Marble Market worth $16 billion by 2025 | Key players Temmer Marble, Hellenic Granite Company, Fox Marble Holdings plc, California Crafted Marble, Inc., Topalidis S.A.

According to recent market research the "Marble Market by Color (White, Black, Yellow, Red, And Others), Application (Building & Construction, Statues & Monuments, Furniture), And Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast To 2025", The global marble market size is projected to grow from USD 13 billion in 2020 to USD 16 billion by 2025, at a CAGR of 3.6% from 2020 to 2025. Growth of the construction industry has led leading to high demand for building materials such as marble is anticipated to fuel the growth of marble market. High demand for residential and commercial infrastructure from the developing economies is driving the growth of building & construction segment.

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The building & construction segment is estimated to lead the marble market in 2020 in terms of value, due to the rising demand for residential and commercial infrastructure. Marble is widely used building & construction application in flooring, wall, roofing, columns, and exteriors. In addition, marble is among the leading natural stones preferred for construction of residential and commercial buildings. Construction is among the hard-hit industries due to COVID-19 pandemic outbreak. However, the building & construction segment is expected to witness growth from second half of 2020 in commercial and residential applications such as hospitals and township apartments.

Based on color, the white segment is estimated to witness highest growth in the marble market during the forecast period. White marble is highly suitable for structures that require luxurious and aesthetical appeal owing to its wide range of shades, textures, and patterns. Various renowned structures such as the Taj Mahal and the statue of Lincoln were made using very bright white marble. Asia Pacific is the largest consumer of white marble in applications such as building & construction, statues & monuments, and furniture.

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The marble market in the Asia Pacific region is projected to grow at the highest CAGR between 2020 and 2025. China, Japan, India, and South Korea are estimated to be the fastest growing markets in the region for marble during the forecast period. China and India were the largest consumers of marbles in the Asia Pacific region in 2019. Outbreak of COVID-19 from China and the impact of coronavirus in Japan, South Korea, Autralia, and India has caused a trivial decrease in the consumption of marbles. However, the consumption of marble is expected to resume from the second half of 2020.

Key market players covered in this report includes Levantina y Asociados de Minerales, S.A. (Spain), Temmer Marble (Turkey), Hellenic Granite Company (Greece), Fox Marble Holdings plc (UK), California Crafted Marble, Inc. (US), Topalidis S.A. (Greece), Dimpomar - Rochas Portuguesas Lda (Portugal), Polycor Inc. (Canada), Asian Granito India Limited (India), NAMCO CO. srl (Italy), Dal-Tile Corporation (US), Kangli Stone Group (China), Hilltop Granites (India), First Marble & Granite (Qatar), Santucci Group (Italy), Classic Marble Company (India), and DELTA Marble, Mining, Construction Import and Export Inc. (Turkey) among others.

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Levantina y Asociados de Minerales, S.A. is a global stone company that has accomplished a steady growth by expanding its reach across the globe since its establishment. It manufactures products, such as cream marble, marble, granite, porcelain, tiles, limestone & sandstone, quartzite, travertine, and other custom-made products out of natural stone. The company owns 7 factories (1 in Brazil and 6 in Spain), 2 project centers in Spain, and 20 distribution warehouses through which it has marked its global presence in more than 100 countries. The company also owns 20 stone centers in Spain, the UK, and the US.

Hellenic Granite Company is involved in manufacturing, processing, and trading of decorative stones such as marbles, granites, travertines, and different types of quartz surfaces. The company procures granite raw materials from countries around the world (India, China, Zimbabwe, Brazil, Spain, Portugal, Norway and Finland) and ready-made granite products from India and China. It also imports marble (processed and raw) from the international market. Since 2004, Hellenic Granite Company has also been a part of trading artificial decorative stones that include quartz and cultured marbles. It has acquired several other companies in the past years, including Finnish Quarry Company Granicon Oy, which exports to Asia and Europe. Most of Hellenic Granite Company's products are used for domestic and professional applications, which include important constructions and airports.

• In January 2019, Hellenic Granite Company launched EcoMarbles MAXFINE that are marbles made using natural methods at the FMG IRIS factories. They can also be developed with the advanced ACTIVE technology, which enables them to repel bacteria and dirt. They are ideal for residential, leisure, hotels, restaurants, gyms, schools, clinics, hospitals, and other areas requiring high levels of cleanliness and hygiene.

Temmer Marble has been an active player in the processing and manufacturing of products made from natural stone. The company owns one of the largest quarries in Turkey, which was its first investment. It owns six more quarries across the important marble reserve area in Turkey. The company owns one factory in Afyon, Turkey, which is the third-largest facility of its kind in the world. Temmer manufactures marbles in the form of blocks, cut-to-size products, and slabs. The other products that Temmer Marble manufactures include granite, onyx, travertine and porcelain. 80% of the company's products are exported to about 40 countries in Europe, North America, Central Asia, and Far East.

• In February 2017, as a part of expansion strategy, Temmer Marble inaugurated its new showroom and gallery at its world class factory, Afyon. This expansion will help the company to meet the demand for marble and other natural stones in the domestic market.

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