Global Countertops Market Size Will Surpass $204.3 Billion by 2030 at 6.9% CAGR Growth

WASHINGTON, July 19, 2023 (GLOBE NEWSWIRE) -- The Global Countertops Market accounted for USD 128.1 Billion in 2022 and is expected to have USD 204.3 Billion by 2030 at a CAGR of 6.9% over the projected period of 2023-2030.

The Countertops Market is one of the fastest-growing markets economically, and consistent expansion is expected in the forecast period. Regardless of the industry's difficulties, various factors could influence its growth. This report evaluates current trends and future developments to provide a comprehensive industry view. It also includes information on the major industry players and their expansion initiatives.

The research examines worldwide producers and suppliers in-depth, as well as their recent state and future possibilities. It also discusses the global drivers of demand for this market in-depth, such as changing consumer preferences and lifestyles, home remodeling and renovation activities, and expansion of the construction industry.

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Market Overview

According to Vantage Market Research, the growing demand for aesthetically pleasing and useful products in the construction industry is one of the key factors driving the Countertops market. Countertops are essential for improving a room's overall appearance and feel while offering durability and simple maintenance. Homeowners and businesses are willing to spend money on high-quality Countertops that will match their decor and withstand daily use due to the increasing emphasis on interior design. The growing acceptance of open-concept kitchens and contemporary lifestyles that place a premium on cooking and entertaining at home also adds to the demand for beautiful and useful Countertops.

According to our forecast, by 2030 the quartz Countertops segment will be one of the market's leading sub-sectors. Because of their toughness, ease of maintenance, and aesthetic appeal, quartz Countertops have grown in popularity. Quartz Countertops are non-porous, unlike Countertops made of natural stone, which makes them resistant to stains and bacterial growth. Additionally, homeowners have a variety of options to choose from while having their kitchens or bathrooms look better overall. Due to its rapidly expanding infrastructure and construction industries, the Asia Pacific region leads the world in the market for Countertops. Moreover, with over two-thirds of the global demand for solid surface Countertops coming from the Asia Pacific region, it is anticipated that solid surface will see an increase in its share of global sales. Significant local manufacturing capacity, particularly in China, Japan, and South Korea, supports demand. The demand for contemporary and aesthetically pleasing Countertops in residential and commercial spaces is being driven by population growth, increased urbanization, and rising disposable income. The region's dominance in the Countertops market is also aided by its manufacturing prowess and accessibility to affordable raw materials.

Market Dynamics

Rising Demand for Durable and Low-Maintenance Countertops One of the main growth drivers in the Countertops market is the rising demand for strong, low-maintenance Countertops. Consumers are increasingly looking for Countertops that can withstand daily use while requiring little maintenance as they become more aware of the long-term value of their investments. Due to their superior durability and resistance to stains, scratches, and heat, materials like quartz and engineered stone have seen a rise in popularity. For instance, studies predict that the market for quartz Countertops will grow to $13 billion by 2027. This reflects how consumers are increasingly favoring Countertops that have both aesthetic appeal and practical advantages.

Growing Preference for Customization and Unique Design Options Consumers of today value uniqueness and individuality, which leads them to look for Countertops that can be customized to suit their unique preferences and requirements. To address a variety of consumer preferences, countertop suppliers and manufacturers have responded to this trend by providing a wide range of customizable options in terms of colors, patterns, finishes, and edge profiles. Additionally, technological developments like digital printing have made it possible to produce Countertops that resemble natural stone, increasing both their aesthetic appeal and affordability. The market has grown significantly as a result of the emphasis on customization and distinctive design, as customers are willing to spend money on Countertops that reflect their individual tastes and improve the aesthetics of their spaces.

Top Players in the Global Countertops Market

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Top Trends in the Global Countertops Market

Top Report Findings

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Demand for Enhanced Services and New Technologies According to the analysis, the top three important companies in the Countertops Market are Cosentino Group, Caesarstone Ltd., and Wilsonart International. These companies will likely gain from expanding demand for their services and increased investment in new technologies to improve their offerings. Formica Corporation, DuPont de Nemours Inc., Hanwha Surfaces, Deriblok Group Co. Ltd., LG Hausys Ltd., Pokarna Ltd., and Vicostone Joint Stock Company are the other key competitors. According to a recent analysis issued by Vantage Market Research, the top ten firms generate more than 58% of the market's revenue.

Recycled Materials are Expected to be in Demand By 2030 Vantage Market Research analyzed the market for Countertops Market to understand its recent situation and potential future growth factors. For a better understanding, based on the Material segment Countertops Market is categorized into Granite, Quartz, Marble, Laminate, Concrete, Soapstone, Engineered Quartz, Stainless Steel, Wood, and Other Materials.

According to our projections, by 2030, recycled materials are expected to dominate the Countertops market. Consumers are choosing recycled materials like glass, concrete, and metal more frequently for their Countertops due to growing concerns about sustainability and minimizing environmental impact. These materials offer a distinctive and environmentally friendly choice that combines robustness and aesthetic appeal.

In terms of market share, a segment that will dominate the Countertops Market in 2022 is quartz Countertops. Quartz Countertops have grown in popularity because of their resistance to stains, scratches, and heat. They are also known for being long-lasting and low-maintenance. Additionally, they provide a wide variety of hues and patterns, enabling homeowners to select a product that complements their aesthetic preferences. Quartz Countertops continue to be in high demand due to their flawless fusion of elegance and usefulness. Moreover, quartz countertop manufacturers have started incorporating antimicrobial agents into the countertop material to inhibit the growth of bacteria, viruses, mold, and mildew on the surface. This development provides an added layer of hygiene and safety, making quartz Countertops even more resistant to the growth of harmful microorganisms.

Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Countertops Market Forecast Report (2023-2030).

Global Countertops Market Segmentation

By Material Type

By End-User

By Distribution Channel

By Region

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