Dublin, Dec. 30, 2020 (GLOBE NEWSWIRE) -- The "Global Marble Market by Color (White, Black, Yellow, Red, Others), Application (Building & Construction, Statues & Monuments, Furniture), and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global marble market is estimated at USD 13 billion in 2020 and is projected to reach USD 16 billion by 2025, growing at a CAGR of 3.6% from 2020 to 2025.
High demand for residential and commercial infrastructure from the developing economies is driving the growth of building & construction segment. In addition, growth of the construction industry has led leading to high demand for building materials such as marble is anticipated to fuel the growth of marble market.
White segment is projected to grow at the highest CAGR in the marble market between 2020 and 2025
White segment is projected to be the fastest growing color in the marble market during the forecast period. Wide range of shades, textures, and patterns are available in white colored marble. White marble is highly suitable for structures that require luxurious and aesthetical appeal. White marble is used since ancient era for construction of monuments, statues, and cemetery marker among others. For example, the Taj Mahal, one of the wonders of the world, was built using rich white marble and the statue of Lincoln was made using very bright white marble from Georgia.
Building & construction segment contributed to the highest consumption in the marble market
The building & construction segment is estimated to lead the marble market in 2020, due to rising demand for residential and commercial infrastructure. Marble is widely used building & construction application in flooring, wall, roofing, columns, and exteriors. In addition, marble is among the leading natural stones preferred for construction of residential and commercial buildings in applications such as kitchens, sanitation areas, and exteriors. Rising construction industry in Asia Pacific in both residential and commercial structures is expected to fuel the growth of marble market during the forecast period.
Based on the region, Asia-Pacific is projected to grow at the highest CAGR in the marble market between 2020 and 2025
The marble market in the Asia-Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China accounted for the major share of the global marble market in 2019, which is driving the growth of the Asia-Pacific region. China, India, Japan, and South Korea are the lucrative markets for marble in the Asia-Pacific region during the forecast period. The growth can be attributed to increasing demand for marble from the region's construction industry in residential and commercial infrastructures, particularly in China and India.
Market Dynamics
Drivers
- Growth of Construction Industry Leading to High Demand for Building Materials
- Easy and Bulk Availability of Marble
Restraints
- Availability of Cost-Effective Substitutes
- Damage due to Acid Reaction
Opportunities
- Potential Applications of Marble in Various Industries
Challenges
- Health Hazards Caused by Exposure to Marble and Marble Dust
- Environmental Risks Related to Marble Mining Activities
Companies Mentioned
- Asian Granito India Limited
- California Crafted Marble Inc.
- Campolonghi Group
- Classic Marble Company (CMC)
- Dal-Tile Corporation
- Delta Marble, Mining, Construction Import and Export Inc.
- Dimpomar - Rochas Portuguesas Lda.
- European Marble & Granite
- First Marble & Granite
- Fox Marble Holdings plc
- Hellenic Granite Company
- Hilltop Granites
- Kangli Stone Group
- Lasa Marmo Ltd. (Laaser Marmorindustrie Ltd.)
- Levantina y Asociados de Minerales, SA
- Mumal Marbles Pvt. Ltd.
- Namco Co. SRL
- Polycor Inc.
- RK Marbles India
- Santucci Group
- Stonex Natural Stone LLC (DBA Tirmar)
- Temmer Marble
- The Marble Factory
- Topalidis SA
- Vetter Stone Company
For more information about this report visit https://www.researchandmarkets.com/r/u9y2bs
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