Global Countertops Market Trends 2018, by Material (Granite, Solid Surface, Quartz, Laminate, Marble, Others), by Application (Residential and Non-residential), By Region, and Forecast 2019 to 2025
May 2019
Total Pages: 120
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The global countertops market size in 2018 was valued at more than USD 100 billion. Improving building & construction activity, primarily in the developed economies such as US, Western Europe, and Japan is likely to drive the market demand by 2025. Efforts of developing economies to modernize and expand infrastructure is another important market growth booster.
Use of countertops in bathrooms, kitchen, and other interior construction areas has been prominent in developed economies, as a consequence of rising per capita spending and improved standard of living. North America was the third-largest market in the global countertop market in 2018. Recovery of the US building & construction sectors including the single family housing sectors has increased the consumer preferences for modular kitchen and multiple bathroom spaces.This, in turn, is expected to propel the consumption of countertops in the coming years.
U.S. housing construction has gained pace in 2009, after decline in 2008. Increasing residential activity followed by growing demand for luxury kitchen and bathroom is expected to spur the countertops market demand. Apart from residential applications, countertops are increasingly used in industrial, business areas, commercial, and retail industry. Granite is the first choice among architects, builders, property owners, designers owing to the virtue of the elegant and sophisticated aesthetics and weather resistant, longer life span, low maintenance, attributes. Increasing interior building & construction applications such as entry and door frames, lobbies and waiting areas, conference rooms, inlays, bathrooms, dining rooms, lounges, and restaurants are expected to increase the demand for countertops materials over the coming years.
Key segments of the global countertops market
Material Overview, 2016 - 2025 (Million Square Feet) (USD Billion)
- Granite
- Solid Surface
- Quartz
- Laminate
- Marble
- Others
Application Overview, 2016 - 2025 (Million Square Feet) (USD Billion)
- Residential
- Non-residential
Regional Overview, 2016 - 2025 (Million Square Feet) (USD Billion)
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Asia-Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an comprehensive outlook of the global countertops market industry
- Quartz surface countertops is expected to gain traction over the coming years by virtue of low maintenance cost as compared to other materials
- Rising construction activity in developing economies followed by economic recovery in developed nations is expected to spur the market
What does the report include?
- The study on the global countertops market includes qualitative aspects such as market drivers, opportunities, and restraints
- The market has been assessed using the value chain, SWOT, and Porter’s Five Forces’ analysis.
- The study covers quantitative and qualitative study of the market segmented by material, application and region.
- Market size estimation and forecast have been provided for all the above-mentioned segments
- The countertops industry study contains the profiles of prominent manufacturers with a significant global and regional presence
Who should buy this report?
- Executives and R&D professionals of countertops companies.
- Countertops raw material supplier.
- Financial institutions looking to issue current trends and projected indicators pertaining to countertops.
- Regulatory authorities, Government organizations, financial organizations, and policymakers looking for innovative product solutions and development.
- Strategy managers, researchers, analysts, academic institutions, and educators looking for understandings into the market to determine future tactics.
Global countertops industry is highly fragmented in nature as large number of manufacturers are operating in this industry. Some prominent players are Arborite, ARISTECH SURFACES LLC, Cambria, Wilsonart LLC, Caesarstone, Formica, Cosentino S.A., and Masco Corporation. Key manufacturers have been adopting M&A and new product development strategies to strengthen their presence and distribution channels and hence gain a higher market share.
- In May 2016, Arborite, a Canadian manufacturer of decorative plastic laminates acquired Lamin-Art. This acquisition helped Arborite to strengthen its laminate business division and distribution channel in North America.
- In August 2017, Greenply Industries, an Indian manufacturer that is engaged in offering interior infrastructure products, entered into an agreement with Aristech Surfaces LLC, a United States based company specialized in manufacturing surface and design materials for promotion and marketing of acrylic solid surface sheets in India. This acquisition is expected to increase market concentration of solid surface countertops in India over the years ahead.
- In December 2018, Fletcher Building Limited, a New Zealand based company announced the sale of its Formica Group to Broadview Industries, a Netherland based company specialized in manufacturing laminate product lines. This divestment is expected to focus on company’s core business unit building products in Australia and New Zealand.
- In October 2018, Cambria, a U.S. based engineered quartz surface producer announced acquisition of quartz mine in North America, that yields pure quality quartz. This acquisition is likely to offer Cambria a full control on every process such as raw material inspection, procurement, and quality check of mine itself in the future. One of the leading providers of quartz countertops in North America, Cambria is expected to gain market share through this acquisition.
