Countertop Market - Global Outlook & Forecast 2023-2028

Countertop Market - Global Outlook & Forecast 2023-2028


The global countertop market is expected to grow at a CAGR of 4.56% from 2022 to 2028.

MARKET TRENDS & OPPORTUNITIES

Emerging Demand for Smart Materials

Smart materials possess both inherent and extrinsic qualities that demonstrate adaptability and ingenuity. Progress in material science has facilitated the expansion of this market, giving rise to smart materials such as photovoltaic-integrated electrochromic devices. These materials cater to intelligent applications with specific purposes that were previously challenging to achieve using conventional materials like polymers, plastics, metals, glass, and ceramics.

Rising Demand for Durable Laminate Countertops

Laminate countertops are a type of countertop made from a combination of materials, usually a plastic surface with a paper or fabric backing. The top is then covered with an adhesive and pressed onto a substrate, such as particleboard or plywood. Laminate countertops are often chosen for their affordability and durability. Over the forecast period, the increasing demand for energy-efficient products will drive laminate countertop market demand in kitchen applications. Furthermore, rising consumer expenditure on remodeling their kitchens according to contemporary designs will likely fuel industry expansion over the next years.

SEGMENTATION INSIGHTS

INSIGHTS BY MATERIAL

The global countertop market by material types includes granite, solid surface, quartz, marble, and other materials. The granite material sector asserted its dominance in the industry, commanding a significant share of over 38% in 2022. This supremacy can be attributed to the growing demand for granite as a preferred choice for countertops. The material's inherent strength, abrasion resistance, and impressive durability against weathering have positioned it not only as an exterior cladding and paving option but also as a favored selection among contemporary architects. This trend is anticipated to drive the segment's growth throughout the forecasted period, solidifying granite's status as a reliable and favored material in architectural pursuits.

Segmentation by Material Type
  • Granite
  • Solid Surface
  • Quartz
  • Marble
  • Other Materials
INSIGHTS BY APPLICATION

The kitchen application segment held the largest global countertop market share in 2022. Projections indicate that this segment will remain prominent throughout the forecast period. The escalating demand for countertops in kitchen spaces is a pivotal factor driving the robust growth of the kitchen countertop market. Furthermore, an upward trend in the average proportion of living spaces dedicated to kitchens in new residential constructions is anticipated to amplify further the segment's expansion trajectory over the projected period.

Segmentation by Application
  • Kitchen
  • Bathroom
  • Other Application
INSIGHTS BY END-USER

The residential end-user segment held the largest portion of the global countertop market in 2022 and is anticipated to experience consistent growth at a steady CAGR. The escalating preference for larger kitchens and multiple bathrooms in single-family dwellings within developed nations is a driving force behind the expansion of this segment. Additionally, as homeowners make greater investments in home renovations due to the appreciation of property values, the growth of this sector is being propelled.

Segmentation by End-User
  • Residential
  • Commercial
  • Others
GEOGRAPHICAL ANALYSIS

The Asia Pacific region asserted dominance in the global countertop market, securing the largest portion of the overall revenue, exceeding 30% in 2022. This substantial share can be attributed to elevated living standards and ongoing initiatives to enhance residential and non-residential building structures. Furthermore, the persistent popularity of countertop replacement as a home improvement practice is set to act as a driving force propelling the countertop market forward. Additionally, heightened consumer interest in materials like porcelain slabs, engineered stone, and butcher-block countertops is expected to augment product demand. This interest stems from a desire to transition from laminates and solid surfaces to more aesthetically pleasing and naturally textured surface materials.

Segmentation by Geography
  • North America
  • The U.S.
  • Canada
  • Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • APAC
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
COMPETITIVE LANDSCAPE

The global countertop market landscape analyzed showcases a considerable degree of fragmentation, characterized by the involvement of numerous manufacturers within this industry sector. Among these participants, notable entities in the global countertop market include Cosentino SA, Cambria, Wilsonart LLC, Caesarstone, Formica, and Masco Corporation. Notably, key players in this arena have proactively embraced strategic measures, encompassing mergers and acquisitions and introducing new products. These strategic maneuvers are orchestrated to bolster their market presence, optimize distribution networks, and capture an expanded global countertop market share.

