WASHINGTON, July 19, 2023 (GLOBE NEWSWIRE) -- The Global Countertops Market accounted for USD 128.1 Billion in 2022 and is expected to have USD 204.3 Billion by 2030 at a CAGR of 6.9% over the projected period of 2023-2030.
The Countertops Market is one of the fastest-growing markets economically, and consistent expansion is expected in the forecast period. Regardless of the industry's difficulties, various factors could influence its growth. This report evaluates current trends and future developments to provide a comprehensive industry view. It also includes information on the major industry players and their expansion initiatives.
The research examines worldwide producers and suppliers in-depth, as well as their recent state and future possibilities. It also discusses the global drivers of demand for this market in-depth, such as changing consumer preferences and lifestyles, home remodeling and renovation activities, and expansion of the construction industry.
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Market Overview
According to Vantage Market Research, the growing demand for aesthetically pleasing and useful products in the construction industry is one of the key factors driving the Countertops market. Countertops are essential for improving a room's overall appearance and feel while offering durability and simple maintenance. Homeowners and businesses are willing to spend money on high-quality Countertops that will match their decor and withstand daily use due to the increasing emphasis on interior design. The growing acceptance of open-concept kitchens and contemporary lifestyles that place a premium on cooking and entertaining at home also adds to the demand for beautiful and useful Countertops.
According to our forecast, by 2030 the quartz Countertops segment will be one of the market's leading sub-sectors. Because of their toughness, ease of maintenance, and aesthetic appeal, quartz Countertops have grown in popularity. Quartz Countertops are non-porous, unlike Countertops made of natural stone, which makes them resistant to stains and bacterial growth. Additionally, homeowners have a variety of options to choose from while having their kitchens or bathrooms look better overall.
Due to its rapidly expanding infrastructure and construction industries, the Asia Pacific region leads the world in the market for Countertops. Moreover, with over two-thirds of the global demand for solid surface Countertops coming from the Asia Pacific region, it is anticipated that solid surface will see an increase in its share of global sales. Significant local manufacturing capacity, particularly in China, Japan, and South Korea, supports demand. The demand for contemporary and aesthetically pleasing Countertops in residential and commercial spaces is being driven by population growth, increased urbanization, and rising disposable income. The region's dominance in the Countertops market is also aided by its manufacturing prowess and accessibility to affordable raw materials.
Market Dynamics
Rising Demand for Durable and Low-Maintenance Countertops
One of the main growth drivers in the Countertops market is the rising demand for strong, low-maintenance Countertops. Consumers are increasingly looking for Countertops that can withstand daily use while requiring little maintenance as they become more aware of the long-term value of their investments. Due to their superior durability and resistance to stains, scratches, and heat, materials like quartz and engineered stone have seen a rise in popularity. For instance, studies predict that the market for quartz Countertops will grow to $13 billion by 2027. This reflects how consumers are increasingly favoring Countertops that have both aesthetic appeal and practical advantages.
Growing Preference for Customization and Unique Design Options
Consumers of today value uniqueness and individuality, which leads them to look for Countertops that can be customized to suit their unique preferences and requirements. To address a variety of consumer preferences, countertop suppliers and manufacturers have responded to this trend by providing a wide range of customizable options in terms of colors, patterns, finishes, and edge profiles. Additionally, technological developments like digital printing have made it possible to produce Countertops that resemble natural stone, increasing both their aesthetic appeal and affordability. The market has grown significantly as a result of the emphasis on customization and distinctive design, as customers are willing to spend money on Countertops that reflect their individual tastes and improve the aesthetics of their spaces.
Top Players in the Global Countertops Market
- Caesarstone Ltd.
- Cosentino Group
- DuPont de Nemours Inc.
- Wilsonart International Inc.
- Formica Corporation
- Hanwha Surfaces
- Deriblok Group Co. Ltd.
- LX Hausys Ltd.
- Pokarna Ltd.
- Vicostone Joint Stock Company
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Top Trends in the Global Countertops Market
- One trend that Vantage Market Research (VMR) anticipates the Countertops market will witness is Smart Countertops. These Countertops come with integrated features like wireless charging stations, touch-screen user interfaces, and even built-in Internet of Things devices. For example, LX's smart Countertops have an integrated screen that offers recipe recommendations, weight measurements, and even expiration date alerts for stored food items. Furthermore, some smart Countertops offer wireless charging features, which let users conveniently charge their smartphones or other devices by simply setting them on the countertop surface. In addition to providing convenience, the incorporation of technology into Countertops gives the kitchen or bathroom a futuristic and contemporary feel.
