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Navigating the Global Artificial Marble Renaissance (2021-2031): Crafting Elegance

11-23-2023 02:00 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Navigating the Global Artificial Marble Renaissance

Allied Market Research presents a comprehensive report, "Artificial Marble Market by Product type, Application, End User: Global Opportunity Analysis and Industry Forecast, 2021-2031." The global artificial marble industry, valued at $2.88 billion in 2021, is poised for remarkable growth, projected to reach $4.58 billion by 2031. This anticipated surge, with a CAGR of 4.7% from 2022 to 2031, is meticulously examined in the report, providing readers with a thorough analysis of market trends, key segments, investment opportunities, value chains, competitive scenarios, and regional landscapes.

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Key Growth Drivers:

The global artificial marble market is experiencing robust growth fueled by the upswing in construction activities and the widespread adoption of artificial marble in various applications such as walls, flooring, furniture, countertops, and more. The market is further propelled by the distinct advantages of artificial marble over natural marble, including cost-effectiveness, easy remodeling, high durability, easy maintenance, and enhanced aesthetic appeal. Concurrently, significant investments in building expansion and renovation projects, coupled with the resurgence of tourism, are creating lucrative opportunities within the industry.

Determinants of Growth:

Product Diversity and Advantages:

Polyester artificial marble holds a significant share and is expected to dominate by 2031, driven by its increased adoption in decorative mosaics and landscaping.

The composite artificial marble segment is set to manifest the fastest CAGR of 5.9% from 2022 to 2031, offering a seamless look and uniformity in colors and design for large areas.

Application Dynamics:

The flooring segment is anticipated to dominate the market throughout the forecast period, holding nearly half of the global artificial marble market in 2021.

Countertops are expected to witness the fastest CAGR of 6.9% by 2031, playing a crucial role in providing a contemporary look to large restaurant kitchens.



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End-User Landscape:

The residential segment, contributing to over half of the global artificial marble market in 2021, is expected to maintain dominance by 2031.

The non-residential segment is projected to exhibit the fastest CAGR of 5.4% from 2022 to 2031, driven by increased installations in offices, restaurants, commercial establishments, and public infrastructures.

Regional Growth Dynamics:

Asia-Pacific, generating over two-fifths of the global artificial marble market in 2021, is poised to maintain its dominance, with the fastest CAGR of 5.8% by 2031.

Ongoing infrastructure development in China and India is a significant driver of market growth.



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Conclusion:

The global artificial marble market is experiencing a renaissance, driven by a confluence of factors such as construction activities, product advantages, and diverse applications. The report not only unravels the current and emerging trends but also provides valuable forecasts and insights, making it an indispensable resource for industry stakeholders navigating the flourishing artificial marble market.

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Key Industry Players:

The market is characterized by the presence of key players including Classic Marble & Stone, Aristech Surfaces LLC, LX HAUSYS, Yunfu City Liji Stone Co., Ltd. Engineering, XISHI GROUP LTD, Owell, Southland Stone, Cupa Group, DuPont, Guangdong Legend Stone Co., Ltd, Hari Stones Ltd, Hfrtub Co. Ltd., Hyundai L & C Europe GMBH, Kalinga Stone, WANFENG, Lotte Chemical, MARMIL S.A., and others. These industry leaders are adopting strategies such as product launches, partnerships, business expansions, and acquisitions to fortify their global market presence.

https://www.alliedmarketresearch.com/artificial-marble-market

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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