Global Marble Market: Market worth USD 13 billion in 2020 and is projected to reach USD 16 billion by 2025, at a CAGR of 3.6% from 2020 to 2027

Published Date: 14/05/2021

In 2020, the marble market is estimated at USD 13 billion by 2020 and is projected to reach USD 16 billion by 2027, at a CAGR of 3.6 % from 2020 to 2027. Marble is metamorphosed limestone, which are composed of recrystallized carbonate minerals such as calcite or dolomite. Marble has physical properties such as strength, hardness, variation in colour, texture, and pattern among others, which makes it highly suitable for luxurious and aesthetical application in construction industry. Hence, rising demand for infrastructure development in developing economies and growth of construction industry in Asia Pacific region is a major driving factor for the growth of the marble market.

Marble is a very common natural stone composed of calcite mineral. Marble quarries are widely available across the world. There are huge and high-quality quarries of marble in countries such as the US, Italy, Turkey, and Spain, which meet the global demand for good quality marble for residential, industrial, and commercial infrastructures. In each country, there are huge marble quarries that lead to easy availability and logistics of marble for further processing into the final product. Marble is extracted from open-pit mines that range from small to very large scale. Marble mining is a capital-intensive process, and due to the availability of a large number of quarries around the world, the cost of transportation and logistics are minimized.

Marble is principally used in the construction industry for various applications. However, marble is being replaced by natural stones, such as granite and kaolin. Granite and kaolin are widely used in the construction industry as a replacement of marble due to their comparatively low cost. They also offer similar features. Kaolin has been readily adopted as a building material, particularly in decorative infrastructure and has diversified applications as compared to marble. It is widely used in the production of paper, ceramics & sanitary wares, plastics, rubbers, and pharmaceuticals, among others. Granite is mostly used in the construction of residential and commercial infrastructure, and it is a direct substitute of marble at a comparatively low price. Granite and kaolin are strong, yet lightweight materials and are easy to cut, process, sculpt, and carve, whereas marble is brittle and heavy. Thus, the availability of alternative materials, such as kaolin and granite, is acting as a restraint to the growth of the marble market. Artificial marble is also replacing the use of natural marble as the former can be developed in any desired designs, colors, and texture, which cannot be found in natural marbles. It is also inexpensive in comparison to natural marble.

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 the major players in the marble market.