The global natural stone and marble market revenue was around US$ 50.65 billion in 2022 and is estimated to reach US$ 75.2 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2023 to 2031.
Natural stone is one of the luxury materials accessible for interior design and architecture. Marble is a metamorphic rock formed of recrystallized carbonate minerals such as dolomite and calcite. It is frequently employed as a building material and for sculpture. Marble finds application in multiple industries owing to its high compressive strength. Natural stone materials have excellent esthetic, decorative, and hydraulic binding properties.
Market Driving Factors
Natural stone products are more durable than imitation stone products and can endure for decades with small maintenance. These stones can also be found in kitchens, bathrooms, and other public areas. The increasing popularity of stone wall claddings among homeowners has driven the market growth.
Modern designs imprinted on marble and natural stones have played an important role in fueling the market by extending the range of applications and attracting new customers. The imprinted design provides an aesthetic and unique look that attracts customers seeking visually appealing and distinctive surfaces. Imprinted natural stones and marble can be integrated with modern architectural styles. Combining traditional natural materials with contemporary designs makes visually appealing surfaces, making imprinted natural stones and attractive marble options.
Surge in the use of artificial stone to restrain market expansion.
Regional Analysis
North America dominates the market in terms of revenue. This is due to the increased consumer expenditure on renovation or remodel projects. The Joint Centre for Housing Studies at Harvard University estimates that the industry for home remodel expanded by 7.6%. The increasing government spending on infrastructure projects is estimated to drive the demand for natural stones in construction applications. According to the Infrastructure Investment and Jobs Act, the US$ 1.2 trillion infrastructure plan, authorized in November previous year, included US$ 110 billion for road building and bridge repair, transportation research, and other efforts.
Asia Pacific is expected to dominate the market in terms of shares. India and China produced more than 40% share of all-natural stone in the region. These countries largely export their products to all essential consuming nations. They are experiencing an increasing stone demand owing to heavy spending on residential and commercial buildings by the private and government sectors. Furthermore, countertops, flooring, and wall claddings are the most important applications of natural stones in the region. The demand for natural stones in memorial applications is also anticipated to rise shortly due to the increasing emphasis of Western culture on emerging nations.
Segmentation Insights
Type Insight
The granite segment dominates the market in terms of shares. Granite is a popular stone utilized in construction for items like bathroom tiles, external wall cladding, and kitchen counters because of its exceptional durability. This segment is largely available in building material at a reasonable price, which meets functional standards such as scratch resistance, heat resistance, and stain resistance. It also has a pleasing appearance.
Application Insight
The monumental segment is the rapidly growing segment in the market. This is due to growth in the monument construction around the world, particularly in the Asia Pacific. The Bangladesh government announced plans to build a war memorial for Indian soldiers martyred who died during the conflict in 1971. Furthermore, numerous mental activities are being proposed by regional governments in various countries, which are likely to propel the segment growth.
Prominent Companies
Segmentation Outline
The global natural stone and marble market segmentation focuses on Type, Application, and Region.
By Type
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL NATURAL STONE AND MARBLE MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: NATURAL STONE AND MARBLE MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL NATURAL STONE AND MARBLE MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL NATURAL STONE AND MARBLE MARKET, BY TYPE
5.1 OVERVIEW
5.2 GRANITE
5.3 LIMESTONE
5.4 MARBLE
5.5 SANDSTONE
5.6 SLATE
5.7 OTHERS
6 GLOBAL NATURAL STONE AND MARBLE MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 BUILDING & CONSTRUCTION
6.3 MONUMENTAL
6.4 OTHERS
7 GLOBAL NATURAL STONE AND MARBLE MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL NATURAL STONE AND MARBLE MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 ARO GRANITE INDUSTRIES LTD
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 DIMPOMAR
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 ANTOLINI LUIGI & C. S.P.A.
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 DERMITZAKIS BROS S.A.
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 LEVANTINA Y ASOCIADOS DE MINERALES
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 MARGRAF
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 RANAMAR
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 POLYCOR INC
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 TEMMER MARBLE
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 SOUTHLAND STONE USA, INC
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.11 XISHI STONE GROUP
9.11.1 OVERVIEW
9.11.2 FINANCIAL PERFORMANCE
9.11.3 PRODUCT OUTLOOK
9.11.4 KEY DEVELOPMENTS
9.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.12 CUPA GROUP
9.12.1 OVERVIEW
9.12.2 FINANCIAL PERFORMANCE
9.12.3 PRODUCT OUTLOOK
9.12.4 KEY DEVELOPMENTS
9.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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