Increasing Commercial Applications to Expand Artificial Marble Market | Industry Analysis, Key Player profile, Regional Outlook and Comprehensive Research Analysis by 2025
Research Reports
Jan 05, 2021
Market Synopsis
The artificial marble market 2020 is supposed to witness rising investments. The augmentation of the market is attributed to developments in the construction industry. The observation circulated by Market Research Future MRFR indicates that the global artificial marble market is supposed to augment at 9.48% CAGR during the evaluation period. The market size is expected to reach USD 11183.8 Mn in terms of revenue by the end of 2025.
Artificial marble has environmental benefits which is driving its market growth. It absorbs lesser water. It is one of the drivers of the artificial marble market. In addition, the market is likely to benefit from the growth of the hospitality industry. Rising establishment projects of hotels and resorts is anticipated to boost the expansion of the artificial marble market in the foreseeable future. Also, rising demand for public infrastructure development is projected to catapult artificial marble market on growth trajectory. However, the availability of alternative that are more authentic such as marble stone is projected to check market growth over the assessment period. The aesthetic appeal of the product is however projected to gain more popularity.
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Market Segmentation
On the basis of type, the artificial marble market has been segmented into cement artificial marble, polyester artificial marble, sintered artificial marble, and composite artificial marble. Among these, the polyester artificial marble segment is anticipated to dominate the market. It is because of the availability of the product on different shapes and designs that the market is anticipated to grow significantly over years.
On the basis of application, the artificial marble market has been segmented into flooring, vanity tops, countertops, wall panels, bath tubs, shower stalls, and others. Among these, the flooring segment is projected to dictate the growth pattern. The growth rate of the segment is expected to be rapid which can be accredited to the augmentation of the construction industry. It is used for residential as well as commercial applications. Rising investments in the construction of public infrastructure such as airports is anticipated to lead the expansion of the market in the near future.
Regional Analysis
The geographical analysis of the global artificial marble market is included in this report. It covers the regional segmentation of the market that encompasses the following segments – North America, Asia-Pacific, Europe, and the Rest of the World. These segments are further assessed to present a detailed country-based analysis of the global market. APAC is assessed to lead this market. Rising investments in the construction projects, both for commercial and residential purposes, are prognosticated to support the proliferation of the artificial marble market in the upcoming years. Europe is also poised to augment rapidly across the projection period.
Competitive Dashboard
DuPont de Nemours, Inc (US), LG Hausys (South Korea), Lotte Advanced Materials Co., Ltd (South Korea),Guangdong Chuanqi Compound Stone Co.,Ltd (China), Nanan Guang Tai Xiang Stone Co., Ltd (China) , Marmil S.A. (Greece), Pengxiang (China), Shanghai Meyate Group (China), Wanfeng Compound Stone Technology Co., Ltd. (China),Samsung Stone Industry Co., Ltd. (China), Bitto Industry (Dongguan) Co., Ltd. (China), Yunfu Liji Stone Co., Ltd (China), and Jordan Marble and Granite (US) are few of the key participants of the global artificial marble market. These players are investing in marketing strategies to elevate their financial positions. International trade is like to intensify competition in the market. Both international and domestic players are investing in regional expansion to accelerate revenue generation. Organic approaches such as product innovations, product development, research and development, etc. are being extensively implemented by key players. Inorganic growth methodologies that are anticipated to be witnessed in the synthetic marble market are mergers and acquisitions, collaborations, agreements, partnerships, strategic alliances, etc.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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