LONDON, March 22, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the marble market, new product launches are a key trend gaining popularity in the marble market. Companies are increasingly focusing on making and developing new marble products with improved quality. For instance, in December 2020, American Olean announced the launch of their new Mythique Marble collection. Mythique Marble is a full-sized porcelain floor, ceramic wall, and mosaic tile collection that features four on-trend marble designs, each with its own distinct personality. Furthermore, in April 2019, Opera, an Onyx Marble line, was launched by Class Marble, an Indian tile production and trading company. Onyx is a natural stone that is rare and easy to recognize due to its bands of alternate colors formed by quartz and moganite intergrowths.
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Major players in the marble market are DuPont de Nemours Inc (US), LG Hausys, Kuraray, Aristech Acrylics, Staron(SAMSUNG), Durat, Hanex, CXUN, Wanfeng Compound Stone, XiShi Group, PengXiang Industry, Blowker, ChuanQi, New SunShine Stone, Leigei Stone, Jinlong Yu Marble, Guangdong Chuanqi Compound Stone Co. Ltd (China), Nanan Guang Tai Xiang Stone Co. Ltd (China), Indiana Limestone Company, Vetter Stone, Mumal Marbles, Aurangzeb Marble Industry, Pakistan Onyx Marble, MARGRAF, RANAMAR, Southland Stone Group, MARGRAF, Ranamar, LG Hausys, Sinai Marble, and Granite (US).
The global marble market size is expected to grow from $26.01 billion in 2021 to $28.74 billion in 2022 at a compound annual growth rate (CAGR) of 10.50%. The growth in the market is mainly due to the companies' rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The marble industry share is expected to reach $43.19 billion in 2026 at a CAGR of 10.72%.
The rising building industry is expected to drive marble consumption in building and decoration applications. The demand for residential housing has been increasing globally. The global construction industry is expected to reach $15.2 trillion by 2030, primarily driven by countries such as India, China, and the United States. So, the growing construction industry will drive the growth of marble industry.
The global marble market is segmented by type into natural, synthetic; by form into slab, powder; by color into white, others; by application into building and decoration, statues and monuments, furniture, others.
Asia-Pacific was the largest region in the marble market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global marble market during the forecast period. The regions covered in the global marble market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Marble Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide marble market overviews, marble market analyze and forecast market size and growth for the whole market, marble market segments and geographies, marble market trends, marble market drivers, marble market restraints, marble market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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