Increasing construction activities is one of the key factors driving the marble market growth. The transformation in the construction industry and the requirement for building materials has led to modification and growth in the marbles.
According to the UnivDatos Market Insights Analysis, the rising construction activities will drive the global scenario of the marble market and as per their “Marble Market” report, the global market was valued at USD 19.5 million in 2022, growing at a CAGR of 4% during the forecast period from 2023 - 2030 to reach USD billion by 2030.
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In the modern age of competition, consumers are getting more watchful towards the beauty and design of marbles. Marble can also take a very high polish. Thus, it is also used in making sculptures and in the construction of monuments. Moreover, in comparison to other natural stones marbles have higher durability. This, coupled with the fact that marbles can be easily carved and its demand from the art and craft industry is projected to aid in the expansion of this market during the forecast period. For instance, in 2021, Fox Marble signed a joint venture agreement with Al Bab Al Mumtaz Group in the United Arab Emirates. Al-Bab Al Mumtaz Group is a wholesaler of flooring solutions to customers in the UAE and MENA region.
Moreover, Companies operating in the global marble market are indulging in collaborative agreements such as mergers and acquisitions, product launches, and similar strategies to obtain the top position in the market competition. Besides this, players are focusing on geographical expansion to increase their brand presence in the overall market. For instance, in 2019, Роlyсоr, Inс. acquired the Stone Соmраny, Inс. (USА), to strengthen the соmраny's leading роsitiоn as а global mаnufасturer of the рrоduсt thus expanding the роrtfоliо of solid, lаndsсарes and other natural products.
Increasing construction activities globally leads to high consumption of marble mainly in flooring, walls, and columns. Further, furniture is likely to witness a considerable growth rate owing to shifting trends of marble tables instead of wooden tables. For instance, the development of the Palva industrial township in Zaheerabad integrated industrial township, and many other projects involving public and private investments with a total of USD 29.38 billion are boosting the sector.
In addition to this, as per the National Bureau of Statistics of China, the value added to the Chinese construction industry accounted for CNY 8,013.8 billion (~USD 1,241.87 billion) in 2021, compared to CNY 7,244.5 billion (~USD 1,050.33 billion) in 2020.
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Conclusion
Marble is used in making sculptures and in the construction of monuments. Different types of marble are used in the construction industry. A wide range of white marble with different textures and patterns is most widely used in the construction of decorative or architectural infrastructures and sculptures. Marble is a popular choice for builders and architects due to its strength, durability, and beauty. In the construction industry, marble is used for a wide range of applications, including the production of building materials such as countertops, flooring, and wall tiles.
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