Marble Building Stone Market

The global market for marble building stone is projected to see a positive trend in consumption, production, imports, and exports from 2022 to 2030. Key countries like Turkey, China, and Italy dominate the market. Analysis of trends, volumes, values, and growth rates highlight the increasing demand worldwide. From 2012 to 2022, there were noticeable fluctuations but overall growth is expected to continue in the coming years.

Market Forecast

Driven by increasing demand for marble building stone worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market volume to 27M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.0% for the period from 2022 to 2030, which is projected to bring the market value to $31.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Marble Building Stone

In 2022, the amount of marble building stone consumed worldwide reduced modestly to 21M tons, falling by -4.7% on 2021. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +3.4% against 2020 indices. As a result, consumption attained the peak volume of 27M tons. From 2019 to 2022, the growth of the global consumption failed to regain momentum.

The global marble building stone market value contracted modestly to $19.6B in 2022, falling by -2.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.3% against 2020 indices. As a result, consumption attained the peak level of $23.8B. From 2019 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (3.1M tons), Turkey (2.5M tons) and Italy (2.4M tons), together accounting for 39% of global consumption. The United States, India, Spain, Brazil, France, Indonesia, South Korea, Iraq and Pakistan lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by France (with a CAGR of +8.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest marble building stone markets worldwide were Turkey ($4.6B), China ($4.4B) and the United States ($1.8B), together accounting for 55% of the global market.

Among the main consuming countries, China, with a CAGR of +10.8%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of marble building stone per capita consumption in 2022 were Italy (40 kg per person), Turkey (29 kg per person) and Spain (22 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by France (with a CAGR of +7.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Marble Building Stone

Global marble building stone production dropped modestly to 22M tons in 2022, which is down by -1.6% against the previous year. The total output volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 35% against the previous year. As a result, production attained the peak volume of 28M tons. From 2019 to 2022, global production growth failed to regain momentum.

In value terms, marble building stone production declined to $21.8B in 2022 estimated in export price. In general, production, however, saw a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 39%. Over the period under review, global production attained the peak level at $43B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Turkey (5.5M tons), China (3.9M tons) and Italy (2.8M tons), together comprising 57% of global production. India, Spain, the United States, Brazil, Greece, Indonesia, Egypt, Pakistan and Mexico lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by India (with a CAGR of +7.2%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Marble Building Stone

Global marble building stone imports fell markedly to 5.3M tons in 2022, reducing by -16.8% compared with 2021 figures. Over the period under review, imports, however, continue to indicate a slight increase. The most prominent rate of growth was recorded in 2018 with an increase of 13%. Global imports peaked at 6.3M tons in 2021, and then dropped remarkably in the following year.

In value terms, marble building stone imports reached $4.1B in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 19%. Over the period under review, global imports reached the maximum at $4.3B in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (1.3M tons) was the key importer of marble building stone, achieving 26% of total imports. It was distantly followed by South Korea (400K tons), Iraq (392K tons), the United Arab Emirates (318K tons) and France (294K tons), together mixing up a 27% share of total imports. Morocco (230K tons), Libya (184K tons), Israel (124K tons), Qatar (119K tons), Kuwait (91K tons), Romania (91K tons) and Australia (86K tons) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +3.4% from 2012 to 2022. At the same time, Romania (+16.5%), France (+10.4%), South Korea (+7.6%), Morocco (+6.5%), Qatar (+5.4%), Australia (+4.7%), Kuwait (+4.0%), Israel (+1.7%) and the United Arab Emirates (+1.4%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in the world, with a CAGR of +16.5% from 2012-2022. Iraq and Libya experienced a relatively flat trend pattern. The United States (+5.4 p.p.), South Korea (+3.6 p.p.), France (+3.3 p.p.) and Morocco (+1.8 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.3B) constitutes the largest market for imported marble building stone worldwide, comprising 32% of global imports. The second position in the ranking was held by the United Arab Emirates ($270M), with a 6.5% share of global imports. It was followed by South Korea, with a 4.3% share.

In the United States, marble building stone imports increased at an average annual rate of +5.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+3.7% per year) and South Korea (+3.1% per year).

