Floors are typically a concrete slab, with a rough and non-aesthetic surface owing to properties of hardened concrete, thereby creating a need for aesthetical flooring solutions. Flooring solutions are also necessary to prevent leakage of water. Marbles are an extensively used flooring solution owing to its better durability as compared to tiles. Marbles are available in a wide range of patterns and qualities such as carrara, calacatta, and statuary, which further increases their application. The durability of marble flooring makes it suitable for use in spaces with high foot traffic, such as commercial and recreational buildings. Furthermore, marble adds a smooth finish to the floor and increases the overall aesthetical appearance of the space. Key players are determined to make durable products with better colors and patterns to stay competitive in the market.
Description
Marble is a metamorphic rock that is composed of recrystallized carbonate minerals such as calcite or dolomite, which are formed by recrystallized fueled by heat, pressure, and aqueous solutions. Marble is typically not foliated, although there are exceptions. Marble is suitable for use as a flooring material owing to its properties such as toughness, durability, and aesthetic appearance. A wide range of marbles are available in the market based on the appearance, variations, and porosity of the stone.
COVID-19 Impact analysis
- COVID-19 pandemic halted the production of marble floorings, attributed to global lockdown. This has hampered the growth of industry in the last few months and is likely to continue through 2022.
- COVID-19 had affected the sales of marble flooring in the first half of 2021 as the demand witnessed a steep decrease due to restrictions in construction activities. Major players in the real estate industry slowed the construction of residential and commercial buildings in the wake of reducing demand because of COVID-19.
- The major demand for marble flooring was previously noticed in the U.S., China, the UK, Germany, France, India, and GCC countries, which are negatively affected by the spread of the COVID-19, thereby decreasing the demand.
- Decrease in income due to COVID-19, directly affected the spending of masses thus, negatively affecting the marble flooring market.
- The COVID-19 pandemic negatively affected the marble flooring manufacturing units due to the restrictions laid on factory operations. Manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
- Increase in vaccination drives and leniency in the COVID-19 restrictions has revived construction and maintenance activities in residential and commercial buildings, which is a positive sign for the recovery of marble flooring market.
Top Impacting Factors
Increase in population and rapid urbanization have exponentially increased the demand for residential and commercial buildings. Floors are vital part of any building as they provide an aesthetic, smooth, and level floor surface, without which a building is not fit for occupation. Marbles are durable and available in a wide range of patterns and prices, thereby making them suitable for use. Furthermore, marbles are extensively used in luxury commercial and residential properties owing to their high aesthetic appearance, so rise in number of luxury buildings has boosted the use of marble flooring. Surge in costs of marbles and the uncertainties in the real estate market are the restraints to the growth of marble flooring market. The Rise in popularity of interior designing, availability of various designs and increased spending on home remodeling projects in developing countries will continue to positively influence the growth of marble flooring in construction market throughout the forecast period.
Market Trends
- Major companies in the industry have focused on developing a large portfolio of marble flooring solutions. For instance, Namco Co. Srl., has a 15,000 sq.mt. facility containing of warehouses to showcase a wide range of marbles.
- Rise in purchasing power of middle-income people in countries such as India, China, and Indonesia, has substantially increased the demand for luxury residential buildings, thereby boosting the marble flooring market.
Key Benefits of the Report
- This study presents the analytical depiction of the marble flooring industry along with the current and future trends to determine the future investment pockets.
- The report presents detailed information related to key drivers, restraints, opportunities and the marble flooring market share.
- A quantitative analysis highlights the marble flooring market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed marble flooring in construction market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Marble Flooring Report
- Who are the leading global players in the “marble flooring market”?
- What are the current trends and predicted trends?
- What is "marble flooring"?
- What is “marble flooring market” prediction in the future?
- What are the challenges faced in the “marble flooring market”?
- What are the driving factors and opportunities in the market?
- What are the key benefits of the “marble flooring market” report?
Marble Flooring Market Report Highlights
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