Synthetic Marble Market Size, Share, Growth, and Industry Growth by Type (Cement Synthetic Marble, Polyester Synthetic Marble, Composite Synthetic Marble, and Sintered Synthetic Marble), By Application (Vanity Tops, Bath Tubs, Wall Panels, Shower Stalls, and Other), Regional Forecast To 2031

Updated On: 08 April 2024

Synthetic Marble Market REPORT OVERVIEW

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The global synthetic marble market size was USD 9821 million in 2021 and is projected to touch USD 251667 million by 2031, exhibiting a CAGR of 9.9% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Synthetic marble is one type of artificial marble. It is often called as marbelite. It is a molded stone prepared to imitate the appearance of marble. The marble is made by the process heating potassium alum in water. Further, 10% marble dust and heavy spar are added in the process.

Growing construction activities are expected to surge market growth. Increasing number of residential complexes is projected to drive market growth. Rising disposable income globally is estimated to surge market growth. Growing demand for the real estate sector is predicted to surge market expansion. Rapid industrialization and urbanization are estimated to fuel market growth during the forecast period. Increase focus on research and development (R&D) activities is projected to enhance product quality. Increasing demand for interior design is projected to surge market growth during the forecast period. Growing need for leak-proof marble is anticipated to stimulate market progress.

COVID-19 Impact: Unavailability of Raw Materials Halted Product Demand

An outbreak of COVID-19 pandemic limited growth opportunity of the market. Several government initiatives ceased operation activities. Unavailability of raw materials halted product demand worldwide. Shortage of labor or workers during pandemic minimized production activities. Closure of several industries and private sector businesses reduced product demand. A shutdown of construction sectors declined product demand.

LATEST TRENDS

"Growing Construction Activities to Stimulate Market Expansion "

Increasing demand for construction globally is estimated to accelerate market growth. Growing need for stylish flooring among population is predicted to surge market growth. The marble has high abrasion resistance and minimum water absorption. Such advantages are predicted to accelerate market growth during the forecast period. It has high strength as compared to natural marble is anticipated to accelerate market progress. Increasing number of residential and business complex is predicted to fuel synthetic marble market growth. Growing need for marble among consumers to enhance their look is anticipated to accelerate market growth. Increasing acceptance of the product in various household complexes is anticipated to stimulate market synthetic marble development. Growing demand for quality merchandise is projected to drive market growth.

Synthetic Marble Market SEGMENTATION

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• By Type

Based on type, the market is divided into, polyester synthetic marble, composite synthetic marble, cement synthetic marble, and sintered synthetic marble.

Cement synthetic marble is expected to be the leading part of segmentation type.

• By Application

Based on the application, the market is divided into vanity tops, bath tubs, wall panels, shower stalls, and others.

Vanity tops are expected to be the leading part of application segmentation.

DRIVING FACTORS

"Growing Demand for Interior Designing to Incite Market Progress "

Increasing demand for interior design is estimated to accelerate market growth. The marble is available in numerous colors, styles, and textures. Such availability of the marble is anticipated to propel market growth. Growing need to enhance flooring is projected to drive market growth. Increasing millennial population and growing need for stylish flooring is predicted to stimulate market progress. Growing need for roofing according to consumer choice is anticipated to propel market development. Increasing acceptance of roofing and wall products is projected to drive market expansion. The marble has stain-proof features. Such an advantage is estimated to accelerate product demand. Rising number of interior designers is predicted to accelerate product adoption. Growing demand for fancy and aesthetic housing design is projected to fuel synthetic marble market growth.      

"Increasing Architectural Sector to Stimulate Market Development"

Increasing demand for architectural sector is estimated to accelerate market growth. Growing adoption of marbles in kitchens and bathrooms is anticipated to accelerate market growth. Rising need for art and architecture among consumers is anticipated to accelerate market growth. Growing to replace old materials with new ones is estimated to fuel market expansion. Increasing focus and investment in research and development (R&D) activities to improve product quality is expected to foster market development. Growing demand for marble in churches and hotels to retain a rich appearance is anticipated to propel synthetic marble market expansion during the forecast period.

RESTRAINING FACTORS

"Growing Stains and Stress Cracking to Reduce Market Expansion"

Increasing chances of stains and stress cracking due to lack of gel coatings are anticipated to hinder market growth.

Synthetic Marble Market REGIONAL INSIGHTS

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"Growing Expansion of Construction and Building in Asia Pacific to Drive Market Share "

Asia Pacific is estimated to hold the largest part of synthetic marble market share due to growing expansion of construction and building. Rapid industrialization and urbanization in the region is anticipated to accelerate market growth. Growing demand for the real estate sector is predicted to surge market expansion. Increasing demand for interior designing is projected to surge market growth during the forecast period. Growing need for leak-proof marble is anticipated to stimulate market progress.

North America is estimated to expand at a rapid pace due to higher construction activities. Growing need for decorative kitchens in residential buildings is anticipated to boost market growth. Increasing architectural activities in the region are predicted to expand market growth during the forecast period.

Europe is estimated to show significant market growth due to increasing need for interior design. Increasing focus and investment in research and development (R&D) activities to improve product quality is expected to foster synthetic marble market development. Growing demand for marble in churches and hotels to retain a rich appearance in the region is anticipated to propel market expansion during the forecast period.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Merge Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

INDUSTRIAL DEVELOPMENT

January 2020 - South Korean chemical company, Lotte Chemical Corp. merged with Lotte Advanced Materials Co.

List of Market Players Profiled

• DuPont (U.S.)
• Staron(SAMSUNG) (South Korea)
• LG Hausys (South Korea)
• Kuraray (Japan)
• Aristech Acrylics (U.S.)
• Hanex (U.K.)
• CXUN (U.S.)
• PengXiang Industry (China)
• ChuanQi (China)
• New SunShine Stone (U.S.)
• Leigei Stone (China)
• GuangTaiXiang (China)
• Wanfeng Compound Stone (China)
• Relang Industrial (U.S.)
• Ordan (U.S.)
• Bitto (India)
• Meyate Group (China)
• Blowker (
• Sunmoon (India)
• XiShi Group (China)
• OWELL
• Durat
• MARMIL

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.