Marble Market: Current Analysis and Forecast (2023-2030)

Marble is basically a metamorphic rock that forms limestone when subjected to heat and pressure. It has a translucent feature and allows light to enter and give out a soft glow. Marble can also take a very high polish. Thus, it is also used in making sculptures and in the construction of monuments. Moreover, in comparison to other natural stones marbles have higher durability. This, coupled with the fact that marbles can be easily carved and its demand from the art and craft industry is projected to aid in the expansion of the market during the forecast period. For instance, in 2021, Fox Marble signed a joint venture agreement with Al Bab Al Mumtaz Group in the United Arab Emirates. Al-Bab Al Mumtaz Group is a wholesaler of flooring solutions to customers in the UAE and MENA region.

The Marble Market is expected to grow at a strong CAGR of 4% during the forecast period (2023-2030) owing to the rising use of marble for making sculptures and in the construction of monuments. Companies operating in the global marble market are indulging in collaborative agreements such as mergers and acquisitions, product launches, and similar strategies to obtain the top position in the market competition. For instance, in February 2022, Cupa Group, through Burton Roofing, announced the acquisition of 100% Discount Roofing, a firm that specializes in the distribution of roofing products. Via this deal, the company strengthened its presence in the British market and maintained its leadership position in the slate industry.

Based on color, the marble market is segmented into white, yellow, red, black, and others. White color marble is expected to grow with a robust CAGR during the forecast period. White marble is the most popular and widely used color of marble, and it is often associated with luxury, elegance, and sophistication. White marble is used in a wide range of applications, including construction, architecture, and interior design. In construction, it is often used for its strength and durability in the production of building materials such as countertops, flooring, and wall tiles. It is also used in the production of sculptures and other decorative elements. Thus, such factors are increasing the demand for white marble which in turn is escalating the market for marble across the globe.

Based on application, the marble market is divided into building & construction, statues & monuments, furniture, and others. Among all, building & construction held a prominent market share in 2022. Marble is a popular choice for builders and architects due to its strength, durability, and beauty. In the construction industry, marble is used for a wide range of applications, including the production of building materials such as countertops, flooring, and wall tiles. It is also used in the production of sculptures and other decorative elements. Marble is often used in the construction of high-end residential and commercial buildings, as well as in the restoration of historic buildings. It is also used in the production of public buildings such as museums, libraries, and government buildings. Thus, such factors are increasing the market for building & construction which is further escalating the market for marble.

For a better understanding of the market adoption of marble, the market is analyzed based on its worldwide presence in countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Japan, Rest of APAC), and Rest of World. Asia-Pacific is expected to grow significantly during the forecast period. This is mainly owing to the region being home to a large and growing middle class, which is increasingly affluent and has a higher disposable income. This has led to an increase in demand for luxury goods, including marble, which is often associated with high-end and exclusive products. Additionally, the region has a large and growing construction industry, which is a major consumer of marble. Marble is used in the production of a wide range of building materials, including countertops, flooring, and wall tiles, as well as in the production of sculptures and other decorative elements. Moreover, many large and growing tourism industry, which is another major consumer of marble. Marble is often used in the construction of hotels, resorts, and other tourist attractions, as well as in the production of souvenirs and other gift items. Thus, such factors are increasing the demand for marble across the region.

Some of the major players operating in the market include: Asian Granito India Limited; Dal-tile Corporation; Dimpomar - Rochas Portuguesas Lda; Levantina Y Asociados De Minerales S.A.U.; Temmer Marble; Topalidis S.A.; Hellenic Granite Company S.A.; Namco Co. Srl; Fox Marble Holdings Plc.; Delta Marble.