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Marble Market is Expected to Showcase a CAGR Of 4% Due to Increasing Modern Designs Imprinted on Natural Stones and Marble

Mohit Joshi
Marble Market is Expected to Showcase a CAGR Of 4% Due to Increasing Modern Designs Imprinted on Natural Stones and Marble

According to a new report published by UnivDatos Markets Insights, the Marble market was valued at USD 19.51 Million in 2021 & is expected to grow at a CAGR of 4% from 2023-2030. The analysis has been segmented into Color (White, Yellow, Red, Black, and Others); Applications (Building & Construction, Statues & Monuments, Furniture, and Others); and Region/Country.

The Marble market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Marble market. The Marble market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Marble market at the global and regional levels.

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Key Market Opportunity

Modern designs imprinted on natural stones and marble are a major driver of the growth of the marble market. This is because natural stones and marble are highly valued for their beauty, durability, and versatility, and they are often used in modern design to create a sense of luxury and sophistication.

In recent years, there has been a growing trend towards the use of natural stones and marble in modern design. This is because these materials are highly versatile and can be used in a wide range of applications, including flooring, countertops, wall tiles, and more.

Modern designs imprinted on natural stones and marble often feature unique patterns, textures, and colors that are created with advanced technology and techniques. These designs can be used to create a wide range of effects, from subtle and understated to bold and eye-catching.

For example, modern designs imprinted on natural stones and marble can be used to create unique patterns on flooring or wall tiles or to create eye-catching countertops or backsplashes. These designs can also be used to create unique accents or focal points in a room, such as a fireplace or a vanity.

COVID-19 Impact

Several industries including the marble market, faced unprecedented challenges due to the outbreak of the COVID-19 pandemic. The shortage of raw materials and labor, shutdown of factories, and other operational difficulties induced by safety protocols adversely affected the Marble market. However, vaccination drives have led to a rise in business activities worldwide. The economies are reviving their operations. Thus, the demand for Marble is expected to rise globally in the coming years.

·       Based on color, the marble market is segmented into white, yellow, red, black, and others. White color marble is expected to grow with a robust CAGR during the forecast period.

·       Based on application, the marble market is divided into building & construction, statues & monuments, furniture, and others. Among all, building & construction held a prominent market share in 2022.

Have a Look at the Chapters- https://univdatos.com/report/marble-market-2/

Marble Market Geographical Segmentation Includes:

·       North America (U.S., Canada, and the Rest of North America)

·       Europe (Germany, UK, Spain, France, Italy, Rest of Europe)

·       Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)

·       Rest of the World

Asia-Pacific is expected to grow significantly during the forecast period. This is mainly owing to the region being home to a large and growing middle class, which is increasingly affluent and has a higher disposable income. This has led to an increase in demand for luxury goods, including marble, which is often associated with high-end and exclusive products. Additionally, the region has a large and growing construction industry, which is a major consumer of marble. Marble is used in the production of a wide range of building materials, including countertops, flooring, and wall tiles, as well as in the production of sculptures and other decorative elements. Moreover, many large and growing tourism industry, which is another major consumer of marble. Marble is often used in the construction of hotels, resorts, and other tourist attractions, as well as in the production of souvenirs and other gift items. Thus, such factors are increasing the demand for marble across the region.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Marble market. The major players have been analyzed by using research methodologies such as Porter’s Five Forces Analysis for getting insight views on global competition.

Click here to view the Report Description & TOC- https://univdatos.com/report/marble-market-2/

Recent Developments:

·       In February 2022, Cupa Group, through Burton Roofing, announced the acquisition of 100% Discount Roofing, a firm that specializes in the distribution of roofing products. Via this deal, the company strengthened its presence in the British market and maintained its leadership position in the slate industry.

·       In November 2021, Fox Marble signed a joint venture partnership with the Al Bab Al Mumtaz Group in the UAE. As per the agreement, Fox Marble will supply marble slabs and tiles processed in its factory in Kosovo to Al Bab Al Mumtaz Group for sale via its range of outlets in the region.

·       In April 2021, Polycor announced its strategy to achieve carbon neutrality by the end of 2025. The company became the first natural stone manufacturer to pledge to achieve carbon neutrality and is among the leading companies in the critical work of decarbonization.

Mohit Joshi
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