Global Natural Stone and Marble Market Size, Share, Trends: By Product: Granite, Limestone, Sandstone, Slate, Marble, Others; By Application: Monumental, Building and Construction, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Trade Data Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Natural Stone and Marble Market Size

The global natural stone and marble market reached a value of around USD 51.56 billion in 2023. During the forecast period of between 2024 and 2032, the market is expected to grow at a CAGR of 3.90% to reach around USD 72.95 billion by 2032.

Natural Stone and Marble Market Outlook

• Limestone formations host approximately 30% of the world’s petroleum reservoirs, where countries like China, India, and Brazil supply around two-thirds of the granite used globally.

• India had 47 mines that produced limestone in 2019-2020, with a total output of 7,187 million metric tonnes, whereas the state of Rajasthan reported a sandstone production of about 274.50 lakh tonnes in 2019-20.

• As per industry reports, in 2020, United States was the world's top producer of industrial sand and gravel, producing around 130 million metric tonnes.

Natural Stone and Marble Market Growth Rate

Natural stone and marble are types of rocks that are formed by natural processes and can be used for various purposes such as construction, decoration, and sculpture. Natural stone includes granite, limestone, sandstone, slate, and travertine, while marble is a metamorphic rock composed of recrystallised carbonate minerals.

The global natural stone and marble market is expected to grow due to the increasing demand for these materials in various sectors such as residential, commercial, and industrial. Natural stone and marble are some of the most opulent materials for use in architecture and interior design. Natural stone materials are high in demand as they offer superior aesthetics, ornamental, and hydraulic-binding qualities.

Meanwhile, marble serves as a building component and for sculpture due to its great compressive strength. According to the statistics, growing demand for these materials in developing nations can be attributed to rapid urbanisation and industrialisation.

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Key Trends and Developments

Growing preference for natural and eco-friendly materials and expanding construction and renovation activities are boosting the natural stone and marble market development.

September 2023

Polycor completed the acquisition of Rocamat, a leading producer of natural stone in France and a significant player in the international building stone production industry. This expanded the company’s presence in global market.

September 2023

Margraf Inaugurated a new plant in Carrara which will function as a storage and exhibition facility for natural stone blocks sourced globally. The company aims to expand and diversify its product range at a new location on Viale Zaccagna 25 (MS), showcasing over 250 exclusive natural stone blocks.

February 2023

Polycor Inc. acquired Ebel Quarries, a limestone quarrier and fabricator located in Ontario, Canada. This acquisition allowed Polycor to expand its presence in Ontario and diversify its comprehensive product line by adding a new subsidiary to its extraction and finishing network.

June 2022

Antolini introduced Azerocare Plus, an innovative process designed for surfaces in marble, onyx, and soft quartzite with LETHER and MATT finishes. This new technology provides protection against etching and staining from acid-based substances like lemon and wine, ensuring lasting protection for these natural stone surfaces.

Increasing demand from emerging markets

Emerging markets, such as China, India, Brazil, and the Middle East, have a high demand for natural stone and marble products, due to the urbanisation, population, income, and infrastructure growth. These markets are also major exporters of natural stone and marble, especially granite, marble, and travertine, to other regions.

Rising preference for natural and eco-friendly materials

Consumers prefer natural and eco-friendly materials, such as natural stone and marble, over synthetic and artificial materials, due to environmental and health awareness. Natural stone and marble are durable, biodegradable, recyclable, and aesthetically appealing, as well as having antibacterial and thermal properties. They are also popular among the green building and LEED certification initiatives.

Expanding application areas

Natural stone and marble are used for new and innovative applications, such as furniture, accessories, art, and landscaping, besides the traditional applications, such as flooring, countertops, and wall cladding. They are used to make elegant and sophisticated features, such as tables, chairs, lamps, vases, sculptures, fountains, statues, mosaics, murals, inlays, and reliefs.

Natural Stone and Marble Market Trends

The market will witness strong growth due to the rising demand for natural stones and specialised marble s such as Statuario marble for decorative purposes in high-end structures and remodelling projects. Additionally, expansion of engineering, procurement, and construction (EPC) projects within the infrastructure industry is promoting natural stone and marble market development.

Moreover, the expansion of renovation projects and the rising demand for natural stone in monumental and memorial applications is one of the key trends positively impacting the natural stone and marble market growth. Large and high-quality marble quarries are available in countries like Spain, Turkey, Italy, and the United States, which allows them to meet the growing demand for marble for commercial, residential, and monumental purposes.

