Market Insights
Artificial marble is made by mixing small marble debris, stone powder, quartz, sand, colophony, plastic, cement, and acrylic glue in a predetermined ratio. Artificial marbles are popularly used for decorative applications in residential and non-residential buildings. The texture of artificial stone's surface is similar to that of natural stone, and it is hard to crack.
The artificial marble market witnessed significant decline, following the outbreak of the pandemic. Transportation disruptions, supply chain disruptions, cash flow constraints, and halted construction activities were among the challenges that faced industry stakeholders. As a result of these factors, the demand for artificial marble in end-use industries decreased. However, as COVID worries faded, the market began to recover in 2021.
Artificial marbles can be created with fewer ingredients, which makes them comparatively less expensive than other marbles. Given their lightweight, properties, they are easy to maintain, install, and transport. Also, the growth in building and construction industry is estimated to enhance the demand for artificial marbles. As a result, the artificial marble market is expected to grow at a promising CAGR of 8.6% during the forecast period.
Segment Analysis
Based on the material type, the market is segmented as silica, limestone, dolomite, magnesite, phosphate, fluorspar, calcium carbonate, and others. Silica is likely to remain the dominant material type in the foreseen future. The material exhibits brilliant properties such as excellent mechanical strength, thermal conductivity, and chemical durability. Because of its low-cost and eco-friendly nature, silica is widely used as a raw material for manufacturing marbles.
Based on the product type, the market is segmented as cement artificial marble, composite artificial marble, acrylic artificial marble, sintered artificial marble, polyester artificial marble, artificial black marble, and others. Among these product types, polyester artificial marbles are likely to be the most sought-after segment of the artificial marble market during the forecast period. Polyester is used as a filler as it provides excellent bonding to surface. Polyester marbles are widely used because of their high strength and thermal resistance.
In terms of regions, Asia-Pacific is expected to remain the largest market for artificial marbles over the forecast period. Rapid industrialization and urbanisation in countries such as China and India are responsible for the region's market growth. Because of the low cost of its raw materials, such as calcium carbonate, and its excellent durability, artificial marble is widely used in the Asian region's non-residential and infrastructure sectors. Furthermore, North America and Europe are expected to record significant growth during the forecast period.
Key Players
Most of the companies are deploying various strategies regarding product development & differentiation, pricing, branding, technology, and customized products to gain competitive advantage. The following are some of the key players in the artificial marble market:
- DuPont
- Lotte Advanced Materials Co., Ltd.
- LX Hausys
- Guangdong Chuanqi Compound Stone Co., Ltd.
- Marmil S.A.
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s artificial marble market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The artificial marble market is segmented into the following categories:
Artificial Marble Market, by Material Type
- Silica (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Limestone (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Dolomite (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Magnesite (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Phosphate (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Fluorspar (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Calcium Carbonate (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Artificial Marble Market, by Application Type
- Flooring (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Bathtubs (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Kitchen Counter Tops (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Vanity Tops (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Wall Panels (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Shower Stalls (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Furniture (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Roofing (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Designs & Casting (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Artificial Marble Market, by Product Type
- Cement Artificial Marble (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Composite Artificial Marble (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Acrylic Artificial Marble (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Sintered Artificial Marble (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Polyester Artificial Marble (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Artificial Black Marble (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Artificial Marble Market, by End-Use Industry Type
- Residential Sector
- (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- (Residential Sector Type Analysis: Dormitories, Apartments, and Raw Houses)
- Commercial Sector
- (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- (Commercial Sector Type Analysis: Healthcare Center, Offices, Factories, Industrial Buildings, Concert Halls and Museums, Educational Institutes, Universities and Colleges, and Research Centers)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Artificial Marble Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, Italy, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com
