The artificial Marble Market size is forecast to reach US$ 33840 million by 2027, after growing at a CAGR of 11.20% from during 2022-2027 owing to the rising demand for decorative purposes in residential and non-residential buildings.
Due to its durability and quality to withstand wear and tear of everyday use the global market for artificial marble is expected to register significant growth as it is more durable than natural marble. High abrasion resistance, higher tensile strength and less absorption of water are the factors that drive the market. In order to improve the aesthetics, artificial marble is widely used in offices, homes and institutions. In the near future, the increase in demand of artificial marble for decorative purposes in temples and hotels will drive the market. Also, low cost of artificial marble plays an important role in growth of the market.
Global artificial marble market is growing due to rising number of construction sites and residential buildings. Owing to its durability, demand for composite type and sintered artificial marble is expected to grow.
Top Key players in the Artificial Marble Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Artificial Marble Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes DowDuPont, Staron(SAMSUNG), LG Hausys, Kuraray, Aristech Acrylics, Durat, MARMIL, Hanex, CXUN, Wanfeng Compound Stone, XiShi Group, PengXiang Industry, ChuanQi, New SunShine Stone, Leigei Stone, GuangTaiXiang, Relang Industrial, Ordan, Bitto, Meyate Group,Lotte Advanced Materials Co., Ltd (South Korea), Marmil S.A. (Greece), Guangdong Chuanqi Compound Stone Co.,Ltd (China), Jordan Marble and Granite (US), Nanan Guang Tai Xiang Stone Co., Ltd (China), Shanghai Meyate Group (China), Yunfu Liji Stone Co., Ltd (China), Samsung Stone Industry Co., Ltd. (China) and others.
Industry News and Updates:
The market is segmented based on the type, applications, companies and regions.
By Type, Artificial Marble Market has been segmented into
The end user’s industry application on Artificial Marble Market is,
By Product, Artificial Marble Market has been segmented into
The report offers in-depth assessment of the growth and other aspects of the Artificial Marble Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Asia Pacific dominated the global artificial marble market in 2020 with a share of 32% due to rapid development in industrialization and urbanization in China and India.Thus the demand for artificial marbles in Asian countries is expected to boost the market growth of artificial marble. According to the India Brand Equity Foundation (IBEF), the real state sector in India is expected to reach a market size of US$ 1 trillion by 2030 and will grow to (US$ 9.30 billion) by 2040. Additionally, according to the National Bureau of Statistics, China's real estate market investment jumped from 15.7% in 2019 to 38.3% in January-February 2021. Furthermore, according to the Central Bureau of Statistics, the total sales of built houses in Indonesia has increased by 12,033 units in 2018, as compared with 7,884 units in 2017.
In terms of region, the global artificial marble market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America dominated the artificial marble market in 2020. This trend is anticipated to continue during the forecast period. This can be ascribed to the higher consumption of artificial marble, especially in the U.S. However, the artificial marble market in Asia Pacific is anticipated to expand at a rapid pace owing to the growth in the building & construction industry in emerging countries such as China and India.
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2022-2076. The report presents the analysis of Artificial Marble Market for the historical period of 2017-2021 and the forecast period of 2022-2027.
The key insights of the report have been presented through the frameworks of Major Mergers & Acquisitions, Technological Innovations, and Role of Manufacturers during COVID19 Pandemic. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analyzed in the report.
Report Attributes | Report Details |
Report Title | Artificial Marble Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Lotte Advanced Materials Co., Ltd (South Korea), Marmil S.A. (Greece), |
Forecast Period 2022 to 2028 CAGR | CAGR of 11.20% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | DowDuPont, Staron(SAMSUNG), LG Hausys, Kuraray, Aristech Acrylics, Durat, MARMIL, Hanex, CXUN, Wanfeng Compound Stone, XiShi Group, PengXiang Industry, ChuanQi, New SunShine Stone, Leigei Stone, GuangTaiXiang, Relang Industrial, Ordan, Bitto, Meyate Group,Lotte Advanced Materials Co., Ltd (South Korea), Marmil S.A. (Greece), Guangdong Chuanqi Compound Stone Co.,Ltd (China), Jordan Marble and Granite (US), Nanan Guang Tai Xiang Stone Co., Ltd (China), Shanghai Meyate Group (China), Yunfu Liji Stone Co., Ltd (China), Samsung Stone Industry Co., Ltd. (China) and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 133 |
Customization Available | Yes, the report can be customized as per your needs |
Frequently Asked Questions
What is the study period of this market?
The Artificial Marble Market is studied from 2017 - 2027.
What is the growth rate of Artificial Marble Market?
The Artificial Marble Market is growing at a CAGR of 11.20% over the next 5 years.
Who are the key players in Artificial Marble Market?
DowDuPont, Staron(SAMSUNG), LG Hausys, Kuraray, Aristech Acrylics, Durat, MARMIL, Hanex, CXUN, Wanfeng Compound Stone, XiShi Group, PengXiang Industry, ChuanQi, New SunShine Stone, Leigei Stone, GuangTaiXiang, Relang Industrial, Ordan, Bitto, Meyate Group,Lotte Advanced Materials Co., Ltd (South Korea), Marmil S.A. (Greece), Guangdong Chuanqi Compound Stone Co.,Ltd (China), Jordan Marble and Granite (US), Nanan Guang Tai Xiang Stone Co., Ltd (China), Shanghai Meyate Group (China), Yunfu Liji Stone Co., Ltd (China), Samsung Stone Industry Co., Ltd. (China) and others.
What regions does this Artificial Marble Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Artificial Marble Market?
Vanity Tops, Bath Tubs, Wall Panels, Shower Stalls, Others
What are the major end-use applications of Artificial Marble Market?
Purity (99.0%-99.9%) Boehmite, Purity (above 99.9%) Boehmite
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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