November 30, 2022

According to the latest report, titled “Countertop Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The global countertop market size stood at USD 89.18 billion in 2019 and is projected to reach USD 110.54 billion by 2027, exhibiting a CAGR of 2.8% during the forecast period

This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Countertop Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Countertop Market.

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A few top players in the industry are

  • Vicostone (Hanoi, Vietnam)
  • Aro Granite Industries Ltd. (New Delhi, India)
  • POKARNA LIMITED (Secunderabad, India)
  • (North Carolina, United States)
  • DuPont de Nemours, Inc. (Delaware, United States)
  • Masco Corporation (Michigan, United States)
  • STRASSER Steine GmbH (St. Martin i.M., Austria )
  • Wilsonart LLC. (Texas, United States)
  • ARISTECH SURFACES LLC (Kentucky, United States)
  • Cambria (Le Sueur, Minnesota)
  • Cosentino S.A. (Almería, Spain)

The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Countertop Market and the market concentration is described in the report.

Regional Analysis:

On the basis of Geography, the Global Countertop Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Countertop Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.

The growing number of Countertop Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.

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Rising Demand for Quartz Countertops to Boost Growth

Countertops made of quartz are experiencing high demand across the globe. Quartz is a durable, non-porous, and strong man-made stone. It is very popular in the commercial spaces, namely, restaurants, hotels, and laboratories as it is capable of handling liquids, such as wine, oil, water, and chemicals very well. Besides, the rapid urbanization in countries such as Japan, India, and China is causing high demand for such worktops from the residential sector. However, granites are also used for making them. But, they have harmful effects on the human health as they release radiation. It may hamper the countertops market growth in the coming years.

An overview of the Countertop Market’s regional outlook:

The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.

Ceramic Segment to Grow Steadily Backed by Their Increasing Usage

In terms of material, the market is segregated into wood, ceramic, plastic laminate, solid surfaces, concrete, engineered stone, and natural stone. Out of these, the ceramic segment held 11.4% market share in 2019. This growth is attributable to the rising usage of ceramic countertops in washrooms, restaurants, and kitchens. Besides, the enhancement in the manufacturing process since the past few years has surged the demand for such products.

Regional Analysis-

Asia Pacific to Dominate Owing to Rising Demand in India & China

Asia Pacific procured USD 29.67 billion in terms of revenue in 2019 and is anticipated to lead the market in the coming years. This is likely to occur because of the major contribution of Japan, India, and China. These countries are showcasing persistent commercialization and urbanization. China is considered to dominate on account of the high demand for engineered quartz work platforms for residential and commercial applications. The Federation of Indian Granite & Stone Industry (FIGSI) mentioned that India stands in the 4th position in terms of natural stone trade. It possesses 15% of natural stone reserve. However, the recent outbreak of the Covid-19 pandemic may obstruct the production process in the developing countries.

FAQs:

  1. What is the driving factor for the growth of the Countertop Market?
  2. How will the COVID-19 pandemic impact the demand and consumption of the Countertop Market?
  3. What is the major application area of the Countertop Market?
  4. Who are the Countertop Market manufacturers across the globe?
  5. Which geographical location is dominant in the Countertop Market?
  6. Which are the top industry players in the Countertop Market?

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