Pune, India, September 2023, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Artificial Marble Market.
Market Research Future (MRFR) has published a cooked research report on the “Global Artificial Marble Market” that contains information from 2018 to 2032. The Artificial Marble market is estimated to register a CAGR of 11.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Artificial Marble market— Saint-Gobain Group, Aliaxis Group SA/NV, Mexichem S.A.B. de CV, Tyman plc., Tenaris, CEMEX SAB de CV, Future Pipe Industries, JM EAGLE INC., China Lesso, AMERICAN, and National Pipe & Plastics.
The global Artificial Marble market is accounted to register a CAGR of 11.20% during the forecast period and is estimated to reach USD 29.4 Billion by 2032.
The artificial marble market involves the production and distribution of engineered stone materials that mimic the appearance of natural marble. These materials are used in various applications such as countertops, flooring, and decorative surfaces, offering a cost-effective and versatile alternative to natural marble. The market's growth is driven by its aesthetic appeal, durability, and customizable properties for interior and architectural projects.
The global Artificial Marble market has been segmented based on Type, and Application.
On the basis of Type, the market is segmented into polyester artificial marble, cement artificial marble, composite artificial marble, and sintered artificial marble. In 2022, the polyester fake marble sector was the market leader. One of the key reasons influencing the market's growth is the increasing usage of artificial marble in decorative mosaics and landscaping due to its excellent resistance to water damage and appealing appearance. In addition, developing countries require synthetic marble for the construction of temples and other holy structures.
Based on Application, the global Artificial Marble market has been segmented into flooring, countertops, vanity tops, bathtubs, wall panels, shower stalls, and others. In 2022, the flooring category ruled the artificial marble market. This is as a result of an increase in the demand for faux marble in commercial structures like malls, universities, and large complexes.
The global Artificial Marble market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Artificial Marble market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Artificial Marble market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Artificial Marble market comprises of Middle East, Africa, and Latin America.
The North America Artificial Marble Market dominated this market in 2022 (45.80%). The rising use of artificial marbles, particularly in the United States and Canada, is one of the major factors that analysts predict will drive market revenue growth in this sector. In addition, the North American artificial marble market in the United States had the biggest market share, while the market in Canada had the quickest rate of expansion.
Additionally, In 2022, the Europe Artificial Marble market held a sizable market share. The growth of the building and construction industries in developing countries like France and Spain is credited with this development. The U.K. Artificial Marble market had the quickest growth in the European region, and the German Artificial Marble market had the greatest market share.
Moreover, From 2023 to 2032 the Asia Pacific Artificial Marble industry is anticipated to grow significantly. The increased activity in the area's infrastructure is to blame for this. Due to an increase in construction activity spurred on by expanding urbanisation and industrialization, the market for faux marble is also predicted to grow. In order to create a sustainable environment, it is therefore projected that using artificial marble in new construction would result in a profitable market increase. operations, supply chains, and fresh working methods to deal with pressing circumstances. In addition, the Indian Artificial Marble market had the quickest rate of growth in the Asia-Pacific region, while China's Artificial Marble market had the greatest market share.
Key Findings of the Study
Saint-Gobain Group, Aliaxis Group SA/NV, Mexichem S.A.B. de CV, Tyman plc., Tenaris, CEMEX SAB de CV, Future Pipe Industries, JM EAGLE INC., China Lesso, AMERICAN, and National Pipe & Plastics.
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