- In July 2017, Wilsonart and Hanwha L&C Corporation, a South Korean company engaged in distribution, manufacturing, and promotion of building materials, announces joint venture. The aim of the joint venture is to build a manufacturing facility in Texas, to expand and strengthen Wilsonart solid surface product lines and Hanex solid surfaces.
- In January 2015, Mohawk Industries, Inc., a U.S. based flooring manufacturer announced the purchase of IVC Group, a manufacturer of laminate, and vinyl sheet with operations in U.S. and Europe. This acquisition has led Mohawk Industries, Inc. to gain access to the trade locations and distribution networking mainly in North America and Europe.
Quartz is expected to be the fastest growing material in global countertops market. In 2018, quartz material accounted for more than 10% of overall market share. Growing variety of colors, designs, and patterns of quartz countertops has boosted its popularity among consumers. Moreover, low maintenance cost as compared to granite, marble, and solid surface makes quartz countertops an ideal option for kitchen interiors. This, in turn, is expected to increase market penetration over the coming years. Consumer preferences for light color palettes is expected to be the reason behind boom towards quartz materials, over dark granite and solid surface countertops. Improved aesthetics and low cost as compared to other countertop materials is expected to increase the market concentration of quartz over the coming years.
In 2018, granite countertops dominated the overall market constituting more than 25% of the industry share. Over the past few years, granite countertops have become a popular choice of consumers especially for residential applications such as kitchen and bathroom interiors. Resist to cracking, chipping, scratching, and heat resistant properties is expected to increase its adoption over the coming years. Properly sealed granite counters are easy to install. In addition to this, resist to staining makes easy to clean up using soap and water. Furthermore, life span of granite countertops is 2 to 3 times higher as compared to laminate and quartz, owing to which the material tends to attract a larger consumer base.
Solid surface used in making countertops are basically synthetic materials produced from composite of polyester or acrylic. Impermeability to staining and non-porous material characteristics makes solid surface countertops easy to maintain. Low cost, relatively high durability than natural stone, and combination of best performance attributes is expected to enable solid surface countertops market to gain traction over the coming years. However, these materials are soft as compared to quartz and granite and are easily prone to cracks. This attribute may hinder the forecast market demand of solid surface countertops to a certain extent..
Increasing construction of new homes, offices, and remodeling of existing structures is expected to boost the market demand of countertops. Economic development followed by increasing per capita spending in countries such as India, China, Brazil, and Saudi Arabia is expected to offer a lucrative opportunity for countertops over the coming years. Government initiatives for construction activities in developing countries is expected to prompt raw material (granite, quartz) providers to expand their production capacities in order to fulfill end-user requirements. For instance, the recent initiative by the Indian Government named as “Pradhan Mantri Awas Yojana (PMAY)”, has proposed the provision of affordable housing for urban population of low income group with an aim to build 20 million houses by the end of May 2022.
According to the BNC Project Intelligence, more than 20,000 construction projects are active in the GCC countries, of which over 50% are present in the United Arab Emirates. Increasing construction activities followed by strengthening economic scenario in Kuwait, Qatar, Oman, Saudi Arabia, UAE, and Bahrain is expected to create a positive outlook for the countertop industry over the coming years. In terms of stone demand, GCC accounted for more than 20% share of the overall industry, which is projected to reach nearly 20 billion tons by 2022. As per the BNC Project Intelligence, in 2018, urban construction accounted for more than 70% of the overall construction activities in GCC.
Growing population coupled with rapid urbanization is expected to bolster the demand for residential and commercial construction projects in African countries. The African government and multinational companies are developing the property sector to offer affordable housing and are also encouraging the industry to towards the development of building materials. For instance, in May 2019, International Finance Corporation (IFC) a World Bank Group and Chinese multinational construction and engineering company initiated a USD 300 million investment to develop housing sector in African countries. This platform is expected to capital investment and motivate the local developers for active participation to to develop nearly 30,000 homes in the next five years.
The global countertops market size in 2018 was valued at more than USD 100 billion. Improving building & construction activity, primarily in the developed economies such as US, Western Europe, and Japan is likely to drive the market demand by 2025. Efforts of developing economies to modernize and expand infrastructure is another important market growth booster.
