The engineered stone market on a global scale reached a size of USD 22.65 Billion in 2021 and is anticipated to maintain a consistent Compound Annual Growth Rate (CAGR) of 6.2% from 2022 to 2030. In order to balance the high cost of natural stone with its aesthetic appeal, the construction industry has created synthetic alternatives that can be produced in various colors and do not require transportation like their genuine counterparts. By incorporating engineered stone into construction projects, companies in the construction sector can achieve the same visual appeal as natural stone while simultaneously reducing costs. Engineered stone possesses unique advantages such as durability, flexibility, and consistency, making it a practical choice for new construction and renovation endeavors. Furthermore, the surge in residential construction projects globally and the growing popularity of engineered stone kitchen countertops and bathroom vanity tops are expected to drive the growth of the global engineered stone market. The market revenue growth is also influenced by the rise in disposable incomes in different countries, particularly in developing regions, and the shift in consumer preference towards stylish homes.
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Top Profiled Companies:
Cosentino, Caesarstone, Hanwha Surfaces, LG Hausys, Samsung Radianz, Compac, Diresco, EKTIO Group, Santa Margherita USA, and Zodiaq.
Engineered Stone Market Growth
Engineered stone, also known as quartz or composite stone, is a popular alternative to natural stone surfaces like granite and marble. It is manufactured using a combination of crushed stone and resin, which gives it a consistent appearance and enhanced durability compared to natural stone. Engineered stone is commonly used for kitchen countertops, bathroom vanities, flooring, and other applications in both residential and commercial settings.
The engineered stone market has been experiencing significant growth in recent years, primarily due to the following factors:
- Durability and Aesthetics: Engineered stone provides a balance between aesthetics and performance. It offers a wide range of colors and patterns, making it suitable for various design styles. Additionally, its non-porous nature and scratch resistance make it highly durable and low-maintenance.
- Growing Construction and Renovation Activities: The construction and renovation sectors have been witnessing steady growth globally. As more residential and commercial properties are built or renovated, the demand for engineered stone as a surface material has increased.
- Shift from Natural Stone: Engineered stone's advantages over natural stone, such as lower cost, consistent appearance, and better performance, have prompted some consumers and businesses to choose it over traditional natural stone options.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Product Type Outlook (Revenue, USD Million; 2019-2030)
- Quartz
- Marble
- Others
Application Outlook (Revenue, USD Million; 2019-2030)
- Kitchen Countertops
- Bathroom Vanity Tops
- Flooring
- Wall Cladding
- Others
Key Takeaways of the Global Engineered Stone Market Report:
- A comprehensive overview of the global Engineered Stone industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Engineered Stone market.
- Elaborate study of the leading regional markets in the global Engineered Stone market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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