The global marble market is poised for significant growth, driven by infrastructure development and rising demand for elegant architectural designs. Valued at approximately USD 84.2 billion in 2022, the market is projected to reach USD 122.3 billion by 2031, growing at a CAGR of 4.3%.
Infrastructure development activities and the surge in demand for high-end materials in architecture and design are key drivers of the market. An estimated USD 2.5 trillion is spent on infrastructure annually, with projections indicating that this figure will exceed USD 79 trillion by 2040.
The global marble market is highly competitive, with key players focusing on technological advancements, strategic partnerships, and expanding production capacities. Companies like Levantina y Asociados de Minerales, S.A., Global Mining Co. LLC, and Delta Granite and Marble Inc. are prominent players in the market.
Asia Pacific led the global marble market in 2022, and its share is expected to grow steadily during the forecast period. Countries like India, China, and Turkey are key suppliers of premium marble.
Key trends shaping the market include a focus on sustainability, customization and innovation, and the rise of minimalist design.
Source: EIN PRESSWIRE
Image courtesy: marblewale.in