Use of countertops in bathrooms, kitchen, and other interior construction areas has been prominent in developed economies, as a consequence of rising per capita spending and improved standard of living. North America was the third-largest market in the global countertop market in 2018. Recovery of the US building & construction sectors including the single family housing sectors has increased the consumer preferences for modular kitchen and multiple bathroom spaces.This, in turn, is expected to propel the consumption of countertops in the coming years.
U.S. housing construction has gained pace in 2009, after decline in 2008. Increasing residential activity followed by growing demand for luxury kitchen and bathroom is expected to spur the countertops market demand. Apart from residential applications, countertops are increasingly used in industrial, business areas, commercial, and retail industry. Granite is the first choice among architects, builders, property owners, designers owing to the virtue of the elegant and sophisticated aesthetics and weather resistant, longer life span, low maintenance, attributes. Increasing interior building & construction applications such as entry and door frames, lobbies and waiting areas, conference rooms, inlays, bathrooms, dining rooms, lounges, and restaurants are expected to increase the demand for countertops materials over the coming years.
Key segments of the global countertops market
Material Overview, 2016 - 2025 (Million Square Feet) (USD Billion)
- Granite
- Solid Surface
- Quartz
- Laminate
- Marble
- Others
Application Overview, 2016 - 2025 (Million Square Feet) (USD Billion)
- Residential
- Non-residential
Regional Overview, 2016 - 2025 (Million Square Feet) (USD Billion)
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Asia-Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
Reasons for the study
- The purpose of the study is to give an comprehensive outlook of the global countertops market industry
- Quartz surface countertops is expected to gain traction over the coming years by virtue of low maintenance cost as compared to other materials
- Rising construction activity in developing economies followed by economic recovery in developed nations is expected to spur the market
What does the report include?
- The study on the global countertops market includes qualitative aspects such as market drivers, opportunities, and restraints
- The market has been assessed using the value chain, SWOT, and Porter’s Five Forces’ analysis.
- The study covers quantitative and qualitative study of the market segmented by material, application and region.
- Market size estimation and forecast have been provided for all the above-mentioned segments
- The countertops industry study contains the profiles of prominent manufacturers with a significant global and regional presence
Who should buy this report?
- Executives and R&D professionals of countertops companies.
- Countertops raw material supplier.
- Financial institutions looking to issue current trends and projected indicators pertaining to countertops.
- Regulatory authorities, Government organizations, financial organizations, and policymakers looking for innovative product solutions and development.
- Strategy managers, researchers, analysts, academic institutions, and educators looking for understandings into the market to determine future tactics.
