USD 131.50 billion
Countertops Market Size, Share, Growth Analysis, By Material(Granite, Solid Surface, Engineered Quartz, Laminate), By Application(Kitchen, Bathroom, Other), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25G2006 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
66
|Figures:
75
Countertops Market Insights
Global Countertops Market size was valued at USD 131.50 billion in 2022 and is poised to grow from USD 140.05 billion in 2023 to USD 231.78 billion by 2031, growing at a CAGR of 6.50% during the forecast period (2024-2031).
A countertop is a fundamental piece of furniture used in restrooms, workrooms, labs, retail spaces, and restaurants that is supported by cabinets. Work platforms are made from a variety of materials depending on their utility, durability, aesthetics, and requirements, such as integrated appliances for a particular purpose.
Due to their numerous uses and extensive utilities, countertops are likely to generate significant revenue during the anticipated time. The technical advancements in the building sector have increased the demand for regular worktops that may be installed atop cabinets and low-height furniture. Commercially, the availability of unique and personalized kitchen spaces is driving the demand for customized countertops. For example, manufacturers offer a wide range of variety of colors, finishes, patterns, and edge profiles for individual design preferences to create customized kitchen countertops.
US Countertops Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Residential
Fastest Growth
Residential
Growth Rate
6.50% CAGR
Global Countertops Market 2021-2030 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
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Countertops Market Segmental Analysis
Global Countertops Market is segmented on the basis of Material, Application, End User and region. By material, the market is segmented into granite, solid surface, quartz, laminate, marble, others. By application, the market is segmented into kitchen, bathrooms, others. By end-user, the market is segmented into residential and commercial. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Countertops Market Analysis by Material
The granite material segment dominated the global market. Granite has long been utilized as an exterior cladding and paving material, and demand for granite countertops is rising due to its inherent strength, abrasion resistance, and great weathering resilience.
Between 2023 and 2030, the quartz segment is anticipated to grow steadily. It is anticipated that the segment will rise as a result of consumers' growing preference for quartz for their kitchen and bathroom cabinets. The segment is accelerating as consumers desire more environment-friendly materials for countertops. The National Institute for Occupational Safety and Health (NIOSH) also conducted research to understand how crystalline silica stone, also known as quartz stone, is utilized and to create preventative tactics to limit its use because it might cause respiratory diseases.
Countertops Market Analysis by Application
The kitchen application segment dominated the global market. Throughout the forecast period, the category is expected to maintain its dominance. The need for countertops in kitchens is growing, propelling this application category's development. Additionally, the segment growth is anticipated to be accelerated throughout the projection period by an increase in the average share of dwelling space devoted to kitchens in new residential constructions.
The bathroom application segment would expand at the fastest CAGR over the projection period. The expansion of this market is being accelerated by increased bathroom construction in the residential market as well as customer willingness to upgrade to more expensive materials like engineered stone and granite to raise the level of their homes. Also, over the projection period, there will be an increase in hotel construction and remodeling of hotel rooms, including bathrooms.
Global Countertops Market Size By End User 2021(%)
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Countertops Market Regional Insights
Asia Pacific dominated the global market in 2022. This high percentage can be attributed to rising living standards and on-going renovation efforts for both residential and non-residential building units.
The second-fastest growth rate is anticipated for the Middle East and Africa between 2023 and 2030. The expansion of the hospitality sector and the increase in hotel room supply are responsible for this growth. Also, the increased product demand in venues including bars, restaurants, coffee shops, and other commercial applications is accelerating regional expansion.
Global Countertops Ball Market Size By Geography, 2021-2030
- Largest
- Fastest
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Countertops Market Dynamics
Countertops Market Drivers
Increasing Investments in Building Construction Infrastructure Refurbishment and Remodelling
- Modular kitchens and decorative shelves for toiletries in luxurious bathrooms, countertops play a significant role in both the residential and commercial sectors. Due to the increasing demand for engineered and natural stone in new construction, major countertop manufacturers are concentrating on producing a variety of materials. In addition, the Global Buildings Performance Network (GBPN) is a leader in lowering the energy required for renovation of existing structures. According to GBP, a typical renovation project can save up to 20%–30% of energy, which lowers the building's degradation process.
- International Surface Fabricators Associations (ISFA) is an organization with standards for solid surfaces and quartz fabrication. This organisation represents fabricators from 13 different nations who uphold the fabrication standards and ISFA's code of conduct while taking advantage of the demand for building supplies. Its market share is significantly boosted by attractive cabinetry materials.
Countertops Market Restraints
Radiation Damage from Granite
- Granite, marble, quartz, slate, and synthetic materials are just a few materials used to build countertops. Granite is the most popular material among house and building construction professionals because of its durability and decorative appeal.
- However, the granite emits harmful radiations which are likely to lessen its popularity for kitchen purpose.
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Countertops Market Competitive Landscape
Details about each competitor are provided in the countertops market competitive landscape. Included information includes a business overview, financials, revenue generated, market potential, R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths, product launches, product breadth and depth, and application dominance. The aforementioned data points are limited to the companies' market focus on countertops.
Countertops Market Top Player’s Company Profiles
- Caesarstone Ltd.
- Cosentino Group
- DuPont de Nemours, Inc.
- Illinois Tool Works Inc.
- Pokarna Limited
- Vicostone Joint Stock Company
- Cambria
- Wilsonart LLC
- Hanwha Corporation
- LG Hausys Ltd.
- Diresco NV
- Pokarna Limited
- Pokarna Engineered Stone Limited
- Formica Group
- Panolam Industries International Inc.
- Schneller LLC
- Agco Inc.
- Jushi Group Co. Ltd.
- Breton S.p.A.
- Guangdong Guangfa Industry Co. Ltd.
Countertops Market Recent Developments
- In July 2022, Growth of HPL Commercial and TracelessTM Laminate Collections was announced by Wilsonart®.
- In February 2022, at the Kitchen & Bath Industry Show (KBIS) in Orlando, Florida, February 8–10, Caesarstone Ltd. introduced eight new natural-inspired surfaces, including the Pebbles Collection, which includes 5 designs that honor the perpetual alteration of wind and water over stone
Countertops Key Market Trends
- Increasing the amount spent on building repairs and renovations: Countertops play a big part because of their expanding uses in the residential and commercial sectors, like elegant shelving for toiletries in luxurious bathrooms and modular kitchens.
- Rise in demand for Engineered Countertops: Major countertop producers are working on developing a variety of materials due to the rising demand for engineered and natural stone in the construction of new buildings
Countertops Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the global countertops market report analysis, the market is driven by increasing demand for high-end residential and commercial construction, remodelling activities, and technological advancements. The market growth in the Asia Pacific is mainly driven by increasing urbanization and changing consumer lifestyles, leading to an increase in the demand for modern and high-quality home décor. To improve their market share and revenue, businesses are concentrating on developing innovative products, forming strategic alliances, and merging with other businesses. Overall, the countertops market is expected to continue to grow in the coming years, driven by increasing demand for high-quality home and commercial interiors, advancements in technology, and the growth of the construction and remodelling industry.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 131.50 billion |
| Market size value in 2031 | USD 231.78 billion |
| Growth Rate | 6.50% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Countertops Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Countertops Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Countertops Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Countertops Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Countertops Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Countertops Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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