This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global artificial marble market to identify the prevailing market opportunities.
Portland, OR -- (SBWIRE) -- 08/24/2017 -- Artificial marble can be defined as a blend of fillers such as silica and calcium carbonate; synthetic resins such as acrylate and polyester, gel coat and pigments. Calcium carbonate, fine grained sand and marble powder are the key raw materials utilized in the production of artificial marble. The marble possesses high abrasion resistance and minimum water absorption capabilities. It also offers resistance to stains and cleaning chemicals. Artificial marble is utilized in both nonresidential and residential sectors as these marbles are available in various shapes & sizes and can be customized according to different requirements. The elegant and luxurious appearance of these marbles at low cost attracts consumers towards them and thus these marbles are widely utilized in roofing, flooring, and wall products. Composite and sintered type of artificial marbles gain attention as they offer beneficial properties such as durability.
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Growth in construction industry and increase in number of residential complexes are major factors which drive the growth of the artificial marble market. Low cost of artificial marbles as compared to natural marbles and rise in demand of these marbles in commercial buildings such as churches & hotels to maintain luxurious look are other factors, which supplement the market growth. Asia-Pacific is expected to register substantial growth owing to growth in residential construction, increase in disposable income, and rise in urbanization in emerging economies such as China and India. The demand is also anticipated to rise in the U.S. due to real estate sector expansion in the country. Artificial marble is vulnerable to stains and prone to stress cracking if produced without gel coats. Therefore, production of artificial marble without utilization of gel coats may hinder the market growth. However, increase in focus & investment in R&D activities to enhance the product quality by utilizing substitute raw materials may open new opportunities for artificial marble manufacturers.
The report segments the artificial marble market on the basis of product, application, and geography. Based on product, it is divided into acrylic artificial marble, polyester artificial marble, composite artificial marble, and sintered artificial marble. On the basis of application, the market is classified into flooring, countertops, kitchen top, wall panels, staircase, tub & shower stalls, window sills and others. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
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Artificial Marble Market Key Segments:
- Acrylic Artificial Marble
- Polyester Artificial Marble
- Composite Artificial Marble
- Sintered Artificial Marble
- Kitchen Top
- Wall Panels
- Tub & Shower Stalls
- Window Sills
- Others (Furniture Top, Fireplace, and Elevator Cab Walls)