Countertops Market Growth & Trends
The global countertops market size is expected to reach USD 217.79 billion by 2030, registering a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc. Countertops play a significant role in both the home and commercial sectors, with its expanding applications, including modular kitchens and beautiful shelves for toiletries in opulent bathrooms.
On account of the increasing demand for engineered and natural stone in the construction of new buildings, major countertop manufacturers are concentrating on producing a variety of materials. Work platforms are in greater demand due to the investments by construction companies worldwide in renovating existing structures.Furthermore, due to climatic changes and rising pollution, buildings in regions like Asia Pacific, Europe, and North America are degrading.
The construction of the kitchen, bathroom, retail, and laboratory platforms increases the need for natural stone, engineered stone, concrete, laminates, and other building materials.
In terms of value, the granite material segment dominated the industry in 2022 and accounted for the largest revenue share in the same year. The increasing demand for the granite material countertop in kitchens owing to their properties like heat resistance, affordability, and durability is boosting the segment growth. The commercial end-user segment is projected to grow at the fastest CAGR over the forecast period.
Increasing demand for countertops in commercial spaces for various applications is boosting segment growth. In addition, platforms made of phenolic resin, epoxy resin, high-pressure laminate, stainless steel, and chemical-resistant laminate are in demand in research facilities. These kinds of chemical-resistant resins are used to create strong, long-lasting cabinetry materials and decorative surfaces. This may propel the market growth over the forecast period. Asia Pacific held the largest share in 2022 owing to the increasing residential and commercial construction sector in developing countries, such as China and India, which increases the consumers’ need to invest in home improvement activities.
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Countertops Market Segmentation
Grand View Research has segmented the global countertops market on the basis of material, application, end-user, and region:
Countertops Material Outlook (Revenue, USD Million, 2017 – 2030)
- Solid Surface
- Engineered Quartz
Countertops Application Outlook (Revenue, USD Million, 2017 – 2030)
Countertops End-user Outlook (Revenue, USD Million, 2017 – 2030)
List of Key Players of Countertops Market
- ARISTECH SURFACES LLC
- Wilsonart LLC
- Cosentino SA
- M S International Inc.
- ROSSKOPF + PARTNER AG
- Masco Corp.
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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