The global artificial marble market size was valued at $2,876.4 million in 2021, and is projected to reach $4,575.2 million by 2031, registering a CAGR of 4.7% from 2022 to 2031.
Artificial marbles are made up of combination of granite with gypsum or crushed marble, polyester resin, sand and cement. The appearance of marble stone is created by using crushed rocks as filler, colors, and resin as a binder. It is also called composite, synthetic, cultured marble stones. Various materials such as sand, cement, powder, acrylic glue and many more are mixed together under high pressure in vacuum to solidify the mixture or solution into hard artificial marble stone.
In addition, the expansion of the construction sector due to increase in new construction and refurbishment of existing structures. The need for new building to meet residential, commercial, and commodities needs as well as increasing construction of hotels, malls and airports are driving the artificial marble market growth. Artificial marbles have various advantages over natural marbles such as easy maintenance, low cost, variety of color and textures, easily remolded and reshaped, highly durable and hassle-free, which is projected to help sustain the demand for artificial marble stones.
Moreover, renovation and reconstruction of existing homes and commercial properties are expected to drive the market growth. For instance, in year 2020, European Commission has announced “Renovation Wave” initiative for public and private buildings, which has set an aim of substantially increasing the renovation rates across the EU and to provide a framework for renovation to support the green building. The plan states that the additional investment needed to reach EU 2030 energy and climate targets is around $385 billion annually, with approximately $295 billion for residential and $90 billion for public buildings. Hence, such factors are expected to provide lucrative growth opportunities in the artificial marbles market.
The market is segmented on the basis of product type, application, end user and region. On the basis of product type, the market is divided into polyester artificial marble, cement artificial marble, composite artificial marble, and sintered artificial marble. On the basis of application, the market is divided into new construction and renovation & reconstructing. On the basis of end user, the market is divided into residential and non- residential. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia, Poland, Netherland, Sweden and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Indonesia, Vietnam and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, UAE, South Africa, Nigeria and Rest of LAMEA).
Artificial marbles are made up of combination of granite with gypsum or crushed marble, polyester resin, sand and cement. The appearance of marble stone is created by using crushed rocks as filler, colors, and resin as a binder. It is also called composite, synthetic, cultured marble stones. Various materials such as sand, cement, powder, acrylic glue and many more are mixed together under high pressure in vacuum to solidify the mixture or solution into hard artificial marble stone.
In addition, the expansion of the construction sector due to increase in new construction and refurbishment of existing structures. The need for new building to meet residential, commercial, and commodities needs as well as increasing construction of hotels, malls and airports are driving the artificial marble market growth. Artificial marbles have various advantages over natural marbles such as easy maintenance, low cost, variety of color and textures, easily remolded and reshaped, highly durable and hassle-free, which is projected to help sustain the demand for artificial marble stones.
Moreover, renovation and reconstruction of existing homes and commercial properties are expected to drive the market growth. For instance, in year 2020, European Commission has announced “Renovation Wave” initiative for public and private buildings, which has set an aim of substantially increasing the renovation rates across the EU and to provide a framework for renovation to support the green building. The plan states that the additional investment needed to reach EU 2030 energy and climate targets is around $385 billion annually, with approximately $295 billion for residential and $90 billion for public buildings. Hence, such factors are expected to provide lucrative growth opportunities in the artificial marbles market.
The market is segmented on the basis of product type, application, end user and region. On the basis of product type, the market is divided into polyester artificial marble, cement artificial marble, composite artificial marble, and sintered artificial marble. On the basis of application, the market is divided into new construction and renovation & reconstructing. On the basis of end user, the market is divided into residential and non- residential. Region-wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, Spain, Russia, Poland, Netherland, Sweden and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Indonesia, Vietnam and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, UAE, South Africa, Nigeria and Rest of LAMEA).
