India Marble Market is expected to grow at a CAGR of 7.36% Through 2030
Growing utilization of marble for
interior decoration of structures and increasing building infrastructure are
driving the marble market across the country.
According to the TechSci Research report,
’India Marble Market - By Region, Competition, Forecast & Opportunities,
2020-2030’, The India Marble market is expected to grow during the forecast
period, 2026-2030F. The building & construction segment is estimated to
lead the marble market in 2020, owing to the rising demand in the building
sector for different types of marble because of its physical characteristics.
The developing countries' high demand for residential and commercial
infrastructure is driving the building and construction sector's expansion. Moreover,
the expansion of the construction sector has increased demand for building
supplies including marble, which is expected to drive the market's expansion in
the upcoming years, 2026-2030F.
A rock called marble is created when calcite
metamorphosis together with additional impurities including quartz, graphite,
mica, clay, and others. India is one of the top 10 marble manufacturers in the
world, with yellow marble being the most common type there. The market has
benefited from the implementation of new liberalization rules in 2016 since
they have lowered a number of standards and limitations on establishing marble
companies and importing marble into the nation.
According to a recent World Bank
research, India is predicted to spend USD 55 billion per year, on urban
infrastructure over the next 15 years due to the fast-growing urban population
across the whole country. By 2036, India's urban population is expected to
reach 600 million, or 40% of the whole population. The already challenged urban
infrastructure and services in Indian cities are expected to become even more
stressed as a result of growing demand for services including growing demand of
houses, safe drinking water, consistent energy supply, and efficient and secure
road transit. Thus, it is estimated that the demand for marble is expected to
rise over the forecast period 2024-2028F. At the moment, approximately 75% of
municipal infrastructure is funded by the union and state governments,
with urban local bodies (ULBs) contributing the remaining 15% of the total
through their own surplus funds.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "India Marble Market"
Based on Products,
the Blocks segment dominates the market in the forecast period, The Blocks segment significantly dominates the India marble market, driven by various economic, logistical, and quality considerations. Marble blocks are the foundational raw materials extracted directly from quarries, which are then processed into slabs, tiles, and other finished products. The demand for marble blocks is robust due to their versatility and the ability to customize them according to specific project requirements.
One of the primary drivers of the blocks segment is the flexibility it offers to fabricators and end-users. Blocks can be cut and finished to precise dimensions, allowing for tailored applications in both residential and commercial projects. This customization is essential for meeting the unique aesthetic and functional needs of architects, interior designers, and builders. The ability to produce large, continuous slabs from blocks without seams is particularly valued in high-end residential and commercial projects, where uniformity and seamless finishes are desired.
Moreover, the economic advantages associated with marble blocks play a crucial role in their market dominance. Selling marble in block form reduces the initial processing costs for quarry operators, as it minimizes the need for immediate cutting, polishing, and finishing at the source. This cost-saving is particularly beneficial in large-scale quarrying operations where the emphasis is on maximizing yield and efficiency. Additionally, transporting marble blocks is more straightforward compared to finished products, as blocks are less susceptible to damage and easier to handle, reducing logistical complexities and costs.
Quality control is another significant factor driving the preference for marble blocks. By selling marble in its raw block form, suppliers allow fabricators and end-users to oversee the processing stages, ensuring that the final product meets their specific quality standards. This hands-on approach to quality management is especially important for high-value projects where the appearance and integrity of the marble are critical.
The export market significantly contributes to the dominance of the blocks segment. India is a leading exporter of marble, and selling in block form allows Indian suppliers to cater to international markets where buyers prefer to process the marble locally to meet regional standards and preferences. This international demand enhances the economic viability of marble blocks and supports the broader market's growth.
The cultural and architectural significance of marble in India reinforces the blocks segment's market leadership. Marble has a rich history and is deeply embedded in Indian architecture and heritage. The preference for marble in monumental structures, luxury interiors, and bespoke design projects perpetuates its demand in block form, ensuring that the marble retains its natural beauty and authenticity throughout the fabrication process.
The dominance of the blocks segment in the India marble market is driven by its flexibility, economic benefits, logistical advantages, quality control potential, export market viability, and cultural significance. These factors collectively ensure that marble blocks remain a preferred choice for suppliers, fabricators, and end-users, fostering sustained growth and prominence in the market.
Key market players in the India Marble market
include:
- Stonex India Pvt Ltd
- A-Class Marble India Pvt Ltd
- Inani Marbles and Industries Ltd
- Asian Granito India Ltd
- Bhandari Marble Group
- R K Marble & Granite Pvt Ltd
- Tilak Marbles Pvt Ltd
- Petros Stone LLP
- Millennium Marbles Pvt Ltd
- Elegant Marbles & Grani Industries
Ltd
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“The India Marble Market is expected to grow in the upcoming years and register
a high CAGR during 2026-2030F owing to an increase in demand for different
types of marble due to its physical qualities in the building sector. The
building and construction sector is expanding as a result of the growing demand
for residential and commercial infrastructure across the nation. Also,
high demand for building materials including marble as a result of the
expansion of the construction sector is predicted to drive the India
Marble market in upcoming years. Moreover, a number of government programs
support the industry. For instance, at USD 100.77 billion for 2023–24, it
represents 18% of overall government spending. Investments in capital
expenditure are at 22% of total spending, which is the highest level in the
past 15 years. Compared to the year before the pandemic (2019-20). It is
projected that the "Housing for All" plan, which intends to
dramatically boost the supply of affordable housing units for low- and
middle-income cohorts by 2022, is expected to lead to a rise in the marble
market across the country. Therefore, the market for marble across the country is
expected to rise during the forecast period, 2026-2030F,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“India Marble Market Segmented By Product (Tiles and
Blocks), By Color (White, Black, Red and Others), By Application (Buildings
& Decoration, Statues & Monuments, Furniture and Others), By Source
(Import and Domestic), By Region, Competition, Forecast
& Opportunities, 2030F”, has evaluated
the future growth potential of the India Marble market and provides statistics
and information on market structure, size, share, and future growth. The report
intends to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in the India Marble market.
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