Natural Stone and Marble Market to Reach USD 62.58 Billion by 2027 | Natural Stone and Marble Industry Exhibiting a CAGR of 7.57% During the Forecast Period 2020-2027
Fortune Business Insights
4 min read
Companies covered in natural stone and marble market are Polycor Inc. (Canada), Dimpomar (Portugal), Antolini Luigi & C. S.p.A. (Italy), Dermitzakis Bros S.A. (Greece), Levantina y Asociados de Minerales, S.A. (Spain), MARGRAF (Italy), RANAMAR (Turkey), Temmer Marble(Turkey), Southland Stone USA, Inc. (The United States), Xishi Stone Group (China), CUPA Group (Spain), Aro Granite Industries Ltd. (India), and others.
Pune, India, April 25, 2022 (GLOBE NEWSWIRE) -- The global natural stone and marble market size is expected to reach USD 62.58 billion by 2027, exhibiting a CAGR of 7.57% during the forecast period. The increasing demand for natural stones such as White Statuario marble for decorative purposes in luxury buildings, home remodeling, and renovation activities will encourage the healthy growth of the market.
This information is given by Fortune Business Insights, in a new report titled “Natural Stone and Marble Market Size, Share & COVID-19 Impact Analysis, By Type (Granite, Limestone, Marble, Sandstone, Slate, and Others), By Application (Building & Construction, Monumental, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 57.48 billion in 2019.
As per the Global Construction Perspectives and Oxford Economics report on Global Construction 2030, US and Indian construction industries are expected to grow faster than China’s construction industry. The global construction volume is forecasted to grow by around 85% by 2030.
The Report Lists the Key Companies in the Natural Stone and Marble Market:
Aro Granite Industries Ltd. (India)
Antolini Luigi & C. S.p.A. (Italy)
Dermitzakis Bros S.A. (Greece)
MARGRAF (Italy)
RANAMAR (Turkey)
Temmer Marble(Turkey)
Southland Stone USA, Inc. (The United States)
Xishi Stone Group (China)
CUPA Group (Spain)
Market Driver:
Significant Demand from Construction Industry to Stimulate Development
The building and construction industry is expected to spur demand for the market owing to its high consumption of natural stones and marbles in buildings. Rapid urbanization and industrialization have led to high demand for these materials in developing countries, which, in turn, will aid the expansion of the market.
China and India have emerged as top exporters of these products. India exports most of its granite produce to China, which is around 40% of the global granite exports. China largely processes the imported granite and re-exports the processed products to other parts of the World. Furthermore, the rising disposable income of consumers will further spur demand for the market.
Increasing Renovation Activities to Augment Growth in Europe
Europe is expected to account for a significant market share during the forecast period owing to the increasing demand from countries such as Italy, Germany, and France that account for the majority share in the region. The growing renovation activities will contribute to the growth in Europe.
The market size in Asia Pacific is expected to hold the largest share in the market. China is the largest consumer of natural stones & marble. The country processes large volumes of natural stone and exports the surplus products to other parts of the world.
Rapid urbanization in developing countries such as India, Bangladesh, and Thailand will enable healthy growth of the market in the region.
The Middle East & Africa and Latin America are expected to exhibit a steady growth rate during the forecast period owing to the such as Saudi Arabia, Turkey, and UAE. Turkey is one of the largest exporters of natural stone in the region.
The report on the natural stone and marble Industry portrays:
Dynamic insights into the market
Swot Analysis of the regions
Latest market trends
Stellar insights into the competitive landscape
Latest development
Market drivers and restraints
Browse Detailed Summary of Research Report with TOC:
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