USD 34092.41 million
Natural Stone And Marble Market Size, Share, Growth Analysis, By Product type(Granite, Limestone, Marble (black, red), By Application(Building, Constructions, Monumental, Others), By Region - Industry Forecast 2025-2032
Report ID:
SQSG20B2005 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
73
|Figures:
75
Natural Stone And Marble Market Insights
Natural Stone And Marble Market size was valued at USD 35456.11 Million in 2023 and is poised to grow from USD 36874.35 Million in 2024 to USD 50465.1 Million by 2032, growing at a CAGR of 4% during the forecast period (2025-2032).
Natural stone is a luxury material that may be used in construction and interior design. Marble is a metamorphic rock made up of recrystallized carbonate minerals like calcite and dolomite. It's popular for sculpting and as a construction material. Because of its great compressive strength, marble is used in a variety of industries. Natural stone has excellent aesthetic, ornamental, and hydraulic binding characteristics. Marble is widely used in building and construction operations. Light is reflected by marble. This contributes to better aesthetics and lower energy costs. Quarries require skilled labourers to excavate natural stones.
Natural beauty and durability are the primary motivators for natural stone and marble adoption in the worldwide building market. Companies that supply natural stones are thinking about expanding their manufacturing capacity to meet future demands. The developed countries of Europe and North America lead the market, but Asia Pacific now dominates it. A development of the building industry as a result of increasing investment in the housing sector and increased construction spending in various nations such as the United States, Japan, India, and others, fuels the growth of the natural stone and marbles market. Furthermore, rising urban population is predicted to increase demand for natural stones for flooring and wall adding applications, propelling the worldwide market forward. However, recent climatic changes caused by global warming and resource exploitation have led to the introduction of severe policies aimed at optimizing natural resource usage and lowering global emissions.
US Natural Stone And Marble Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Buildings and Constructions
Fastest Growth
Monumental
Growth Rate
4% CAGR
Global Natural Stone and Marble Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
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Natural Stone And Marble Market Segmental Analysis
Global Natural Stone and Marble Market is segmented based on the product type, application, and region. Based on product type, the global market is segmented into granite, limestone, marble (black, red, brown, pink, yellow, green, and others), sandstone, slate, and others. Based on application, the market is segmented into building and constructions, monumental, and others. By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa (MEA).
Natural Stone And Marble Market Analysis by Product type
Granite accounted for a sizable chunk of the worldwide Global Natural Stone and Marble Market in 2021. Because of its durability, granite is a popular stone for building applications such as kitchen countertops, external wall claddings, and bathroom tiles. Granite is a widely accessible, low-cost building material that fits practical needs such as heat resistance, scratch resistance, and stain resistance while also being visually pleasing. As a result, the category is projected to dominate the market in the future. Due to high demand in Asia, the granite segment dominated the global market.
The Limestone segment expansion is being driven by the widespread use of limestone in road bases, railroad ballast, foundation stone, drain fields, concrete aggregate, and other building applications. The latest developments in the luxury marble industry include biophilic design, marble kitchen surfaces, numerous hues, and fluted treatments.
Slate is commonly used on kitchen and bathroom floors because it is resistant and has an opulent appearance. Because slate tiles are resistant to thaw and freeze cycles, outside usage is one of the fastest-growing uses.
Natural Stone And Marble Market Analysis by Application
Due to its broader applications, the building & construction segment maintained the largest market share in 2021. The building and construction category dominates the market, accounting for more than 68% of the total value. Residential structures are the primary drivers of growth in this market category. Stones are durable building materials that may be utilised in a variety of ways. Fine-grained granite is used in heavy engineering projects such as bridge piers, breakwaters, and other structures. Granite and compact sandstones are utilised for masonry construction in industrial areas exposed to smoke and fumes. The façade of buildings are composed of marble, granite, and sandstone. Limestone and sandstone are commonly used in building. Compact limestone and sandstone are used in fire-resistant building. Granite and quartzite stones, on the other hand, are used in foundations in places with high groundwater levels. Marble, slate, sandstone, and granite are used for floor paving. As a result, increased applications in the construction industry are driving segment expansion in this market.
The monumental category is the market's fastest-growing segment, owing to a surge in monument construction throughout the world, particularly in Asia Pacific. Similarly, several monumental initiatives have been suggested by regional governments in various nations, which are anticipated to support the monumental segment's growth. Stone furniture and ornamental goods are two other natural stone uses. Stone furniture is growing popular for enhancing the appearance of external houses and gardens. Stones are used to make natural stone benches, garden sets, outdoor benches, garden tables, stone dining & coffee tables, and other furniture. Natural stones, on the other hand, are utilised to produce architecturally stunning showpieces due to their exceptional durability and aesthetic appeal. Despite having the smallest market share, this category is expected to develop significantly in the future due to an increasing customer base for the same over the world.
Global Natural Stone and Marble Market By Application , 2021 (%)
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Natural Stone And Marble Market Regional Insights
In 2021, the Asia Pacific dominated the global market. China has the largest regional market share, owing to increased demand from the building industry, followed by India. China and India are the world's biggest producers of natural stones. China and India jointly accounted for more than 40% of worldwide natural stone output. These countries export a considerable portion of their products to all major consuming countries. Japan, South Korea, and Southeast Asia are all making substantial contributions to the expansion of the Global Natural Stone and Marble Market. Because of Western culture's growing emphasis on emerging countries, demand for natural stones.
