to many factors including a rise in the construction and infrastructure development projects in ASEAN. This aside, a surge in the use of different construction materials including marble in the infrastructure and construction sector is driving the ASEAN marble market.
Players in the marble market are observing different trends such as technological innovations for remote surveying and geological mapping in mines. Moreover, there has been a surge in utilization of precision surface excavation machines. This aside, high-power lasers are being utilized for drilling activities across the globe. Such trends are expected to play important role in the future growth of the global marble market, note analysts at TMR.
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Marble Market: Key Findings
- Marble is being utilized in the building decoration industry for a wide range of purposes such as a facing stone in colonnades, buildings and pillars, wainscoting, floor tiles, and paneling. Such factors are expected to boost the demand for marble market in the forthcoming years. This aside, marble is being increasingly used as in exterior and interior decorations, majorly for countertops and floor tiles in buildings. Players in the global marble market are expected to gain sizable business opportunities in the forthcoming years owing to rise in the use of the product in large-scale construction projects such as public squares, airports, villas, starred hotels, clubs, and high-end communities.
- The demand for marble is being increasing for use in the flooring, bathroom, and kitchen countertops. Rise in the customer understanding on interior designing technologies is boosting the growth prospects for marbles market. This aside, the application of marble is being increasing in the recent years owing to its cost-effectiveness in comparison with majority of other natural stones. Moreover, the players in the global marble market are expected to experience prominent business opportunities due to rise in the number of real estate projects across developed and developing nations around the world.
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Marble Market: Growth Boosters
- Rise in the use of marble in building decoration, furniture, art & carving, lamps, and home decoration products is boosting the growth opportunities in marble market
- The expansion of the global construction industry is driving the sales growth in the marble market
Marble Market: Key Players
Some of the key players profiled in the report are:
- S.A.
- Levantina y Asociados de Minerales
- Global Mining Company,
- Polycor Inc.
- NAMCO CO.
- Delta Granite and Marble, Inc.
- EMIRATES MARBLE
- SRL
- Xiamen Yuanda Stone Co. Ltd
- Xishi Group Ltd.
- Xiamen Kungfu Stone Ltd.
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Marble Market Segmentation
Product
- Tiles or Slabs
- Blocks
Application
- Kitchen & Bathroom Countertops
- Floors
- Bathroom Fittings
- Building Decoration
- Art & Carvings
- Furniture
- Others (including Vases and Lamps)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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