By 2028, the worldwide market size for Countertops is expected to grow to approximately USD 181 billion. It is also anticipated that in the predicted years 2021-2028 a CAGR of around 5.80%. The trend within the worldwide market for countertop has been rising on account of the necessity to enhance the use of interior spaces in families and organizations. The convenience of countertops is confirmed by the fact that these platforms are essential built across luxury bathrooms, modular kitchens, and state of the art labs. Moreover, countertops are versatile platforms with various applications and these tops have grown extremely popular.
The building business has swiftly integrated the newest technologies, raising demand for modern countertops. Countertops have gone from simple concrete platforms to multipurpose platforms put on top sleeves and other poor quality mechanisms. Due to the comprehensive services that Countertops give the international countertop business is expected to produce enormous revenues in the next years.
The market expansion is driven by factors such as increased availability, growing food-serving facilities and the increasing desire for large kitchens as well as numerous bathrooms. In addition, the industry is seeing substantial growth because of the continued expansion in residential development globally and increasing private expenditure on home improvement. Countertops often are mounted in new homes and kitchens during remodelling.
Furthermore, the refinancing of mortgages and lending by the banks has increased and, consequently, more credit is provided for the renovation of existing residences which further increases the demand for countertop products. Due to the rising desire for higher prices rather than laminates, the market value of the market under consideration will increase throughout the projection period. Continuous progress in developed economies like China, India and Brazil further boosts countertop demand.
The report highlights many characteristics of the worldwide countertop business by evaluating the market against the falling value chain. In the research, there are also several characteristics that include market constraints, drivers and major industry prospects in the Countertops sector. In addition, the study provides an extensive assessment of company profiling and of the competitiveness of local and international vendors on the market.
By 2020, there were over 25% of the industrial share in the global market led by granite countertops. Granite workshops have been a popular consumer choice in recent years, particularly for residential applications like as designs of kitchens and bathrooms. Due to cracking, cutting, scratching and heat resistance features, its application will probably be improved in the next several years. Properly sealed worktops in granite may be readily installed. In addition, soap and water may be easily cleaned to withstand bleach. Furthermore, granite countertops are 2 or 3 times greater than laminate and quartz, making the material more consumer-friendly..
In 2020 the overall market dominated by granite countertops accounted for approximately 25% of the industrial share. Granite worktops have in recent years been a popular consumer option, particularly for domestic applications like kitchen and bathroom designs. Their use is likely to be improved in the next several years against cracking, cutting, scratching and thermal-resistant characteristics. Properly sealed granite countertops may be installed easily. Furthermore, it is easy to clean up with soap and water to withstand bleach. In addition, granite countertops live between 2 to 3 times higher than laminate and quartz, which tend to make the material more consumer-oriented.
The Asia-Pacific region is one of the biggest markets for Countertops in 2020. The Asia-Pacific region is likely to have significant increases in countertop sales, particularly over the forecast period in growing nations such as India and China. There is probably demand for countertops in China, which is Asia's fastest growing countertop market, as a consequence of reasons like increased standards of consumer life and continuous programmes for housing and non-house renovation. India is the region's second-highest developing market and the rise of the district networks and construction sector is anticipated to witness an upward surge in sales of countertop goods, owing to factors such as economic growth.
Due to the presence of several small and medium-sized manufacturers, the worldwide MIM market is fragmented, while at the regional level most major companies in Europe and North America are consolidated. The key players of the Countertops market are ARISTECH SURFACES LLC, Arborite, Cambria, Caesarstone, Wilsonart LLC, Cosentino S.A., Formica, and Masco Corporation. New Countertops products are offered by renowned firms. Furthermore, the industry is approached by both previously known and new companies using sophisticated and innovative methods to remain competitive on the world market.
Segment Overview of Global Countertops Market
Material Overview, 2019 - 2028 (USD Billion)
- Solid Surface
Application Overview, 2019-2028 (USD Billion)
Regional Overview, 2019-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America