Recent Developments & Attractive Business Opportunities in Marble Market Industry

The marble market is estimated at USD 13 billion in 2020 and is projected to reach USD 16billion by 2025, at a CAGR of 3.6% from 2020 to 2025. The building & construction segment is estimated to lead the marble market in 2020, owing to increasing demand for variety of marble for their physical properties in the construction industry. 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.

Browse 134 market data tables and 28 figures spread through 140 pages and in-depth TOC on the "Marble Market by Color (White, Black, Yellow, Red, and Others), Application (Building & Construction, Statues & Monuments, Furniture), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast"

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Major companies such as Levantina y Asociados de Minerales, S.A. (Spain), Temmer Marble (Turkey), Hellenic Granite Company (Greece), Fox Marble Holdings plc (UK), California Crafted Marble, Inc. (US), Topalidis S.A. (Greece), Dimpomar - RochasPortuguesasLda (Portugal), Polycor Inc. (Canada), Asian Granito India Limited (India), NAMCO CO. srl (Italy), Dal-Tile Corporation (US), Kangli Stone Group (China), Hilltop Granites (India), First Marble & Granite (Qatar), Santucci Group (Italy), Classic Marble Company (India), and DELTA Marble, Mining, Construction Import and Export Inc. (Turkey) among others are key players in the marble market. These players have been focusing on developmental strategies, such as acquisitions, partnerships, collaborations, expansions, agreements, and new product developments& launches, which have helped them expand their businesses in untapped and potential markets. They have also been adopting various organic and inorganic growth strategies, such as merger & acquisition, expansion, and new product launch, to enhance their current position in the marble market.

Levantina y Asociados de Minerales, S.A. is a global stone company that has accomplished a steady growth by expanding its reach across the globe since its establishment. It manufactures products, such as cream marble, marble, granite, porcelain, tiles, limestone & sandstone, quartzite, travertine, and other custom-made products out of natural stone. The company owns 7 factories (1 in Brazil and 6 in Spain), 2 project centers in Spain, and 20 distribution warehouses through which it has marked its global presence in more than 100 countries. The company also owns 20 stone centers in Spain, the UK, and the US.

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Hellenic Granite Company is involved in manufacturing, processing, and trading of decorative stones such as marbles, granites, travertines, and different types of quartz surfaces. The company procures granite raw materials from countries around the world (India, China, Zimbabwe, Brazil, Spain, Portugal, Norway and Finland) and ready-made granite products from India and China. It also imports marble (processed and raw) from the international market. Since 2004, Hellenic Granite Company has also been a part of trading artificial decorative stones that include quartz and cultured marbles. It has acquired several other companies in the past years, including Finnish Quarry Company Granicon Oy, which exports to Asia and Europe. Most of Hellenic Granite Company’s products are used for domestic and professional applications, which include important constructions and airports.

• In January 2019, Hellenic Granite Company launched EcoMarbles MAXFINE that are marbles made using natural methods at the FMG IRIS factories. They can also be developed with the advanced ACTIVE technology, which enables them to repel bacteria and dirt. They are ideal for residential, leisure, hotels, restaurants, gyms, schools, clinics, hospitals, and other areas requiring high levels of cleanliness and hygiene.

Temmer Marble has been an active player in the processing and manufacturing of products made from natural stone. The company owns one of the largest quarries in Turkey, which was its first investment. It owns six more quarries across the important marble reserve area in Turkey. The company owns one factory in Afyon, Turkey, which is the third-largest facility of its kind in the world. Temmer manufactures marbles in the form of blocks, cut-to-size products, and slabs. The other products that Temmer Marble manufactures include granite, onyx, travertine and porcelain. 80% of the company’s products are exported to about 40 countries in Europe, North America, Central Asia, and Far East.

• In February 2017, as a part of expansion strategy, Temmer Marble inaugurated its new showroom and gallery at its world class factory, Afyon. This expansion will help the company to meet the demand for marble and other natural stones in the domestic market.?

Recent Developments in Marble Market Industry

• In October 2019, Polycor Inc. acquired Elliott Stone Company Inc. (US), a leading quarrier and fabricator of Indiana limestone. The acquisition will reinforce the company’s leading position as the global natural stone quarrier and further strengthen its portfolio of hardscapes and masonry products.
• In October 2018, Polycor Inc. completed merger with Indiana Limestone Company (Indiana), a leading dimensional limestone quarrier and building products producer. This merger positioned the company as a global leader in the natural stone industry.
• In March 2018, California Crafted Marble Inc. installed top-of-the-line machinery, BACA Robo Waterjet, to cut the marble stones straight and curved. This machinery helped the company improve the quality of its marble products and to meet the demand effectively.?

The marble market is estimated at USD 13 billion in 2020 and is projected to reach USD 16 billion by 2025, at a CAGR of 3.6% from 2020 to 2025.Growth of the construction industry, leading to high demand for building materials such as marble has been the major reasons for the growth of the marble market.The growing demand for marble from applications such as building & construction, statues and monuments, and furniture is expected to drive the marble market.Outbreak of COVID-19 has led to halt in mining operation of marble in the first half of 2020. However, mining and processing operations are expected to resume from the second half of 2020.

Based on color, the marble market has been segmented intowhite, black, yellow, red, and other coloured marbles such as pink, grey, and brown. A variety of white marbles are most widely used in the construction of decorative or architectural infrastructures and sculptures. White marbles are majorly the facing stone in exterior applications- flooring, walls, and columns. Other bright colored marbles such as yellow, beige, grey and pink are used in applications such as decorative, architectural, and furniture among others. Dark shades of marbles such as black, brown, and red are used in the interiors applications in residential, commercial, and industrial infrastructures, such as flooring, walls, countertops, and tables.

Based on applications, the marble market has been segmented into building & construction, statues and monuments, furniture, and others that include cemetery marker, public infrastructure, and crockeries. The building & construction segment is expected to be the fastest-growing application segment of the marble market during the forecast period. Rising demand for residential and commercial infrastructure development in developing countries is fuelling the growth of building & construction application. Amid the COVID-19 outbreak, the construction industry is impacted that has led to a temporary halt in the business operations of construction industry. This factor has impacted the consumption of marble in the first half of 2020.

Based on region, the marble market is segregated into five regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, and South Africa. Among these, the European region is expected to lead the marble market during the forecast period. The region has large consumer base across the application areas, especially in building & construction. Also, the region has a large cluster of marblemaufacturers. Key players are adopting organic and inorganic strategies to sustain their market share. The marble market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China and India together accounted for the major share of the Asia Pacific marble market in 2019. This can be attributed to the increasing demand for marble from the region’s construction industry.?