Natural Stone and Marble Market
Growth Factors of Natural Stone and Marble Market
The natural stone and marble market size was valued at USD 50.65 billion in 2022, and the market is now projected to grow from USD 53.82 billion in 2023 to USD 73.47 billion by 2030, exhibiting a CAGR of 4.5% during the forecast period of 2023-2030.
The COVID-19 outbreak significantly affected the natural stone and marble market growth because construction projects were stopped and raw material supplies were disrupted globally. The production of stones also came down as quarries closed down while the demand for stones decreased drastically. Liquidity challenges hit construction firms hard, slowing the industry. However, relief packages and mitigation strategies spurred gradual recovery by 2021, with steady growth expected.
Modern designs imprinted on natural stones and marble have boosted the global natural stone and marble market share by expanding their applications and appeal. These designs, including geometric shapes and intricate patterns, offer visually distinctive surfaces that attract customers. Some technologies used include CNC Milling and Laser Engraving which provides depth of detail in customization. This has boosted its application, especially in wall cladding, countertops and decorative purposes. Combining traditional materials with contemporary styles makes imprinted stones popular in modern architecture.
Moreover, luxurious natural stones in decorative applications drive market growth, with consumers seeking sustainable, long-lasting materials. Premium stones such as White Statuario marble are in high demand, especially for kitchens and bathrooms where unique designs are preferred. Natural stones provide waterproof, aesthetic surfaces for these spaces. Additionally, outdoor applications such as cladding and paving are expected to boost demand for these stones.
Comprehensive Analysis of Natural Stone and Marble Market
The natural stone and marble market and chemicals & advanced materials industry is rising exponentially due to its market segmentation. This market expansion effectively provides detailed regional assessments considering the dominant supply and demand forces that impact the chemicals & advanced materials industry. These segmentations are methodically segregated by types and by applications, The type includes, Granite, Limestone, Marble, Sandstone, Slate and Others. The application includes, Building & Construction, Monumental and Others.
The Asia Pacific natural stone market was valued at USD 29.15 billion in 2022, with China and India dominating the global production, accounting for over 40% of output. High demand from the construction industry, driven by government and private investments in commercial and residential projects, fuels growth in these countries. Japan, South Korea and Southeast Asia also contribute significantly. Key applications in the region include flooring, countertops and wall claddings, while demand for memorial applications is rising due to western cultural influence.
The top players in the market play a crucial role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players include, Aro Granite Industries Ltd. (India), 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), Polycor Inc. (Canada), Temmer Marble (Turkey), Southland Stone USA, Inc. (U.S.), Xishi Stone Group (China) and CUPA Group (Spain). These market players provide a level-playing competitive landscape.
In March 2022, Dermitzakis Bros S.A. completed the first construction phase of its new factory complex in Drama. This integration capacity aims to improve the company’s place in Europe and other international
Segmentation Table
Global Natural Stone and Marble Market Scope
Study Period 2019-2032
Base Year 2022
Forecast Period 2023-2030
Growth Rate CAGR of 4.5% from 2023 to 2030
Historical Period 2019-2021
Unit Value (USD Billion) Volume (Million Ton)
Segmentation By Type, Application, and Geography
