Natural Stone and Marble Market to Record CAGR of 4.6% Over 2024-2032; Rising Popularity of Imprinted Natural Stones and Marble to Fuel Market Growth

The global natural stone and marble market size was valued at USD 3.29 billion in 2023 and is predicted to reach USD 3.43 billion in 2024. The market is anticipated to touch USD 4.91 billion by 2032, recording a CAGR of 4.6% over 2024-2032.

Fortune Business Insights™ presents this information in its latest report titled “Natural Stone and Marble Market Size, Share & Industry Analysis, By Type (Granite, Limestone, Marble, Sandstone, Slate, and Others), By Application (Building & Construction {Flooring, Wall Cladding, and Paving}, Monumental, and Others {Sculptures and Memorial Art}), and Regional Forecast, 2024-2032”.

Natural stones are primarily used as building materials in the construction industry for various monumental and decorative purposes. The rising demand for luxurious natural stones in decorative applications is expected to drive market growth. Additionally, the use of these stones in cladding and paving is anticipated to increase the demand for natural stones further.

The COVID-19 pandemic significantly disrupted the natural stone and marble industry. Lockdowns, social distancing measures, and the closure of construction activities led to a decline in market growth. The complete halt of stone transportation from quarries to processing sites impacted the supply chain. However, with the easing of restrictions, the market began to recover in 2021 and is projected to experience steady growth in the coming years.

Rising Popularity of Imprinted Natural Stone and Marble to Fuel Market Growth

The application of modern designs on natural stone and marble is becoming increasingly popular among consumers, as it creates a unique appeal for those seeking distinctive and aesthetically pleasing surfaces. These designs feature geometric patterns, elaborate configurations, and personalized images, providing architects with enhanced options and thus driving the demand for imprinted natural stones and marble. These materials can seamlessly integrate into modern architectural styles. Innovative techniques such as CNC milling, waterjet cutting, and laser engraving allow for the creation of intricate and precise details on natural stones and marbles. Together, these factors contribute to the natural stone and marble market growth.

However, the demand for natural stone and marble remains lower compared to more affordable alternatives such as ceramic tiles and artificial concrete blocks. This affordability further limits market growth.

Cupa Group, through Burton Roofing, Acquired Discount Roofing to Increase its Market Presence

Cupa Group, through Burton Roofing, announced the successful acquisition of Discount Roofing, a leading distributor of roofing products in the U.K. With this acquisition, the company aimed to increase its market presence and maintain its dominant position in the growing industry.

Major Players to Focus on Expansion of Production Capacities to Strengthen Their Market Presence

The global natural stone and marble market is characterized by high fragmentation driven by the uneven distribution of resources. Countries capturing significant reserves of natural stones include Turkey, India, Brazil, China, and Italy. To strengthen their market presence, these countries are increasing their focus on expanding production capacities by making significant investments in quarrying technologies and equipment.

Notable Industry Development

• December 2021: Dermitzakis Bros S.A expanded its product offering by adding a new collection under the name Rosalia Βeige. This product featured a beige background along with swatches of pale light pink colors with burgundy veins.

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https://www.fortunebusinessinsights.com/natural-stone-and-marble-market-104040

List of the Companies Profiled in the Report

• Aro Granite Industries Ltd. (India)
• 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)
• Polycor Inc. (Canada)
• Temmer Marble (Turkey)
• Southland Stone USA, Inc. (U.S.)
• Xishi Stone Group (China)
• CUPA Group (Spain)

Further Report Findings

• The Asia Pacific region, valued at USD 1.79 billion in 2023, holds the largest natural stone and marble market share. China leads the regional market, followed by India. The two countries are the major producers of natural stones globally, and together, they hold more than 40% of the global natural stone production. These factors drive the region’s market growth.
• The European region held the second-largest share of the market for natural stone and marble. The region’s growth is due to countries such as France, Italy, and Germany holding the majority share of the regional market.
• Based on application, the building and construction sector dominated the market in 2023. The region’s growth is primarily attributed to residential buildings, with stones being the key materials for their construction.

Table of Segmentation