- Another important trend anticipated by VMR in the Countertops market is Natural and engineered stone Countertops which are in high demand because of their sturdiness, aesthetic appeal, and minimal maintenance needs. Studies predict that by 2027, the global market for engineered stone will be worth $180 billion. Consumer awareness of the advantages these materials provide, such as resistance to stains, scratches, and heat, is what is driving this trend. Additionally, engineered stone offers many design options and imitates the look of natural marble or granite while being more reasonably priced and environmentally friendly.
Top Report Findings
- Based on Material Type, there are many different types of materials available for Countertops, including granite, quartz, marble, laminate, and wood. Granite Countertops are a popular option for homeowners because of their reputation for dependability and natural beauty. Contrarily, quartz Countertops come in a variety of hues and patterns and have a non-porous surface. While marble Countertops exude elegance and luxury, laminate Countertops are more affordable and adaptable. Wood Countertops give any kitchen or bathroom a charming, warm, and natural appearance.
- Based on End-User, residential, commercial, and industrial end users are all served by the Countertops market. The majority of the market is made up of residential end-users, such as homeowners and landlords. They look for Countertops that will not only improve the aesthetic appeal of their rooms but will also withstand normal use. In order to make their establishments feel welcoming to their patrons, commercial end-users like hotels, restaurants, and retail stores need Countertops that are both strong and attractive to the eye. Industrial end users prioritize functionality, hygiene, and durability when choosing Countertops, such as hospitals, laboratories, and manufacturing facilities.
- Based on the Distribution Channel, one of the main channels is through home improvement stores like Home Depot and Lowe's, which provide installation services and a large selection of Countertops. Customers can now conveniently browse and buy Countertops from the comfort of their homes thanks to the growth of online retailers and e-commerce platforms. Contractors, builders, and interior designers who need Countertops for their projects may also receive their products directly from countertop manufacturers. Custom countertop fabrication businesses contribute to the distribution chain by creating one-of-a-kind, made-to-order Countertops for clients looking for a special touch.
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Demand for Enhanced Services and New Technologies
According to the analysis, the top three important companies in the Countertops Market are Cosentino Group, Caesarstone Ltd., and Wilsonart International. These companies will likely gain from expanding demand for their services and increased investment in new technologies to improve their offerings. Formica Corporation, DuPont de Nemours Inc., Hanwha Surfaces, Deriblok Group Co. Ltd., LG Hausys Ltd., Pokarna Ltd., and Vicostone Joint Stock Company are the other key competitors. According to a recent analysis issued by Vantage Market Research, the top ten firms generate more than 58% of the market's revenue.
Recycled Materials are Expected to be in Demand By 2030
Vantage Market Research analyzed the market for Countertops Market to understand its recent situation and potential future growth factors. For a better understanding, based on the Material segment Countertops Market is categorized into Granite, Quartz, Marble, Laminate, Concrete, Soapstone, Engineered Quartz, Stainless Steel, Wood, and Other Materials.
According to our projections, by 2030, recycled materials are expected to dominate the Countertops market. Consumers are choosing recycled materials like glass, concrete, and metal more frequently for their Countertops due to growing concerns about sustainability and minimizing environmental impact. These materials offer a distinctive and environmentally friendly choice that combines robustness and aesthetic appeal.
In terms of market share, a segment that will dominate the Countertops Market in 2022 is quartz Countertops. Quartz Countertops have grown in popularity because of their resistance to stains, scratches, and heat. They are also known for being long-lasting and low-maintenance. Additionally, they provide a wide variety of hues and patterns, enabling homeowners to select a product that complements their aesthetic preferences. Quartz Countertops continue to be in high demand due to their flawless fusion of elegance and usefulness. Moreover, quartz countertop manufacturers have started incorporating antimicrobial agents into the countertop material to inhibit the growth of bacteria, viruses, mold, and mildew on the surface. This development provides an added layer of hygiene and safety, making quartz Countertops even more resistant to the growth of harmful microorganisms.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Countertops Market Forecast Report (2023-2030).
Global Countertops Market Segmentation
By Material Type
- Granite
- Quartz
- Marble
- Laminate
- Concrete
- Soapstone
- Engineered Quartz
- Stainless Steel
- Wood
- Other Materials
By End-User
- Residential
- Commercial
- Industrial
- Other End-Users
By Distribution Channel
- Online Retailers
- Specialty Stores
- Home Improvement Centers
- Direct Sales
- Other Distribution Channels
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 128.1 Billion |
| Revenue Forecast by 2030 | USD 204.3 Billion |
| CAGR | 6.9% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Caesarstone Ltd., Cosentino Group, DuPont de Nemours Inc., Wilsonart International Inc., Formica Corporation, Hanwha Surfaces, Deriblok Group Co. Ltd., LX Hausys Ltd., Pokarna Ltd., Vicostone Joint Stock Company |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/countertops-market-2183/customization-request |
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