One of the opulent materials accessible for architecture and interior design is natural stone. Calcite or dolomite that has undergone recrystallization makes up the metamorphic rock known as marble. It is frequently employed as a building material and for sculpture. Marble's great compressive strength makes it useful in a wide range of industries. Superior aesthetic, ornamental, and hydraulic binding qualities can be found in natural stone materials. Marble is often used in construction and building projects.

Natural stone and marble market was valued at USD 48.80 billion in 2021 and is poised to expand at a CAGR of 4.0% over 2022-2030, thereby amassing USD 69.46 billion by end of the stipulated timeline.

Marble reflects light well. This contributes to lower energy costs and aesthetic improvements. In quarries, skilled work is necessary for the excavation of natural stones.

Market overview:

The market for natural stones and marble is significantly constrained by the high cost of marble extraction and marble cracking. To lower the price of mining marble and other natural stones, market players are creating and introducing cutting-edge technology.

The market has been positively impacted by the rising demand for natural stones for wall cladding in emerging nations due to the popularity of outdoor entertaining spaces. Additionally, the demand for building supplies like marble is growing quickly due to an increase in its use in furniture and memorial construction. However, the current climate change brought on by global warming and resource depletion has led to the development of strict rules aimed at reducing emissions globally and optimising the use of natural resources. Governmental efforts to reduce stone mining thereby limit the expansion of the global market.

Due to the significant consumption of natural stones and marbles in buildings, the building and construction sector is anticipated to drive demand for the market. High demand for these materials in developing nations has resulted from rapid urbanisation and industrialisation, which will help the market grow.

The two countries with the largest exports of these goods are China and India. About 40% of the world's granite exports come from India, which mostly sends its granite production to China. The majority of the imported granite is processed in China, and the finished goods are then exported to other countries. Additionally, consumers' increasing disposable income will increase market demand.

An increase in construction spending across several nations, including the U.S., Japan, India, and others, as well as an expansion of the building industry, all of which contribute to the growth of the natural stone market globally. The demand for natural stones for flooring and wall cladding is also anticipated to increase as urbanisation and population growth continue to climb. This will help the global market expand. The lengthy durability, aesthetic appeal, and dependability of natural stones encourage the use of slate and limestone in commercial and residential construction, which in turn fuels the expansion of the worldwide natural stone industry.

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Natural Stone And Marble Market- Segmental Assessment

By Type:

• Marble
• Granite
• Limestone
• Others

By Application:

• Flooring
• Memorial Arts
• Wall Cladding
• Others

By Construction Type:

• New Construction
• Renovation

Key market Players:

Temmer Marble (Turkey), Hellenic Granite Company (Greece), California Crafted Marble, Inc. (US), Fox Marble Holdings plc (UK), Topalidis S.A. (Greece), Polycor Inc. (Canada), Kangli Stone Group (China), Dimpomar - Rochas Portuguesas Lda (Portugal), NAMCO CO. srl (Italy), Asian Granito India Limited (India), Dal-Tile Corporation (US), Hilltop Granites (India), Levantina y Asociados de Minerales, S.A. (Spain), First Marble Granite (Qatar), Santucci Group (Italy), DELTA Marble, Mining, Construction Import and Export Inc. (Turkey), Classic Marble Company (India).

COVID-19 impact:

Due to country-wide lockdowns and delays in production and supply of natural stone used in residential and commercial areas, the COVID 19 outbreak has hampered the expansion of the natural stone sector. 

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