Europe will hold the second-largest proportion of the worldwide market in 2021. The majority of the regional market is accounted for by Western European nations such as Italy, Germany, and France. Furthermore, because to increased renovation activity, eastern and central European nations contribute to market growth. However, the severe environmental regulations placed on sourcing and using natural building materials provide a significant hurdle for small businesses seeking to expand in this industry memorial applications is projected to rise in the near future.
The United States is the leading market for all-natural stones in North America, with a well-established commercial and residential building sector. Higher consumer expenditure on refurbishment or remodelling operations is propelling the country's market growth. The house renovation sector rose 7.6% in the third quarter of 2021 compared to the same time in 2020, according to Harvard University's Joint Center for Housing Studies.
In the Middle East, the growing emphasis on natural stones through International Stone Events is critical to the growth and sustainability of the natural stone industry and supply chains. For example, 'Middle East Stone' is the Middle East's largest annual trade fair dedicated to the stone sector. The exhibition showcases the most innovative natural stone, ceramic goods and tiles, as well as installation and maintenance solution suppliers from over 30 nations. The expanding middle-class population, disposable money, and improved urbanisation are the primary drivers of building in Africa. The building markets in South Africa, Nigeria, and Ethiopia are expanding rapidly, fuelling the use of natural stone for flooring, cladding, kitchen worktops, and bathroom applications.
Global Natural Stone and Marble Market By Region, 2021-2028
- Largest
- Fastest
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Natural Stone And Marble Market Dynamics
Natural Stone And Marble Market Driver
- Natural stone products are more durable than imitation stone products and can last for decades with little maintenance. These stones can also be found in bathrooms, kitchens, and other public areas. The growing popularity of stone wall claddings among homeowners has also aided the growth of the Global Natural Stone and Marble Market.
- Competition from Ceramic Tiles, despite rising demand for genuine stone and marble, fake concrete blocks and ceramic tiles remain popular. Furthermore, they are affordable, making them an enticing alternative for nations with little disposable cash, hence influencing the growth of the Global Natural Stone and Marble Market.
Natural Stone And Marble Market Restraint
- Artificial Stone Adoption is growing, thus Slowing Growth, As Innovative technologies in alternative product categories like as ceramic and LVT enable producers to give highly accurate stone visuals at a fraction of the cost of raw stone. These rough surfaces are posing a challenge to the stone industry's expansion. However, because ceramic and LVT materials are often employed in floor applications, there is a significant possibility to install natural stone and marble in vertical situations.
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Natural Stone And Marble Market Competitive Landscape
Leading operating players are concentrating on acquiring local suppliers and increasing production capacity. Because natural stone supplies are unevenly distributed across the world, the global market is highly fragmented. Natural stone deposits are abundant in Turkey, Brazil, India, China, and Italy. The cost of the product is determined by the quality of the reserve and stone. Furthermore, contemporary technologies improve the manufacture of high-quality goods. Producers in these important nations are rapidly boosting their capacity by investing in quarrying technologies and equipment, purchasing small-scaled stone enterprises to increase their market position, and promoting their goods through social media platforms.
Natural Stone And Marble Market Top Player's Company Profiles
- Levantina y Asociados de Minerales, S.A.
- Polycor Inc.
- Vetter Stone Company
- Cosentino S.A.
- Laticrete International, Inc.
- Indiana Limestone Company, Inc.
- Delta Stone Products, Inc.
- Dimpomar, Rochas Portuguesas, Lda.
- Hanwha L&C Corporation
- Hilltop Granites
- Pokarna Limited
- The Stone Quarry of Jupiter, Inc.
- Duracite, Inc.
- Rock Solid Granite & Marble, Inc.
- Universal Marble & Granite Group Ltd.
- USA Marble LLC
- Caesarstone Ltd.
- AGM Imports
- Marble of the World
- Granitex Corp.
Natural Stone And Marble Market Recent Developments
- In March 2022, Dermitzakis Bros S.A. completed the first phase of its new stone factory in Drama. With the production capacity expansion, the company is aiming to strengthen its position in Europe and international markets.
- In May 2021, Cupa Group agreed to buy Pizarras Lomba, a Spanish manufacturer of natural slate for roofing. The transaction, which represents Cupa's most recent acquisition, further demonstrates the company's upward sales.
- In April 2021, Polycor planned to be carbon neutral by the end of 2025. The company is the first natural stone quarrier to pledge to carbon neutrality and one of the first companies to occupy a leading position in the critical work of decarbonization.
Natural Stone And Marble Key Market Trends
- Natural building materials are gaining popularity as the construction industry strives for more sustainability. Customers are ready to pay a premium for the natural and long-lasting appearance of real stone and marble. Premium buyers are also increasing their desire for pricey natural stones such as White Statuario marble. These items are commonly utilised for ornamental purposes in high-end constructions, home remodelling, and restoration projects. The market demands for the vibrant colours and vein patterns. Due to the tremendous popularity of these stones, demand is expected to remain robust during the projected period. Furthermore, many clients like the colour white. Natural stone and marble exterior residential uses are therefore on the rise.
Natural Stone And Marble Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Natural Stone and Marble Market analysis, granite stone segment dominates the market because of durability and low cost. And in terms of application, buildings and constructions segment exhibit fastest growth of residential and commercial houses. Moreover, rising residential sector and demand for luxurious natural stone drives the market growth whereas, the production of duplicates of natural stones and marble can hamper the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 34092.41 million |
| Market size value in 2031 | USD 48524.13 million |
| Growth Rate | 4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Natural Stone And Marble Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Natural Stone And Marble Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Natural Stone And Marble Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Natural Stone And Marble Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Natural Stone And Marble Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Natural Stone And Marble Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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