COMPETITION ANALYSIS
The key players that operating in the artificial marble market are Aristech Surfaces LLC, Classic Marble & Stone, Cupa Group, DuPont, Guangdong Legend Stone Co. Ltd, Hari Stones Ltd, Hfrtub Co. Ltd., Hyundai L & C Europe GMBH, Kalinga Stone, Lotte Chemical, LX HAUSYS, MARMIL S.A, Owell, Southland Stone, WANFENG, XISHI GROUP LTD and Yunfu City Liji Stone Co., Ltd.KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the artificial marble market analysis from 2021 to 2031 to identify the prevailing artificial marble market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the artificial marble market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global artificial marble market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product type
- Polyester Artificial Marble
- Cement Artificial Marble
- Composite Artificial Marble
- Construction type
- New Construction
- Renovation
- Sintered Artificial Marble
By Application
- Walls
- Countertops
- Others
- Flooring
By End User
- Residential
- Non-Residential
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Italy
- Spain
- Russia
- Poland
- Netherlands
- Sweden
- Rest of Europe
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Thailand
- Indonesia
- Vietnam
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- UAE
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
- Aristech Surfaces LLC
- Classic Marble & Stone
- Cupa Group
- DuPont
- Guangdong Legend Stone Co., Ltd
- Hari Stones Ltd
- Hfrtub Co. Ltd.
- Hyundai L & C Europe GMBH
- Kalinga Stone
- Lotte Chemical
- LX HAUSYS
- MARMIL S.A
- Owell
- Southland Stone
- WANFENG
- XISHI GROUP LTD
- Yunfu City Liji Stone Co., Ltd. Engineering
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ARTIFICIAL MARBLE MARKET, BY PRODUCT TYPE
CHAPTER 5: ARTIFICIAL MARBLE MARKET, BY APPLICATION
CHAPTER 6: ARTIFICIAL MARBLE MARKET, BY END USER
CHAPTER 7: ARTIFICIAL MARBLE MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Artificial Marble Market," the artificial marble market size was valued at $2.88 billion in 2021, and is estimated to reach $4.58 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.Artificial marble is human made marble stone with a combination of marble debris, cement, sand, acrylic glue mixed in a proper portion. Artificial marble is available in variety of colors and texture, which offers more diverse range of selection for homeowners. Moreover, artificial marbles are easy to shape and modify and cost less maintenance.
One of the primary factors driving the growth of the artificial marble market is the global expansion of the residential and non-residential construction. The rise in demand for artificial marble in the construction industry for the purpose of flooring, walls, countertops, furniture and others are driving the market growth. Governments of various countries are investing in the residential sector due to rise in population and for better living standards. For instance, in December 2019, new residential construction targets were introduced by the German government. Several incentive schemes for efficient residential buildings and refurbishment were updated and relaunched at the beginning of 2020 to help meet these goals. Hence, due to rise in population, these investments in construction sector will increase the utilization of artificial marble and hence will drive the artificial marble market forecast period.
Asia-Pacific has registered the highest artificial marble market share in 2021, and is expected to grow with a high CAGR during the forecast period. This is attributed due to growth in the residential sector owing to rise in population and income level. Moreover, rise in renovation activities in the developing countries, as well as an increase in the construction of buildings, will provide a wide range of opportunities for artificial marbles to be used for flooring, kitchen countertops, and walls and many such interior spaces, which boost the Asia-Pacific artificial marble market growth.
However, during the COVID-19 pandemic, various manufacturers in the artificial marble market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of artificial marble companies. In addition, lack of manpower and raw materials also constricted supply of equipment of artificial marble system, which negatively influenced the growth of the market. However, the reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of artificial marble companies.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging global artificial marble market trends and dynamics.
- Depending on product type, the polyester artificial marble segment has dominated the artificial marble market, in terms of revenue in 2021 and composite artificial marble is projected to grow at a significant CAGR during the forecast period.
- By application, the flooring segment has registered highest revenue in 2021.
- Asia-Pacific is projected to register highest growth rate in the coming years.
- The key players within the global artificial marble market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the artificial marble industry.
- The report provides an extensive analysis of the current trends and emerging artificial marble market opportunities.
- In-depth global artificial marble market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
Companies Mentioned
- Aristech Surfaces LLC
- Classic Marble & Stone
- Cupa Group
- Dupont
- Guangdong Legend Stone Co. Ltd
- Hari Stones Ltd
- Hfrtub Co. Ltd.
- Hyundai L & C Europe GmbH
- Kalinga Stone
- Lotte Chemical
- Lx Hausys
- Marmil S.A
- Owell
- Southland Stone
- Wanfeng
- Xishi Group Ltd
- Yunfu City Liji Stone Co. Ltd. Engineering
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 290 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 2876.4 million |
| Forecasted Market Value ( USD | $ 4575.2 million |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