By Type Granite
Limestone
Marble
Sandstone
Slate
Others
By Application Building & Construction
Monumental
Others
By Geography North America (By Raw Material, By Application, By Country)
- U.S. (By Application)
- Canada (By Application)
- Germany (By Application)
- U.K. (By Application)
- France (By Application)
- Italy (By Application)
- Spain (By Application)
- Russia (By Application)
- Rest of Europe (By Application)
- China (By Application)
- Japan (By Application)
- India (By Application)
- South Korea (By Application)
- Rest of Asia Pacific (By Application)
- Brazil (By Application)
- Mexico (By Application)
- Rest of Latin America (By Application)
- GCC (By Application)
- South Africa (By Application)
- Rest of Middle East & Africa (By Application)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Market Trends in the Global Market
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Insights on Impact of COVID-19 on Global Natural Stone and Marble Market
- 5.1. Supply Chain Analysis & Challenges due to Covid-19
- 5.2. Steps taken by Government / Companies to Overcome this Impact
- 5.3. Potential Challenges and Opportunities due to COVID-19 Outbreak
- 6. Global Natural Stone and Marble Market Analysis, Insights and Forecast, 2019-2030
- 6.1. Key Findings / Summary
- 6.2. By Product Type (Value/Volume)
- 6.2.1. Granite
- 6.2.2. Limestone
- 6.2.3. Marble Sandstone
- 6.2.4. Slate
- 6.2.5. Others
- 6.3. By Application (Value/Volume)
- 6.3.1. Building & Construction
- 6.3.2. Monumental
- 6.3.3. Specialty
- 6.4. By Region (Value/Volume)
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East & Africa
- 7. North America Natural Stone and Marble Market Analysis, Insights and Forecast, 2019-2030
- 7.1. Key Findings / Summary
- 7.2. By Product Type (Value/Volume)
- 7.2.1. Granite
- 7.2.2. Limestone
- 7.2.3. Marble Sandstone
- 7.2.4. Slate
- 7.2.5. Others
- 7.3. By Application (Value/Volume)
- 7.3.1. Building & Construction
- 7.3.2. Monumental
- 7.3.3. Specialty
- 7.4. By Country (Value/Volume)
- 7.4.1. U.S
- 7.4.1.1. By Application (Value/Volume)
- 7.4.1.1.1. Building & Construction
- 7.4.1.1.2. Monumental
- 7.4.1.1.3. Specialty
- 7.4.2. Canada
- 7.4.2.1. By Application (Value/Volume)
- 7.4.2.1.1. Building & Construction
- 7.4.2.1.2. Monumen
- 7.4.2.1.3. Specialty
- 8. Europe Natural Stone and Marble Market Analysis, Insights and Forecast, 2019-2030
- 8.1. Key Findings / Summary
- 8.2. By Product Type (Value/Volume)
- 8.2.1. Granite
- 8.2.2. Limestone
- 8.2.3. Marble Sandstone
- 8.2.4. Slate
- 8.2.5. Others
- 8.3. By Application (Value/Volume)
- 8.3.1. Building & Construction
- 8.3.2. Monumental
- 8.3.3. Specialty
- 8.4. By Country (Value/Volume)
- 8.4.1. Germany
- 8.4.1.1. By Application (Value/Volume)
- 8.4.1.1.1. Building & Construction
- 8.4.1.1.2. Monumenta
- 8.4.1.1.3. Specialty
- 8.4.2. U.K.
- 8.4.2.1. By Application (Value/Volume
- 8.4.2.1.1. Building & Constructio
- 8.4.2.1.2. Monument
- 8.4.2.1.3. Specialty
- 8.4.3. France
- 8.4.3.1. By Application (Value/Volume)
- 8.4.3.1.1. Building & Construction
- 8.4.3.1.2. Monumental
- 8.4.3.1.3. Specialty
- 8.4.4. Italy
- 8.4.4.1. By Application (Value/Volume)
- 8.4.4.1.1. Building & Construction
- 8.4.4.1.2. Monumenta
- 8.4.4.1.3. Specialty
- 8.4.5. Spain
- 8.4.5.1. By Application (Value/Volume)
- 8.4.5.1.1. Building & Construction
- 8.4.5.1.2. Monumental
- 8.4.5.1.3. Specialty
- 8.4.6. Russia
- 8.4.6.1. By Application (Value/Volume)
- 8.4.6.1.1. Building & Construction
- 8.4.6.1.2. Monumental
- 8.4.6.1.3. Specialty
- 8.4.7. Rest of Europe
- 8.4.7.1. By Application (Value/Volume)
- 8.4.7.1.1. Building & Construction
- 8.4.7.1.2. Monumental
- 8.4.7.1.3. Specialty
- 9. Asia-Pacific Natural Stone and Marble Market Analysis, Insights and Forecast, 2019-2030
- 9.1. Key Findings / Summary
- 9.2. By Product Type (Value/Volume)
- 9.2.1. Granite
- 9.2.2. Limestone
- 9.2.3. Marble Sandstone
- 9.2.4. Slate
- 9.2.5. Others
