Wednesday, April 28, 2021
White Marble Market Size 2021 | Is Projected to Reach USD 89 BN With 5.7% CAGR by 2027
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The global White Marble market generated revenue of around USD 37 Billion in 2020 and anticipated to grow at a CAGR of over 5.7% during the forecast period from 2021 to 2027 to reach around USD 89 Billion in 2027.
Marble is a metamorphic rock formed when limestone is heated and compressed during metamorphism. It is mainly made up of CaCO3, but it can also contain micas, quartz, clay minerals, iron oxides, pyrite, and graphite. Calcite in limestone recrystallizes during metamorphism, resulting in a rock which is made up of interlocking calcite crystals.
Key Trends in Global White Marble Market
Abundant Presence in the Market
Marble is a popular natural stone made up of the mineral calcite. Marble quarries can be found all over the world. Marble quarries abound in countries like the United States, Italy, Turkey, and Spain, meeting the global demand for high-quality marble for residential, industrial, and commercial infrastructure.
There are large marble quarries in each region, resulting in easy availability and logistics of marble for further processing into the finished product. Marble is mined in open-pit mines ranging in size from small to very large. Marble mining is a capital-intensive operation, and since there are so many quarries around the world, transportation and logistics costs are low.
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Impact of COVID 19 on White Marble Market
Starting from Wuhan, China, the COVID-19 got multiplied and outspread across world's major economies. The outbreak of COVID-19 has had a slight effect on the marble industry, as the majority of marble quarries and production units are located in coronavirus-affected countries. The impacted countries are home to the headquarters and principal branches of major marble manufacturers.
Due to low demand from the construction industry, the COVID-19 outbreak has had an impact on the marble market's supply chain. The marble demand has slowed due to a temporary pause in construction activities in several countries in the first half of 2020.
Global White Marble Market by Type Insights
Natural Marble and Artificial Marble are some of the major types of White Marble. Natural Marble segment accounted for the largest share in 2020 of the White Marble market in 2020.
Global White Marble Market by Regional Insights
The European region is likely to be key region in the forthcoming years. The high demand for marble in countries like the United Kingdom, Italy, and Spain across application areas like building and construction, furniture, and statues and monuments can be attributed to the growing demand. Europe being at the edge of high consumption provides opportunities for marble in commercial as well as residential infrastructure development. Additionally, numerous prominent manufacturers are present in the region which adopts organic and inorganic strategies to stay ahead in the market competition.
Global White Marble Market Competitive Landscape
Most prominent players in the global White Marble market include Levantina y Asociados de Minerales, Temmer Marble (Turkey), California Crafted Marble, Inc. (US), S.A. (Spain), Fox Marble Holdings plc (UK), Hellenic Granite Company (Greece), Topalidis S.A. (Greece), Polycor Inc. (Canada), NAMCO CO. srl (Italy), Dimpomar - Rochas Portuguesas Lda, Asian Granito India Limited (India), and others. The report covers very detailed profiles of these key players.
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DoC: https://issuu.com/robsonspot/docs/white_marble_market.docx
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