Global Artificial Marble Market
Global Artificial Marble Market was valued at USD 6,520.28 Mn in 2019 and is expected to reach at USD 13,674.75 Mn by 2027 at a CAGR of 9.7 % over forecast period 2020-2027.
Global Artificial Marble Market
The report covers an in depth analysis of COVID 19 pandemic impact on Global Artificial Marble Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Artificial Marble Market Dynamics;
Artificial marble, commonly known as cultured marble, provides the look and feel of real marble without the extra cost and hassle. It’s made of crushed marble and resin, so it can stand up to the wear and tear of everyday use and most cleaning products. Artificial Marble is widely used at home, offices, industries and institutions to makes the place more classy and marvellous. An increasing infrastructure development especially in developing countries is mainly driving the global artificial marble market. Moreover, various benefits of artificial marble such as cost-effectiveness, low maintenance, low water absorption rate, and environmental benefits are driving the market growth over forecast period. Such benefits are expected to boost the growth artificial marble market over forecast period. Manufacturers are focusing on in R&D activities to enhance the product quality by utilizing substitute raw materials which is expected to create lucrative opportunities over forecast period.
However, factors such as artificial marble is vulnerable to stains and high cost involve in the maintenance and usage of the artificial marble are restraining the market growth over forecast period.
Global Artificial Marble Market is segmented by type, by application and by Region. By type, sintered type held 39.67% of market share in 2019 and is expected to keep its dominance over forecast period. Sintered type of artificial marble is utilized in both non-residential and residential sectors as these marbles are available in various shapes & sizes and can be customized according to different requirements. The elegant and luxurious appearance of these marbles at low cost attracts consumers towards them and thus these marbles are widely utilized in roofing, flooring, and wall products.
By application, flooring held 41.65% of market share in 2019 and is expected to keep its dominance over forecast period. Flooring application segment is the major consumer of marble; the artificial marble in flooring is used for various flooring as laying pavements, stairs, kitchen platforms, flooring, sculpture, and external walls. Artificial Marble not only serves the decorative purpose, but is also functionally used as filler for concrete aggregate, stairs, pavements, floor coverings, and external walls in the construction industry. Marble is often associated with luxury and extravagance; hence, it is employed for decoration purposes in various lavish buildings and monuments such as hotels, theatres, temples, churches, memorial buildings, and tombs.
By geography, Asia Pacific held 42.45% of market share in 2019 and is expected to keep its dominance over forecast period. Growth in construction industry and increase in number of residential complexes are major factors driving the growth of the artificial marble market in this region. Moreover, increasing disposable income and rise in urbanization in developed economies such as India and china are expected to create lucrative opportunities for market over forecast period. The Indian Artificial Marble industry is all set for a big jump with projected value and volume CAGR of 7.5% and 11.5% respectively from FY19 to FY20. The share of organized players is expected to increase due to the use of superior technology, innovation and higher marketing spend resulting in higher margins, profitability. APAC is followed by North America and Europe. North America is expected to hold xx% of market share over forecast period due to expansion of real-estate sector in U.S. and Canada. The region is expected to emerge as leader in infrastructure and construction industries, and the improvement in the financial conditions in this region has led to the growth of the artificial marbles market.
Report covers in depth analysis of key development, marketing strategies, value chain, supply chain and company profiles of market leaders, potential players and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, collaborations, strategic alliances, expansion, joint ventures, new product launches, patent and diversification to increase regional presence and business opeartions.
The objective of the report is to present a comprehensive analysis of the Global Artificial Marble Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Artificial Marble Market dynamics, structure by analyzing the market segments and project Global Artificial Marble Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Artificial Marble Market make the report investor’s guide.
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Scope of Global Artificial Marble Market
Global Artificial Marble Market Segmentation by Type
• Polyester artificial marble
• cement artificial marble
• composite artificial marble
• sintered artificial marble
Global Artificial Marble Market Segmentation by Application
• Flooring
• Countertops
• Vanity tops
• Bathtubs
• Wall panels
• Shower stalls
• Others
Global Artificial Marble Market Segmentation by Region
• North America
• APAC
• Europe
• MEA& Africa
• South America
Global Artificial Marble Market Major Players
• Aristech Surfaces LLC
• Hanex Solid Surfaces
• Krystal Stone Exports Ltd.
• Kuraray Co., Ltd
• Leigei Stone Co Ltd.
• LG Hausys Ltd.
• Marmil SA
• OWELL
• Lotte Advanced Materials
• DuPont de Nemours, Inc (US)
• Guangdong Chuanqi Compound Stone Co.,Ltd (China)
• Nanan Guang Tai Xiang Stone Co., Ltd (China)
• Pengxiang (China)
• Wanfeng Compound Stone Technology Co., Ltd. (China)
• Shanghai Meyate Group (China)
• Samsung Stone Industry Co., Ltd. (China)
• Yunfu Liji Stone Co., Ltd (China)
• Bitto Industry (Dongguan) Co., Ltd. (China)
• Jordan Marble and Granite (US)
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