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Natural Stone and Marble Market size is expected to rise from USD 51.76 billion in 2022 to USD 68.06 billion by 2029 at a CAGR of 4.0%

01-25-2023 12:30 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fortune Business Insights

Natural Stone and Marble Market

Natural Stone and Marble Market

The natural stone and marble market size was valued at USD 48.80 billion in 2021. The market size is expected to rise from USD 51.76 billion in 2022 to USD 68.06 billion by 2029 at a CAGR of 4.0% during the forecast period. Fortune Business Insights™ publishes this information in a report titled, "Natural Stone and Marble Market, 2022-2029". According to the report. The market is expected to rise during the projected period due to increasing demand for natural stones for decorative applications.

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This Natural Stone and Marble market research report business, product managers, investors, and entrepreneurs with a comprehensive and exhaustive exploration of the market and its key elements. Seasonal patterns and market changes are investigated in the Natural Stone and Marble market research. The report describes the major external variables of the Natural Stone and Marble market. It assesses the current performance and profit growth of the market using analytics from 2023-2029. This Natural Stone and Marble research report provides a detailed analysis of the crucial factors affecting the growth of the industry.

List of Key Players Profiled in the Market Report for Natural Stone and Marble:

Companies covered in the natural stone and marble market are Polycor Inc. (Canada), 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), Temmer Marble(Turkey), Southland Stone USA, Inc. (The United States), Xishi Stone Group (China), CUPA Group (Spain), Aro Granite Industries Ltd. (India), and others.

Drivers & Restraints:

Rising Demand for Natural Stones to Propel Market Growth

The market is anticipated to grow significantly during the forecast period due to increasing demand from the construction industry. Also, consumers are adopting natural stones to create decorative pieces for residential and commercial sectors. The rapid growth in population and increased earning capacity of consumers are anticipated to drive the market in the coming years.

However, increasing the adoption of artificial stones may hamper the market growth during the projected period.

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Regional Insights:

Asia Pacific Dominates the Market Share Due to Infrastructural Development

Due to increasing construction activities, Asia Pacific holds the highest global natural stone and marble market share during the forecast period. Also, developing infrastructure in emerging countries is expected to fuel market growth during the projected period. The regional market stood at USD 28.15 billion in 2021.

Europe is expected to grow at a fast pace during the forecast period, owing to increasing renovation activities. Also, strict environmental regulations on using natural building materials, including natural stone and marble are expected to drive the market.

Competitive Landscape:

Strategic Acquisition Allow Companies to Strengthen their Positions

Key market players focus on creating strategic alliances, acquisitions, collaborations, and partnerships. These strategies allow companies to expand their business reach and increase productivity and profitability. Also, new product development and innovation ideas will allow key players to enhance their product portfolio.

The main research methodology applied here by the research team is data triangulation, which includes data mining, analysis of the impact of data variables on the market, and primary (market experts) validation. This report helps to gather information about all the above factors by providing actionable market insights and comprehensive analysis. The Natural Stone and Marble market report mainly focuses on important aspects of the market which include historical data, current market trends, environment, technological innovations, upcoming technologies, and technological advancement in the market among others.

The report focuses on the world's largest and most significant market participants, including company profiles, product specifications, pricing, costs, and contact information. This statistical study illustrates the Market's growth prospects. It also sheds insight into the worldwide Market market segmentation. This study also includes information on geographical classification and its influence on worldwide Natural Stone and Marble Market demand. The size was large in the previous figure time frame, and it is expected to achieve much higher esteems in the present speculation time period 2022 to 2029. The CAGR rate is also predicted to fill in the present time period. The report's 130 Pages provide important facts about the market's state and are a great resource for businesses and direction for companies and individuals interested in the market.


Granite Segment to Lead Market Due to Rising Demand

Based on product type, the market of natural stone and marble is segregated into granite, limestone, marble, sandstone, slate, and others. The granite segment is expected to lead the market during the forecast period due to its increasing demand in Asian countries. Also, the quality and durability parameters bolster segment growth.

Building & Construction Segment to Dominate Market Due to Wider Applications

On the basis of application, the market is categorized into building & construction, monumental, and others. The building and construction segment is anticipated to witness significant growth during the forecast period due to increasing construction activities in the commercial, residential, and industrial sectors.

Geographically, the market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Report Coverage:

The report highlights complete information regarding market growth and development in recent years. Also, drivers and restraints affecting the market growth during the forecast period are given further in this report. Furthermore, the impact of COVID-19 pandemic on market expansion is discussed along with the key market players' business development strategies. Regional market insights and a list of prominent market players are highlighted further in this report.

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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