Key Company Profiles
  • Wilsonart LLC
  • Cambria
  • Aristech Surfaces
Other Prominent Vendors
  • Caesarstone
  • Boardveiw
  • Cosentino SA
  • MS International Inc.
  • Daltile
  • Rosskopf + Partner AG
  • Masco Corporation
  • Pokarna Ltd.
  • DuPont (Corian)
  • Diresco
  • LG Hausys
  • HanStone Quartz
  • Formica
KEY QUESTIONS ANSWERED:

1. How big is the countertop market?

2. What is the growth rate of the global countertop market?

3. What are the growing trends in the countertop market?

4. Which region holds the most significant global countertop market share?

5. What is the projected growth trend for the engineered quartz segment?

6. Who are the key players in the global countertop market?


1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
6.1 OVERVIEW
6.2 FUTURE OPPORTUNITIES
6.2.1 EMERGING DEMAND FOR SMART MATERIALS
6.2.2 RISING DEMAND FOR DURABLE LAMINATE COUNTERTOP
6.3 SEGMENTATION ANALYSIS
6.3.1 MATERIAL
6.3.2 APPLICATION
6.3.3 END-USER
6.4 GEOGRAPHICAL ANALYSIS
6.5 COMPETITIVE LANDSCAPE
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.2 RAPID SHIFTING TOWARD URBANIZATION
8.3 CONSUMER BEHAVIOUR INSIGHTS
8.4 PARAMETERS IMPACTING MARKET GROWTH
8.5 IMPACT OF RUSSIA-UKRAINE WAR
8.6 RECENT DEVELOPMENT
9 MARKET OPPORTUNITIES & TRENDS
9.1 EMERGING DEMAND FOR SMART MATERIALS
9.2 RISING DEMAND FOR DURABLE LAMINATE COUNTERTOP
9.3 SURGE IN HOSPITALITY INDUSTRY
10 MARKET GROWTH ENABLERS
10.1 INCREASING DISPOSABLE INCOME
10.2 RISING RESIDENTIAL CONSTRUCTION
10.3 INCREASING RESEARCH & DEVELOPMENT
11 MARKET RESTRAINTS
11.1 LACK OF SKILLED LABOR
11.2 RISING ENVIRONMENT & HEALTH CONCERNS
12 MARKET LANDSCAPE
12.1 MARKET SIZE & FORECAST
12.2 FIVE FORCES ANALYSIS
12.2.1 THREAT OF NEW ENTRANTS
12.2.2 BARGAINING POWER OF SUPPLIERS
12.2.3 BARGAINING POWER OF BUYERS
12.2.4 THREAT OF SUBSTITUTES
12.2.5 COMPETITIVE RIVALRY
13 MATERIAL TYPE
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 GRANITE
13.3.1 MARKET SIZE & FORECAST
13.3.2 MARKET BY GEOGRAPHY
13.4 SOLID-SURFACE
13.4.1 MARKET SIZE & FORECAST
13.4.2 MARKET BY GEOGRAPHY
13.5 QUARTZ
13.5.1 MARKET SIZE & FORECAST
13.5.2 MARKET BY GEOGRAPHY
13.6 MARBLE
13.6.1 MARKET SIZE & FORECAST
13.6.2 MARKET BY GEOGRAPHY
13.7 OTHER MATERIALS
13.7.1 MARKET SIZE & FORECAST
13.7.2 MARKET BY GEOGRAPHY
14 APPLICATION
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 KITCHEN
14.3.1 MARKET SIZE & FORECAST
14.3.2 MARKET BY GEOGRAPHY
14.4 BATHROOM
14.4.1 MARKET SIZE & FORECAST
14.4.2 MARKET BY GEOGRAPHY
14.5 OTHER APPLICATION
14.5.1 MARKET SIZE & FORECAST
14.5.2 MARKET BY GEOGRAPHY
15 END-USER
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 RESIDENTIAL
15.3.1 MARKET SIZE & FORECAST
15.3.2 MARKET BY GEOGRAPHY
15.4 COMMERCIAL
15.4.1 MARKET SIZE & FORECAST
15.4.2 MARKET BY GEOGRAPHY
15.5 OTHERS
15.5.1 MARKET SIZE & FORECAST
15.5.2 MARKET BY GEOGRAPHY
16 GEOGRAPHY
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 GEOGRAPHIC OVERVIEW
17 APAC
17.1 MARKET SIZE & FORECAST
17.2 MATERIAL TYPE
17.2.1 MARKET SIZE & FORECAST
17.3 APPLICATION
17.3.1 MARKET SIZE & FORECAST
17.4 END-USER
17.4.1 MARKET SIZE & FORECAST
17.5 KEY COUNTRIES
17.5.1 CHINA: MARKET SIZE & FORECAST
