Artificial Marble Market to Grow at 9.7% CAGR, Hitting USD 18.03 Bn by 2030

► Artificial Marble Market Set to Surge: Projected to Reach USD 18.03 Billion by 2030 at 9.7% CAGR
The global artificial marble market is poised for significant growth, with projections indicating a rise from USD 9.43 billion in 2023 to USD 18.03 billion by 2030, reflecting a robust CAGR of 9.7% during the forecast period. This surge is attributed to increasing infrastructure development, especially in developing countries, and the material's cost-effectiveness, low maintenance, and environmental benefits.

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► Competitive Landscape

Key players shaping the artificial marble market include Aristech Surfaces LLC, Hyundai L & C Europe GMBH, Kuraray Co., Ltd, LG Hausys Ltd., Marmil SA, Lotte Chemical, Guangdong Chuanqi Compound Stone Co., Ltd, GuangTaiXiang Stone Co. Ltd, Fujian Pengxiang Industrial Co., LTD., Wanfeng Compound Stone Technology Co., Ltd., Yunfu Liji Stone Co., Ltd, Bitto Industry (Dongguan) Co., Ltd., Jordan Marble and Granite, Brown Stone Korea, Cxun Holding Group Co., Ltd., and XiShi Group.

► High Demand Regions

Asia Pacific held 42.45% of the market share in 2023 and is expected to maintain its dominance over the forecast period. Growth in the construction industry and an increase in residential complexes are major factors driving the artificial marble market in this region. Moreover, increasing disposable income and rising urbanization in economies such as India and China are expected to create lucrative opportunities.

• Artificial Marble Growth in the United States: Construction Boom Fuels Market Expansion
The United States artificial marble market is experiencing significant growth, with a market size of USD 3,079.69 million in 2024 and an anticipated CAGR of 8.6% from 2024 to 2031. This expansion is driven by increased construction activities and rising demand for artificial marble in residential and commercial projects.

• Artificial Marble Opportunities in Asia Pacific: Urbanization and Infrastructure Development Drive Demand
Asia Pacific is expected to witness the fastest growth in the artificial marble market, with a projected CAGR of 7.5%. Rapid urbanization, increasing disposable incomes, and government initiatives to promote affordable housing and infrastructure development are driving demand in this region. China and India are key markets, supported by extensive construction activities and a growing preference for aesthetically pleasing and cost-effective building materials.

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• Artificial Marble Trends in Europe: Sustainable Construction Practices Boost Market
Europe's artificial marble market is thriving due to the increasing adoption of sustainable construction practices and a growing preference for high-end residential and commercial properties. Countries like Germany, France, and Italy are leading the market, contributing approximately 25% to the total global artificial marble market. The demand for solid surface materials in kitchen countertops and facades is particularly high, driven by consumer preferences for affordable yet durable alternatives to traditional marble and granite.

• Artificial Marble Consolidation in the Middle East and Africa: Infrastructure Projects Propel Market Growth
The Middle East and Africa region is experiencing steady growth in the artificial marble market, holding around 2% of the global revenue with a market size of USD 195.16 million in 2024. The region is expected to grow at a CAGR of 10.3% from 2024 to 2031. Extensive infrastructure development and a high demand for luxurious and aesthetically pleasing building materials are driving this growth. Countries like the UAE, Saudi Arabia, and South Africa are witnessing significant investments in high-end residential and commercial projects.

► Recent Developments: Mergers and Acquisitions Shape the Industry
In August 2024, LOTTE Chemical Corporation launched the 'Premiere Collection,' a new artificial marble series under its engineered stone brand, Staron. In April 2024, Corian (DuPont) introduced Corian Quartz to the North American market, expanding its product offerings.

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► Market Segmentation: In-Depth Analysis:

• by Type

Polyester artificial marble
cement artificial marble
composite artificial marble
sintered artificial marble

In 2023, sintered type accounted for 39.67% of the market, and it is anticipated to continue to dominate for the duration of the forecast period. Because sintered artificial marbles come in a variety of sizes and forms and may be tailored to meet specific needs, they are used in both residential and non-residential settings. These marbles are used extensively in wall, flooring, and roofing goods because of their inexpensive cost and attractive, opulent appearance, which draws in customers.

• by Application

Flooring
Countertops
Vanity tops
Bathtubs
Wall panels
Shower stalls
Others

Flooring is anticipated to maintain its dominance during the projected period, having maintained a 41.65% market share in 2023. The largest market for marble is the flooring application segment; artificial marble is used for a variety of flooring applications, including external walls, stairways, kitchen platforms, flooring, and sculpture. In the building business, artificial marble is utilized not only for aesthetic purposes but also as a functional filler for external walls, concrete aggregate, staircases, pavements, and floor coverings.

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► Learn about the top players driving innovation in the Market :

1. Aristech Surfaces LLC
2. Hyundai L & C Europe GMBH
3. Kuraray Co., Ltd
4. LG Hausys Ltd.
5. Marmil SA
6. Lotte Chemical
7. Guangdong Chuanqi Compound Stone Co., Ltd
8. GuangTaiXiang Stone Co. Ltd
9. Fujian Pengxiang Industrial Co., LTD.
10. Wanfeng Compound Stone Technology Co., Ltd.
11. Yunfu Liji Stone Co., Ltd
12. Bitto Industry (Dongguan) Co., Ltd.
13. Jordan Marble and Granite
14. Brown stone korea
15. Cxun Holding Group Co., Ltd.
16. XiShi Group

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