Chapter 1. Research Methodology
1.1. Research approach
1.2. Scope, definition, and assumptions
1.3. Data sources
Chapter 2. Executive Summary
Chapter 3. Market Outlook
3.1. Introduction
3.2. Key trends
3.2.1. Market drivers
3.2.2. Market restraints
3.2.3. Market opportunities
3.3. Porters five forces analysis
3.4. Value chain analysis
3.5. Vendor landscape analysis
Chapter 4. Global Countertops Market Overview, By Material
4.1. Global countertops market share, by material, 2018 & 2025
4.2. Granite
4.2.1. Market size and projections, 2016 - 2025
4.3. Solid surface
4.3.1. Market size and projections, 2016 – 2025
4.4. Laminate
4.4.1. Market size and projections, 2016 - 2025
4.5. Quartz surfaces
4.5.1. Market size and projections, 2016 - 2025
4.6. Marble
4.6.1. Market size and projections, 2016 - 2025
4.7. Others
4.7.1. Market size and projections, 2016 - 2025
Chapter 5. Global Countertops Market Overview, By Application
5.1. Global countertops market share, by application, 2018 & 2025
5.2. Residential
5.2.1. Market size and projections, 2016 - 2025
5.3. Non residential
5.3.1. Market size and projections, 2016 - 2025
Chapter 6. Global Countertops Market Overview, By Region
6.1. Global countertops market share, by region, 2018 & 2025
6.2. North America
6.2.1. Market size & projections, 2016 - 2025
6.2.2. Market size & projections, by material, 2016 - 2025
6.2.3. Market size & projections, by application, 2016 - 2025
6.2.4. U.S.
6.2.4.1. Market size & projections, 2016 - 2025
6.2.4.2. Market size & projections, by material, 2016 - 2025
6.2.4.3. Market size & projections, by application, 2016 - 2025
6.3. Europe
6.3.1. Market size & projections, 2016 - 2025
6.3.2. Market size & projections, by material, 2016 - 2025
6.3.3. Market size & projections, by application, 2016 - 2025
6.3.4. Germany
6.3.4.1. Market size & projections, 2016 - 2025
6.3.4.2. Market size & projections, by material, 2016 - 2025
6.3.4.3. Market size & projections, by application, 2016 - 2025
6.3.5. UK
6.3.5.1. Market size & projections, 2016 - 2025
6.3.5.2. Market size & projections, by material, 2016 - 2025
6.3.5.3. Market size & projections, by application, 2016 - 2025
6.3.6. France
6.3.6.1. Market size & projections, 2016 - 2025
6.3.6.2. Market size & projections, by material, 2016 - 2025
6.3.6.3. Market size & projections, by application, 2016 - 2025
6.4. Asia Pacific
6.4.1. Market size & projections, 2016 - 2025
6.4.2. Market size & projections, by material, 2016 - 2025
6.4.3. Market size & projections, by application, 2016 - 2025
6.4.4. China
6.4.4.1. Market size & projections, 2016 - 2025
6.4.4.2. Market size & projections, by material, 2016 - 2025
6.4.4.3. Market size & projections, by application, 2016 - 2025
6.4.5. India
6.4.5.1. Market size & projections, 2016 - 2025
6.4.5.2. Market size & projections, by material, 2016 - 2025
6.4.5.3. Market size & projections, by application, 2016 - 2025
6.4.6. Japan
6.4.6.1. Market size & projections, 2016 - 2025
6.4.6.2. Market size & projections, by material, 2016 - 2025
6.4.6.3. Market size & projections, by application, 2016 - 2025
6.5. Central & South America
6.5.1. Market size & projections, 2016 - 2025
6.5.2. Market size & projections, by material, 2016 - 2025
6.5.3. Market size & projections, by application, 2016 - 2025
6.5.4. Brazil
6.5.4.1. Market size & projections, 2016 - 2025
6.5.4.2. Market size & projections, by material, 2016 - 2025
6.5.4.3. Market size & projections, by application, 2016 - 2025
6.6. Middle East & Africa
6.6.1. Market size & projections, 2016 - 2025
6.6.2. Market size & projections, by material, 2016 - 2025
6.6.3. Market size & projections, by application, 2016 - 2025
Chapter 7. Company Profiles
7.1. Arborite
7.1.1. Company overview
7.1.2. Product portfolio
7.1.3. Key developments
7.1.4. Financial performance
7.2. ARISTECH SURFACES LLC
7.2.1. Company overview
7.2.2. Product portfolio
7.2.3. Key developments
7.2.4. Financial performance
7.3. Arpa Industriale S.p.A.
7.3.1. Company overview
7.3.2. Product portfolio
7.3.3. Key developments
7.3.4. Financial performance
7.4. Cambria
7.4.1. Company overview
7.4.2. Product portfolio
7.4.3. Key developments
7.4.4. Financial performance
7.5. Wilsonart LLC
7.5.1. Company overview
7.5.2. Product portfolio
7.5.3. Key developments
7.5.4. Financial performance
7.6. LOTTE ADVANCED MATERIALS CO., LTD.
7.6.1. Company overview
7.6.2. Product portfolio
7.6.3. Key developments
7.6.4. Financial performance
7.7. Caesarstone
7.7.1. Company overview
7.7.2. Product portfolio
7.7.3. Key developments
7.7.4. Financial performance
7.8. Formica
7.8.1. Company overview
7.8.2. Product portfolio
7.8.3. Key developments
7.8.4. Financial performance
7.9. Cosentino S.A.
7.9.1. Company overview
7.9.2. Product portfolio
7.9.3. Key developments
7.9.4. Financial performance
7.10. M S International, Inc.
7.10.1. Company overview
7.10.2. Product portfolio
7.10.3. Key developments
7.11. AKP Carat worktops GmbH
7.11.1. Company overview
7.11.2. Product portfolio
7.11.3. Key developments
7.11.4. Financial performance
7.12. Cheil Industries, Inc.
7.12.1. Company overview
7.12.2. Product portfolio
7.12.3. Key developments
7.12.4. Financial performance
7.13. Daltile
7.13.1. Company overview
7.13.2. Product portfolio
7.13.3. Key developments
7.13.4. Financial performance
7.14. ROSSKOPF + PARTNER AG
7.14.1. Company overview
7.14.2. Product portfolio
7.14.3. Key developments
7.14.4. Financial performance
7.15. Masco Corporation
7.15.1. Company overview
7.15.2. Product portfolio
7.15.3. Key developments
7.15.4. Financial performance
7.16. List of other vendors