About Artificial Marble
Artificial marble is also known as engineered stone which is made from the crushed marble particles blended with various types of material like resin, polyester, cement, sintered, etc to form a flat marble surface. These marble particles are glued together to form a marble surface and then it is sealed with the gel coating for the refined finish which helps in increasing the durability and resiliency to accident and any kind of stains. Artificial marble lasts longer than the natural marble surface and requires low maintenance.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market for the mini water dispenser is fragmented with the presence of many players. Leading players can adopt strategies like a merger, acquisition, expansion, new product launch, in order to gain share within the market. Owing to booming industrialization & urbanization, there are growing prospects for new players to enter the market. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Artificial Marble market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Lotte Chemical Co. Ltd. (United States), Johnson Marble & Quartz (India), LG Hausys, Ltd. (South Korea), Aristech Surfaced LLC (United States), Hyundai L & C Europe GmbH (Hanex Solid Surfaces) (Germany), Marmil S.A. (Greece) and Nangang Stone Company Limited (China) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Artificial Marble market by Type (Cement Artificial Marble, Resin Artificial Marble, Composite Artificial Marble, Sintered Artificial Marble, Polyester Artificial Marble and Acrylic Artificial Marble), Application (Vanity Tops, Bath Tubs, Wall Panels, Shower Stalls and Others) and Region.
On the basis of geography, the market of Artificial Marble has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Supermarket will boost the Artificial Marble market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Thickness Metrics, the sub-segment i.e. 12mm will boost the Artificial Marble market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Consumption of Artificial Marble in Commercial Purpose to Avoid the Risk of Accidents and Scratches
Market Growth Drivers:
Growing Construction and Building Activities and Increasing Demand for the Durable and Resilient Stones and Marble for Flooring or Kitchen Tops
Challenges:
High Cost Associated with the Production of Artificial Marble
Restraints:
Stringent Regulatory Guidelines on the Imports and Exports of Artificial Marble
Opportunities:
Surging Demand for the Artificial Marble from Developing Nations Across the World and Technological Advancement in the Production of Artificial Marble
Market Leaders and their expansionary development strategies
In January 2019, Lotte Advanced Materials acquired No. 1 in the artificial marble market in Turkey. Lotte Advanced Materials plans to actively invest in the specialty chemical business at home and abroad.
On 21st January 2020, LG Hausys widens presence in the US artificial marble market. LG Hausys is increasing its presence in North America by operating its third engineered stone production line at a plant there. The new production line will increase the factory’s annual capacity by 50 percent, raising its total annual capacity to 1.05 million square meters.
Key Target Audience
Artificial Marble Manufacturers, Artificial Marble International Traders, Artificial Marble Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.