The global marble market size was valued at USD 71.73 billion in 2023 and is expected to be worth USD 69.52 billion in 2024. The market is projected to reach USD 93.53 billion by 2032, recording a CAGR of 3.8% during the forecast period.
Marble is a metamorphic rock composed of recrystallized carbonate materials, primarily calcite or dolomite. It reforms through the transformation of limestone under high pressure and temperature. Its beauty and durability have resulted in its multiple applications. It is widely adopted in architecture and sculpture, adorning buildings, monuments, and artworks.
The COVID-19 pandemic significantly impacted the global market. Lockdowns and health concerns resulted in the closure and minimized operations of quarries and processing facilities in major marble-producing nations and a decline in production. However, the market experienced recovery as restrictions were eased. The increasing demand for residential projects supported the market’s growth.
Fortune Business Insights™ displays this information in a report titled, “Marble Market, 2025-2032.”
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Segmentation:
White Color Captured Largest Market Share Due to its Widespread Adoption in Building and Construction Projects
Based on color, the market is classified into white, black, yellow, red, and others. The white color segment captured the largest marble market share in 2023 and is projected to grow significantly in the coming future. This growth is influenced by its widespread adoption in building and construction projects in flooring, walls, and countertops, driven by its durability and aesthetic appeal.
Building & Construction Dominated Market Due to Durability and Aesthetic Appeal of Marble
Based on application, the market is segmented into building & construction, statues & monuments, furniture, and others. The building & construction segment accounted for the largest share of the market in 2023. This growth can be attributed to its properties, such as durability, aesthetic appeal, and versatility as a building material.
With respect to region, the market covers North America, Latin America, Europe, the Asia Pacific, and the Middle East & Africa.
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading applications, colors, and key market players. It has also focused on the latest market trends and key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Increasing Need for Sustainable Construction to Fuel Market Expansion
Marble, being a renewable resource, can be extracted with reduced carbon emissions when sourced properly. Its longevity is also a contributing factor supporting sustainable construction. Buildings and structures made from this material necessitate less maintenance and tend to have extended lifespans in comparison to those constructed with less durable materials. This durability property also minimizes the requirement for frequent replacements and lowers wastage, appealing to sustainable construction. These factors contribute to the overall marble market growth.
However, market growth is restricted by the constraining factor of the availability and affordability of high-quality raw materials.
Regional Insights:
Europe Held Dominant Market Share Due to Product’s Historical and Cultural Significance
The European region held the dominant market share, generating a value of USD 31.08 billion in 2023. The region’s growth can be attributed to the historical and cultural significance of the product and its application in high-end construction and design.
The North American region is expected to witness growth. Residential and commercial construction activities in the region significantly contribute to its market growth.
Competitive Landscape:
Major Players to Focus on Price, Quality, and Variety of Marble Types Offered to Maintain Their Competitiveness in Market
Some of the major players operating in this market are Levantina y Asociados de Minerales SA, Polycor Inc., Daltile, Temmer Merme, and Antolini Luigi & CSpa. The market is characterized by fragmentation with several players of different sizes, from local quarry operations to large, vertically integrated companies. The market is highly competitive and based on factors such as price, quality, variety, and value-added services.
Notable Industry Development:
May 2023: Polycor Inc. acquired ROCAMAT, a major player in the international building stone production sector and a major natural stone producer in France. ROCOMAT operates 30 limestone quarries and four processing facilities in France. This acquisition aims to foster new growth opportunities for Polycor in the country.
LIST OF KEY COMPANIES PROFILED IN THE REPORT
- Levantina y Asociados de Minerales, S.A. (Spain)
- Polycor Inc. (Canada)
- Daltile (U.S.)
- Temmer Mermer (Turkey)
- Antolini Luigi & CSpa (Italy)
- TOPALIDIS S.A. (Greece)
- Dimpomar (Portugal)
- Fox Marble, Inc (U.K.)
- Kangli Stone Group (China)
- Best Cheer Stone (U.S.)
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