Pune, India, April 18, 2023 (GLOBE NEWSWIRE) -- The natural stone and marble market size was valued at USD 48.80 billion in 2021 and industry size is expected to rise from USD 51.76 billion in 2022 to USD 68.06 billion by 2029 at a CAGR of 4.0% during the forecast period. Fortune Business Insights™ publishes this information in a report titled, "Natural Stone and Marble Market Size, Share and Forecast, 2022-2029". According to the report, the market is expected to rise during the projected period due to increasing demand for natural stones for decorative applications.
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List of Key Players Profiled in the Market Report for Natural Stone and Marble:
- Aro Granite Industries Ltd. (India)
- Dimpomar (Portugal)
- Antolini Luigi & C. S.p.A. (Italy)
- Dermitzakis Bros S.A. (Greece)
- Levantina y Asociados de Minerales, S.A. (Spain)
- MARGRAF (Italy)
- RANAMAR (Turkey)
- Polycor Inc. (Canada)
- Temmer Marble (Turkey)
- Southland Stone USA, Inc. (U.S.)
- Xishi Stone Group (China)
- CUPA Group (Spain)
Competitive Landscape:
Strategic Acquisition Allow Companies to Strengthen their Positions
Key market players focus on creating strategic alliances, acquisitions, collaborations, and partnerships. These strategies allow companies to expand their business reach and increase productivity and profitability. Also, new product development and innovation ideas will allow key players to enhance their product portfolio.
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 4.0% |
| 2029 Value Projection | USD 68.06 billion |
| Market Size in 2022 | USD 51.76 billion |
| Historical Data | 2017-2019 |
| No. of Pages | 215 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Natural Stone and Marble Market Growth Drivers | Building & Construction Segment to Dominate Market Due to Wider Applications |
| Asia Pacific Dominates the Market Share Due to Infrastructural Development |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/natural-stone-and-marble-market-104040
Segments:
Granite Segment to Lead Market Due to Rising Demand
Based on product type, the market of natural stone and marble is segregated into granite, limestone, marble, sandstone, slate, and others. The granite segment is expected to lead the market during the forecast period due to its increasing demand in Asian countries. Also, the quality and durability parameters bolster the segment growth.
Building & Construction Segment to Dominate Market Due to Wider Applications
On the basis of application, the market is categorized into building & construction, monumental, and others. The building and construction segment is anticipated to witness significant growth during the forecast period due to increasing construction activities in the commercial, residential, and industrial sectors.
Geographically, the market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report highlights complete information regarding market growth and development in recent years. Also, drivers and restraints affecting market growth during the forecast period are given further in this report. Furthermore, the impact of COVID-19 pandemic on market expansion is discussed along with the key market players' business development strategies. Regional market insights and a list of prominent market players are highlighted further in this report.
Key Industry Development:
- February 2022: Cupa Group, through Burton Roofing, announced the acquisition of 100% of Discount Roofing, a firm specializing in the distribution of roofing products. The company strengthened its presence in the British market and maintained its leadership position in the slate industry.
Drivers & Restraints:
Rising Demand for Natural Stones to Propel Market Growth
The market is anticipated to grow significantly during the forecast period due to increasing demand from the construction industry. Also, the consumers are adopting natural stones to create decorative pieces for residential and commercial sectors. The rapid growth in population and increased earning capacity of the consumers are anticipated to drive the market in the coming years.
However, increasing the adoption of artificial stones may hamper the market growth during the projected period.
Regional Insights:
Asia Pacific Dominates the Market Share Due to Infrastructural Development
Due to increasing construction activities, Asia Pacific holds the highest global natural stone and marble market share during the forecast period. Also, developing infrastructure in emerging countries is expected to fuel the market growth during the projected period. The regional market stood at USD 28.15 billion in 2021.
Europe is expected to grow at a fast pace during the forecast period, owing to increasing renovation activities. Also, strict environmental regulations on using natural building materials, including natural stone and marble are expected to drive the market.
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COVID-19 Impact:
Supply Chain Disruptions Amid Pandemic to Hinder Market Growth
The COVID-19 pandemic restricted the natural stone and marble market growth due to stringent restrictions imposed by governments. Also, the import/export policies were revised in many countries, which disrupted the supply chain and affected the supplies of raw materials and finished goods. Furthermore, sudden lockdown and social distancing norms restricted employees to work at 50% capacity and affected the manufacturing and production units.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Trends
- Key Industry Developments
- Insights on Regulatory Scenario
- PORTER’s Five Forces Analysis
- Covid-19 Impact Analysis
- Supply Chain Challenges
- Steps taken by companies to overcome the impact
- Opportunities due to COVID-19 outbreak
- Global Natural Stone and Marble Market Analysis, Insights and Forecast, 2018–2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type (Value & Volume)
- Granite
- Limestone
- Marble
- Sandstone
- Slate
- Others
- Market Analysis, Insights and Forecast – By Application (Value & Volume)
- Building & Construction
- Monumental
- Others
- Market Analysis, Insights and Forecast – By Region (Value & Volume)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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