The global natural stone and marble market size is expected to reach USD 62.58 billion by 2027, exhibiting a CAGR of 7.57% during the forecast period. The increasing demand for natural stones such as White Statuario marble for decorative purposes in luxury buildings, home remodeling, and renovation activities will encourage the healthy growth of the market.
China and India have emerged as top exporters of these products. India exports most of its granite produce to China, which is around 40% of the global granite exports. China largely processes the imported granite and re-exports the processed products to other parts of the World. Furthermore, the rising disposable income of consumers will further spur demand for the market.
This information is given by Fortune Business Insights, in a new report titled “Natural Stone and Marble Market Size, Share & COVID-19 Impact Analysis, By Type (Granite, Limestone, Marble, Sandstone, Slate, and Others), By Application (Building & Construction, Monumental, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 57.48 billion in 2019.
As per the Global Construction Perspectives and Oxford Economics report on Global Construction 2030, US and Indian construction industries are expected to grow faster than China’s construction industry. The global construction volume is forecasted to grow by around 85% by 2030.
https://www.globenewswire.com/en/news-release/2022/04/25/2427748/0/en/Natural-Stone-and-Marble-Market-to-Reach-USD-62-58-Billion-by-2027-Natural-Stone-and-Marble-Industry-Exhibiting-a-CAGR-of-7-57-During-the-Forecast-Period-2020-2027.html