- 9.3. By Application (Value/Volume)
- 9.3.1. Building & Construction
- 9.3.2. Monumental
- 9.3.3. Specialty
- 9.4. By Country (Value/Volume)
- 9.4.1. China
- 9.4.1.1. By Application (Value/Volume)
- 9.4.1.1.1. Building & Construction
- 9.4.1.1.2. Monumental
- 9.4.1.1.3. Specialty
- 9.4.2. Japan
- 9.4.2.1. By Application (Value/Volume)
- 9.4.2.1.1. Building & Construction
- 9.4.2.1.2. Monumental
- 9.4.2.1.3. Specialty
- 9.4.3. India
- 9.4.3.1. By Application (Value/Volume)
- 9.4.3.1.1. Building & Construction
- 9.4.3.1.2. Monumental
- 9.4.3.1.3. Specialty
- 9.4.4. South Korea
- 9.4.4.1. By Application (Value/Volume)
- 9.4.4.1.1. Building & Construction
- 9.4.4.1.2. Monumental
- 9.4.4.1.3. Specialt
- 9.4.5. Rest of Asia Pacific
- 9.4.5.1. By Application (Value/Volume)
- 9.4.5.2. Building & Construction
- 9.4.5.3. Monumental
- 9.4.5.4. Specialty
- 10. Latin America Natural Stone and Marble Market Analysis, Insights and Forecast, 2019-2030
- 10.1. Key Findings / Summary
- 10.2. By Product Type (Value/Volume)
- 10.2.1. Granite
- 10.2.2. Limestone
- 10.2.3. Marble Sandstone
- 10.2.4. Slate
- 10.2.5. Others
- 10.3. By Application (Value/Volume)
- 10.3.1. Building & Construction
- 10.3.2. Monumental
- 10.3.3. Specialty
- 10.4. By Country (Value/Volume)
- 10.4.1. Brazil
- 10.4.1.1. By Application (Value/Volume)
- 10.4.1.1.1. Building & Construction
- 10.4.1.1.2. Monumental
- 10.4.1.1.3. Specialty
- 10.4.2. Mexico
- 10.4.2.1. By Application (Value/Volume)
- 10.4.2.1.1. Building & Construction
- 10.4.2.1.2. Monumental
- 10.4.2.1.3. Specialty
- 10.4.3. Rest of Latin America
- 10.4.3.1. By Application (Value/Volume)
- 10.4.3.1.1. Building & Construction
- 10.4.3.1.2. Monumental
- 10.4.3.1.3. Specialty
- 11. Middle East & Africa Natural Stone and Marble Market Analysis, Insights and Forecast, 2019-2030
- 11.1. Key Findings / Summary
- 11.2. By Product Type (Value/Volume)
- 11.2.1. Granite
- 11.2.2. Limestone
- 11.2.3. Marble Sandstone
- 11.2.4. Slate
- 11.2.5. Others
- 11.3. By Application (Value/Volume)
- 11.3.1. Building & Construction
- 11.3.2. Monumental
- 11.3.3. Specialty
- 11.4. By Country (Value/Volume)
- 11.4.1. GCC
- 11.4.1.1. By Application (Value/Volume)
- 11.4.1.1.1. Building & Construction
- 11.4.1.1.2. Monumental
- 11.4.1.1.3. Specialty
- 11.4.2. South Africa
- 11.4.2.1. By Application (Value/Volume)
- 11.4.2.1.1. Building & Construction
- 11.4.2.1.2. Monumental
- 11.4.2.1.3. Specialty
- 11.4.3. Rest of Middle East & Africa
- 11.4.3.1. By Application (Value/Volume)
- 11.4.3.1.1. Building & Construction
- 11.4.3.1.2. Monumental
- 11.4.3.1.3. Specialty
- 12. Company Profiles
- 12.1. Aro Granite Industries Ltd. (India).
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Dimpomar (Portugal)
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Antolini Luigi & C. S.p.A. (Italy)
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Dermitzakis Bros S.A. (Greece)
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Levantina y Asociados de Minerales, S.A. (Spain)
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. MARGRAF (Italy)
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. RANAMAR (Turkey)
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Polycor Inc. (Canada)
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Temmer Marble (Turkey)
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Southland Stone USA, Inc. (U.S.)
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 12.10.6.
- 12.11. Xishi Stone Group (China)
- 12.11.1. Overview
- 12.11.2. Description
- 12.11.3. Product Portfolio
- 12.11.4. Financials (Data as available in public domain and/or on paid databases)
- 12.11.5. Recent Developments
- 12.12. CUPA Group (Spain)
- 12.12.1. Overview
- 12.12.2. Description
- 12.12.3. Product Portfolio
- 12.12.4. Financials (Data as available in public domain and/or on paid databases)
- 12.12.5. Recent Developments
- 13. Strategic Recommendations
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