Imports By Type

Marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) represented the main type of marble building stone in the world, with the volume of imports recording 3.2M tons, which was approx. 60% of total imports in 2022. It was distantly followed by marble, travertine and alabaster; simply cut or sawn, with a flat or even surface (2.1M tons), committing a 40% share of total imports.

From 2012 to 2022, the biggest increases were recorded for marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) (with a CAGR of +1.5%).

In value terms, marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) ($2.8B) constitutes the largest type of marble building stone imported worldwide, comprising 69% of global imports. The second position in the ranking was taken by marble, travertine and alabaster; simply cut or sawn, with a flat or even surface ($1.3B), with a 31% share of global imports.

From 2012 to 2022, the average annual growth rate of the value of marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) imports amounted to +2.6%.

Import Prices By Type

In 2022, the average marble building stone import price amounted to $786 per ton, rising by 21% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major imported products. In 2022, the product with the highest price was marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) ($898 per ton), while the price for marble, travertine and alabaster; simply cut or sawn, with a flat or even surface totaled $603 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) (+1.1%).

Import Prices By Country

In 2022, the average marble building stone import price amounted to $786 per ton, with an increase of 21% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($1,350 per ton), while Iraq ($316 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+6.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Marble Building Stone

In 2022, after two years of growth, there was significant decline in overseas shipments of marble building stone, when their volume decreased by -6.2% to 6.2M tons. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 20% against the previous year. The global exports peaked at 7.4M tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, marble building stone exports rose notably to $5.4B in 2022. The total export value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 15% against the previous year. Over the period under review, the global exports hit record highs at $5.4B in 2014; afterwards, it flattened through to 2022.

Exports By Country

Turkey was the major exporting country with an export of about 3.1M tons, which finished at 50% of total exports. China (791K tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Italy (8.1%). The following exporters - Egypt (262K tons), Greece (223K tons), Spain (194K tons), India (153K tons), Oman (141K tons), the United States (118K tons), Portugal (106K tons) and Mexico (102K tons) - together made up 21% of total exports.

Exports from Turkey increased at an average annual rate of +5.3% from 2012 to 2022. At the same time, Mexico (+5.5%), Greece (+4.1%) and India (+1.6%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing exporter exported in the world, with a CAGR of +5.5% from 2012-2022. Egypt and the United States experienced a relatively flat trend pattern. By contrast, Italy (-3.0%), Portugal (-3.3%), Oman (-3.6%), Spain (-5.1%) and China (-7.6%) illustrated a downward trend over the same period. While the share of Turkey (+20 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Spain (-2.2 p.p.), Italy (-3 p.p.) and China (-15.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest marble building stone supplying countries worldwide were China ($1.6B), Turkey ($1.3B) and Italy ($1.1B), with a combined 75% share of global exports. Egypt, Greece, Spain, India, Portugal, Oman, Mexico and the United States lagged somewhat behind, together comprising a further 17%.

India, with a CAGR of +9.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

In 2022, marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) (3.4M tons), distantly followed by marble, travertine and alabaster; simply cut or sawn, with a flat or even surface (2.8M tons) represented the key types of marble building stone, together creating 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exported products, was attained by marble, travertine and alabaster; simply cut or sawn, with a flat or even surface (with a CAGR of +2.3%).

In value terms, marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) ($3.7B) remains the largest type of marble building stone supplied worldwide, comprising 68% of global exports. The second position in the ranking was taken by marble, travertine and alabaster; simply cut or sawn, with a flat or even surface ($1.7B), with a 32% share of global exports.

From 2012 to 2022, the average annual rate of growth in terms of the value of marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) exports totaled +1.9%.

Export Prices By Type

In 2022, the average marble building stone export price amounted to $865 per ton, jumping by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) ($1,070 per ton), while the average price for exports of marble, travertine and alabaster; simply cut or sawn, with a flat or even surface totaled $604 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by marble, travertine and alabaster; articles thereof, (other than simply cut or sawn, with a flat or even surface) (+3.2%).

Export Prices By Country

In 2022, the average marble building stone export price amounted to $865 per ton, growing by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($2,142 per ton), while the United States ($156 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform