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.
Natural stone is predominantly referred to as the wide array of products quarried from the earth. These products are then used as decorative enhancements and building materials. The commonly found natural stones are marble, granite, slate, sandstone, travertine, onyx, and adoquin, among others.
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. Due to its great compressive strength, marble is used in many different sectors. Superior aesthetic, ornamental, and hydraulic binding qualities can be found in natural stone materials. In building and construction projects, marble is often used.
Marble reflects light well. This contributes to lower energy costs and aesthetic improvements. For the excavation of natural stones, quarries need skilled workers. The market for natural stones and marble is severely 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.
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Segmental Assessment
By Type:
• Marble
• Granite
• Limestone
• Others
The granite segment is slated to generate significant gains over 2022-2030 owing to its affordability and beneficial properties such as stain resistance, aesthetic appeal, and health resistance.
By Application:
• Flooring
• Memorial Arts
• Wall Cladding
• Others
The memorial arts segment is expected to amass notable returns over the estimated timeline. This is credited to the surge in the construction of monuments and memorial structure across the globe.
By Construction Type:
• New Construction
• Renovation
The new construction segment is likely to lead the overall market in terms of revenue share due to increasing accommodation needs of the masses and rise in disposable income levels.
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Competitive Hierarchy
The prominent players operating in the market sphere are 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), and Classic Marble Company (India).
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