Natural Stone And Marble Market was valued at USD 48.80 billion in 2021 and is poised to expand at a CAGR of 4.0% over 2022-2030.
One of the opulent materials accessible for architecture and interior design is natural stone. Calcite or dolomite that has undergone recrystallization makes up the metamorphic rock known as marble. It is frequently employed as a building material and for sculpture. Marble’s great compressive strength makes it useful in a wide range of industries. Superior aesthetic, ornamental, and hydraulic binding qualities can be found in natural stone materials. Marble is often used in construction and building projects.
Natural Stone And Marble Market: Overview
The market for natural stones and marble is significantly constrained by the high cost of marble extraction and marble cracking. To lower the price of mining marble and other natural stones, market players are creating and introducing cutting-edge technology.
An increase in construction spending across several nations, including the U.S., Japan, India, and others, as well as an expansion of the building industry, all of which contribute to the growth of the natural stone market globally. The demand for natural stones for flooring and wall cladding is also anticipated to increase as urbanisation and population growth continue to climb. This will help the global market expand. Natural stone advantages including longevity, aesthetic appeal, and dependability encourage the use of slate and limestone in commercial and residential construction, which in turn fuels the expansion of the worldwide natural stone industry.
Marble and granite are used as patio, porch, backyard, and pavement floors because they improve the appearance of residential buildings, which encourages their adoption. The demand for natural stones is also anticipated to rise globally due to an increase in the number of engineering, procurement, and construction (EPC) projects in the infrastructure sector, along with real estate and various urban infrastructure projects. Construction of infrastructure, such as highways, bridges, airports, power plants, and particularly highway and road projects, is what primarily drives the market. The global market is also anticipated to grow as a result of increased industrialisation and an increase in the need for residential and commercial infrastructure.
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Natural Stone And Marble Market: Segmental Assessment
By Type:
- Marble
- Granite
- Limestone
- Others
By Application:
- Flooring
- Memorial Arts
- Wall Cladding
- Others
By Construction Type:
- New Construction
- Renovation
Natural Stone And Marble Market: Competitive Hierarchy
Temmer Marble (Turkey), Hellenic Granite Company (Greece), California Crafted Marble, Inc. (US), Fox Marble Holdings plc (UK), Topalidis S.A. (Greece), Polycor Inc. (Canada), Kangli Stone Group (China), Dimpomar – Rochas Portuguesas Lda (Portugal), NAMCO CO. srl (Italy), Asian Granito India Limited (India), Dal-Tile Corporation (US), Hilltop Granites (India), Levantina y Asociados de Minerales, S.A. (Spain), First Marble & Granite (Qatar), Santucci Group (Italy), DELTA Marble, Mining, Construction Import and Export Inc. (Turkey), Classic Marble Company (India).
COVID-19 impact:
Due to country-wide lockdowns and delays in production and supply of natural stone used in residential and commercial areas, the COVID 19 outbreak has hampered the expansion of the natural stone sector.
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