17.5.2 JAPAN: MARKET SIZE & FORECAST
17.5.3 INDIA: MARKET SIZE & FORECAST
17.5.4 AUSTRALIA: MARKET SIZE & FORECAST
17.5.5 SOUTH KOREA: MARKET SIZE & FORECAST
18 NORTH AMERICA
18.1 MARKET SIZE & FORECAST
18.2 MATERIAL TYPE
18.2.1 MARKET SIZE & FORECAST
18.3 APPLICATION
18.3.1 MARKET SIZE & FORECAST
18.4 END-USER
18.4.1 MARKET SIZE & FORECAST
18.5 KEY COUNTRIES
18.5.1 US: MARKET SIZE & FORECAST
18.5.2 CANADA: MARKET SIZE & FORECAST
19 EUROPE
19.1 MARKET SIZE & FORECAST
19.2 MATERIAL TYPE
19.2.1 MARKET SIZE & FORECAST
19.3 APPLICATION
19.3.1 MARKET SIZE & FORECAST
19.4 END-USER
19.4.1 MARKET SIZE & FORECAST
19.5 KEY COUNTRIES
19.5.1 GERMANY: MARKET SIZE & FORECAST
19.5.2 UK: MARKET SIZE & FORECAST
19.5.3 FRANCE: MARKET SIZE & FORECAST
19.5.4 ITALY: MARKET SIZE & FORECAST
19.5.5 SPAIN: MARKET SIZE & FORECAST
20 LATIN AMERICA
20.1 MARKET SIZE & FORECAST
20.2 MATERIAL TYPE
20.2.1 MARKET SIZE & FORECAST
20.3 APPLICATION
20.3.1 MARKET SIZE & FORECAST
20.4 END-USER
20.4.1 MARKET SIZE & FORECAST
20.5 KEY COUNTRIES
20.5.1 BRAZIL: MARKET SIZE & FORECAST
20.5.2 MEXICO: MARKET SIZE & FORECAST
20.5.3 ARGENTINA: MARKET SIZE & FORECAST
21 MIDDLE EAST & AFRICA
21.1 MARKET SIZE & FORECAST
21.2 MATERIAL TYPE
21.2.1 MARKET SIZE & FORECAST
21.3 APPLICATION
21.3.1 MARKET SIZE & FORECAST
21.4 END-USER
21.4.1 MARKET SIZE & FORECAST
21.5 KEY COUNTRIES
21.5.1 SAUDI ARABIA: MARKET SIZE & FORECAST
21.5.2 UAE: MARKET SIZE & FORECAST
21.5.3 SOUTH AFRICA: MARKET SIZE & FORECAST
22 COMPETITIVE LANDSCAPE
22.1 COMPETITION OVERVIEW
23 KEY COMPANY PROFILES
23.1 WILSONART LLC
23.1.1 BUSINESS OVERVIEW
23.1.2 PRODUCT OFFERINGS
23.1.3 KEY STRATEGIES
23.1.4 KEY STRENGTHS
23.1.5 KEY OPPORTUNITIES
23.2 CAMBRIA
23.2.1 BUSINESS OVERVIEW
23.2.2 PRODUCT OFFERINGS
23.2.3 KEY STRATEGIES
23.2.4 KEY STRENGTHS
23.2.5 KEY OPPORTUNITIES
23.3 ARISTECH SURFACES
23.3.1 BUSINESS OVERVIEW
23.3.2 PRODUCT OFFERINGS
23.3.3 KEY STRATEGIES
23.3.4 KEY STRENGTHS
23.3.5 KEY OPPORTUNITIES
24 OTHER PROMINENT VENDORS
24.1 CAESARSTONE
24.1.1 BUSINESS OVERVIEW
24.1.2 PRODUCT OFFERINGS
24.2 BOARDVEIW
24.2.1 BUSINESS OVERVIEW
24.2.2 PRODUCT OFFERINGS
24.3 COSENTINO SA
24.3.1 BUSINESS OVERVIEW
24.3.2 PRODUCT OFFERINGS
24.4 M S INTERNATIONAL INC.
24.4.1 BUSINESS OVERVIEW
24.4.2 PRODUCT OFFERINGS
24.5 DALTILE
24.5.1 BUSINESS OVERVIEW
24.5.2 PRODUCT OFFERINGS
24.6 ROSSKOPF + PARTNER AG
24.6.1 BUSINESS OVERVIEW
24.6.2 PRODUCT OFFERINGS
24.7 MASCO CORPORATION
24.7.1 BUSINESS OVERVIEW
24.7.2 PRODUCT OFFERINGS
24.8 POKARNA LTD.
24.8.1 BUSINESS OVERVIEW
24.8.2 PRODUCT OFFERINGS
24.9 DUPONT (CORIAN)
24.9.1 BUSINESS OVERVIEW
24.9.2 PRODUCT OFFERINGS
24.10 DIRESCO
24.10.1 BUSINESS OVERVIEW
24.10.2 PRODUCT OFFERINGS
24.11 LG HAUSYS
24.11.1 BUSINESS OVERVIEW
24.11.2 PRODUCT OFFERINGS
24.12 HANSTONE QUARTZ
24.12.1 BUSINESS OVERVIEW
24.12.2 PRODUCT OFFERINGS
24.13 FORMICA
24.13.1 BUSINESS OVERVIEW
24.13.2 PRODUCT OFFERINGS
25 REPORT SUMMARY
25.1 KEY TAKEAWAYS
25.2 STRATEGIC RECOMMENDATIONS
26 QUANTITATIVE SUMMARY
26.1 MARKET BY GEOGRAPHY
26.2 MARKET BY MATERIAL TYPE
26.3 MARKET BY APPLICATION
26.4 MARKET BY END-USER
27 APPENDIX
27.1 ABBREVIATIONS

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