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Natural Stone and Marble Industry Segmentation

The EMR’s report titled “Natural Stone and Marble Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Granite

• Limestone

• Sandstone

• Slate

• Marble

• Others 

Market Breakup by Application

• Monumental

• Building and Construction

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific 

• Latin America 

• Middle East and Africa 

Natural Stone and Marble Market Share

Granites are high in demand due to its durability, water resistance, and environmental benefits

Granite is a type of natural stone that is widely used for flooring, countertops, monuments, and sculptures. It is demanded for its durability, resistance to heat and water, and variety of colors and patterns. Granite is also preferred for its environmental benefits, as it reduces the emission of carbon dioxide and other greenhouse gases. One of the most famous granite monuments in the world is Mount Rushmore in South Dakota, United States, which rises to an impressive 5,725 feet above the ground.

Limestone is another type of natural stone commonly used for building materials, such as cement, lime, and aggregates. It is also used for soil stabilisation, road construction, landscaping, and as a raw material for various industries, such as iron and steel, paper, and glass. Limestone is also valued for its versatility and availability, as it can be found in different forms and grades. The growth of these segments is driven by the increasing construction activities, especially in emerging economies like China and India, where urbanisation and industrialisation are accelerating.

Building and construction segment holds a significant market share due to rising infrastructural development globally

Building and construction segment includes the use of natural stone and marble for various purposes in the building and construction industry, such as flooring, wall cladding, countertops, roofing, landscaping, and paving. According to the Global Stone Congress, the global consumption of natural stone and marble for building and construction was estimated at 152 million tons in 2019. The demand for this segment is further driven by the increasing preference for natural and eco-friendly materials in developed markets.

As per natural stone and marble market analysis, monumental segment includes the use of natural stone and marble for sculptures, memorials, statues, and other decorative items. According to the World Monument Fund  , there are over 800 monuments around the world that are made of or feature natural stone and marble, such as the Taj Mahal, the Lincoln Memorial, and the Statue of Liberty. The demand for this segment is driven by the cultural and historical significance of these monuments and the aesthetic appeal and durability of natural stone and marble.

Leading Manufacturers in the Natural Stone and Marble Market

Market players are focused on providing high-quality natural stone products, meeting industry standards, and utilising modern technologies for extraction and processing natural stones and marbles.

Antolini Luigi & C. S.p.a, a leading natural stone processing company, was founded in 1956 in Verona, Italy The company has grown into a global leader in the natural stone industry, offering a wide range of high-quality materials like granite, marble, and onyx.

Dermitzakis Bros S.A, a leading Greek White Marble company, was founded in 1990 and is headquartered in Kavala, East Macedonia and Thrace, Greece. The company is known for its high-quality products like Areti White, olakas, and Kavala Semi White, sourced from their private quarries in Pirgi Drama and Stenopos Kavala.

Margraf SPA, a prominent company specialising in the extraction and processing of natural stones, was founded in 1906 in Chiampo, Italy. The company is renowned for its exquisite marble and natural stone products used in architecture and design globally.

Ranamar Marble, a leading supplier of luxury marble, travertine, and onyx stone surfaces, known for the high quality of its natural stone products. The company is headquartered in Bursa, Turkey. The company offers a wide range of materials including Negro Marquina Marble, Afyon White Marble, and Invisible Gold Marble, which are used in various applications such as slabs, tiles, blocks, mosaics, countertops, and more.

Other key players in the global natural stone and marble market analysis include Levantina y Asociados de Minerales, S.A., and Polycor Inc., among others.

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Natural Stone and Marble Market Analysis by Region

Asia Pacific leads the market due to its abundance of natural resources and low labour costs

Asia Pacific is expected to hold a sizable natural stone and marble market share due to the rapid infrastructure development in emerging economies such as China, India, Indonesia, and Vietnam. The region also has abundant natural resources and low labour costs, which attract foreign investments and boost the production and export of natural stone and marble.

India is one of the world's leading producers of raw stone materials with exceptional quality, affordable costs, and cutting-edge technologies for stone quarrying and processing. Meanwhile, the Europe natural stone and marble market is driven by the high demand for natural stone and marble in historical and cultural heritage preservation, luxury and design-oriented projects, and green building initiatives. The region also has expertise in natural stone and marble production and processing, which gives it a competitive edge in the global market.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.