Artificial Marble Market Set to Exceed $4.5 Billion by 2031: Sculpting the Future:

Allied Market Research's latest report, "Artificial Marble Market," unveils a prosperous outlook for the industry, with the market size reaching $2.88 billion in 2021 and projected to reach $4.58 billion by 2031, showcasing a robust Compound Annual Growth Rate (CAGR) of 4.7% from 2022 to 2031.

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The artificial marble market has witnessed substantial growth in recent years, fueled by increased investments in infrastructure across residential, non-residential, airports, malls, and other sectors. Renovation and reconstruction projects in existing buildings, including residential and office spaces, are further propelling the market. The advantages of artificial marbles, such as cost-effectiveness, high durability, and enhanced aesthetics, are key factors driving market growth. Industry leaders adopting diverse strategies contribute to the continued growth of the artificial marble market.

Artificial marble, a human-made stone comprising marble debris, cement, sand, and acrylic glue in precise proportions, offers a diverse range of colors and textures. Homeowners benefit from easy customization, shaping, and low maintenance associated with artificial marbles.

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A primary growth driver for the artificial marble market is the global expansion of residential and non-residential construction. The increased demand for artificial marble in construction applications, including flooring, walls, countertops, and furniture, is a significant contributor to market growth. Various countries' governments are investing in the residential sector to accommodate the rising population and improve living standards. For instance, the German government introduced new residential construction targets in December 2019, updating and relaunching incentive schemes for efficient residential buildings and refurbishment in early 2020.

In 2021, Asia-Pacific claimed the highest market share in the artificial marble market and is expected to maintain a high CAGR during the forecast period. This growth is attributed to the increasing residential sector, driven by population growth and rising income levels. Renovation activities in developing countries and the construction of new buildings create ample opportunities for artificial marbles in interior spaces such as flooring, kitchen countertops, and walls, boosting the growth of the artificial marble market in the Asia-Pacific region.

The COVID-19 pandemic forced temporary business closures for various artificial marble manufacturers in countries like China, the U.S., and India, impacting sales. The shortage of manpower and raw materials also affected the supply chain for artificial marble equipment, hindering market growth. However, the reopening of production facilities and the introduction of vaccines for COVID-19 are expected to rejuvenate the artificial marble market.

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Key Findings of the Study:

The report provides an extensive analysis of current and emerging global artificial marble market trends and dynamics.

The polyester artificial marble segment dominated the market in terms of revenue in 2021, while composite artificial marble is projected to grow significantly during the forecast period.

The flooring segment registered the highest revenue in 2021 based on application.

Asia-Pacific is projected to register the highest growth rate in the coming years.

The report profiles key players in the global artificial marble market, offering insights into their strategies and competitive outlook.

An in-depth analysis of current trends and emerging opportunities in the artificial marble market is provided.

The report includes a forecast analysis from 2022 to 2031, outlining estimations for key segments in the artificial marble market.



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