Natural Stone and Marble Market Outlook
According to the report by Expert Market Research (EMR), the natural stone and marble market size reached a value of USD 51.56 billion in 2023. Aided by the increasing construction activities, rising demand for luxury interiors, and growing preference for natural materials over synthetic alternatives, the market is projected to further grow at a CAGR of 3.90% between 2024 and 2032 to reach a value of USD 72.95 billion by 2032.
Natural stone and marble are highly luxurious materials that are commonly utilised in architecture and interior design. Natural stone materials possess exceptional aesthetic appeal, as well as ornamental and hydraulic-binding properties. On the other hand, marble is a metamorphic rock composed of recrystallised carbonate minerals such as calcite or dolomite. It is often employed as a fundamental building material and for sculpting purposes. Due to its impressive compressive strength, marble finds numerous applications across different industries.
As per the natural stone and marble market analysis, one of the key market drivers is the increasing use of natural stone in construction and architectural applications. Natural stones such as marble, granite, and limestone are valued for their durability, aesthetic appeal, and unique patterns, making them popular choices for flooring, countertops, and cladding.
Another factor driving the natural stone and marble market growth is the rising demand for luxury interiors in residential and commercial buildings. Natural stone and marble are often used to create luxurious and elegant interiors, driving demand in the market.
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Moreover, one of the key trends positively impacting the market includes the expansion of renovation projects and the rising demand for natural stone in memorial applications. Marble quarries are widely available in countries like Spain, Turkey, Italy, and the United States. Large and high-quality marble quarries are available, which allows them to meet the growing demand for marble for commercial, residential, and monumental purposes. This, in turn, is boosting the natural stone and marble market expansion.
Additionally, expansion of engineering, procurement, and construction (EPC) projects within the infrastructure sector is promoting market expansion for natural stone and marble. Mopreover, the growing popularity of house remodelling and renovation is helping the market grow since natural stones may be used to change and improve appearances in both residential and commercial complexes.
Europe is expected to dominate the global natural stone and marble market share, owing to the region’s rich architectural heritage and the presence of prominent key players in the market. The region is also witnessing growing demand for natural stone in restoration and renovation projects, further driving market growth.
Furthermore, Asia-Pacific is also expected to witness significant growth in the natural stone and marble market, driven by rapid urbanisation and increasing construction activities in countries such as China, India, and Southeast Asian countries.
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Natural Stone and Marble Market Segmentation
The market can be divided based on the product, application, and region.
Market Breakup by Product
- Granite
- Limestone
- Sandstone
- Slate
- Marble
- Others
Market Breakup by Application
- Monumental
- Building and Construction
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global natural stone and marble market. Some of the major players explored in the report by Expert Market Research are as follows:
- Antolini Luigi & C. S.p.a.
- Dermitzakis Bros S.A
- Margraf SPA
- Levantina y Asociados de Minerales, S.A.
- Ranamar Marble
- Polycor Inc.
- Others
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