The Global Countertops Market size is expected to reach $187.6 billion by 2028, rising at a market growth of 6.0% CAGR during the forecast period.
A countertop is a raised surface part of a counter used to set items down or serve food. A collection of chairs or stools frequently surrounds counters to provide sitting. A countertop is a fundamental piece of furniture used in kitchens, labs, retail spaces, restrooms, and offices supported by cabinets. Per their functionality, durability, beauty, and necessities, such as built-in appliances for the appropriate application, countertops are made from various materials. Due to their numerous uses and extensive utilities, countertops will likely generate significant revenue during the anticipated time.
The demand for contemporary worktops installed over cabinets and low-height furniture has increased due to recent technological advancements in the building sector. The construction business utilizes advanced tools, heavy machinery, mobile applications, robotics, drones, and 3D printing to supply cutting-edge and unique functionality items around the globe. Current countertop industry trends include using rust-free concrete, tactile and leather surfaces, recycled wood, eco-friendly composite stone, and non-porous laminates as cabinet-building materials.
Also, shortly, the kitchen cabinetry industry will increase significantly due to the leading companies' use of customer-driven marketing tactics. It is feasible to meet the demand for diverse business segments effectively and efficiently with cutting-edge materials for cabinet construction. So, the demand for designer goods is driven by consumers' desire for hip designs that will make their kitchens, baths, or offices aesthetically current and highly useful.
The world's continually growing restaurant business and urbanization will generate tremendous demand for cutting-edge items. In addition, the market is expanding due to the rising demand in the cabinetry industry for high-quality manufactured stones. It is expected that seamlessly finished quartz will be used to build kitchen countertops worldwide, making it a popular material on the market.
The COVID-19 effect has caused misery and continued for some time in 2020 and 2021. The instant shutdown halted the primary centers for mining, fabrication, and construction, severely impeding worldwide production. The demand has shifted to basic items due to the closure of factories, construction sites, hotels, and other businesses, which has hampered the expansion of the countertops market. Furthermore, countertop production has drastically declined due to labor limitations and a lack of raw materials in several countries. In addition, trade restrictions have impacted the supply chain for countertops.
With its expanding applications in the residential and commercial sectors, such as modular kitchens and beautiful shelves for toiletries in opulent bathrooms, countertops play a significant role. Due to the increased demand for engineered and natural stone in the construction of new buildings, major countertop manufacturers are concentrating on creating a variety of materials. In addition, work platforms are in greater demand due to investments made by construction companies worldwide to renovate existing structures. The regional market would expand as a result of this factor.
The portrayal of consumers' lifestyles through home décor is thought to be successful. Both the developed and emerging regional markets are seeing growth in this. Globalization and increasing urbanization are the main causes of this. The need for these products to improve home interiors is increasing as urbanization spreads throughout regional countries like India. The need for new styles to make their kitchens, bathrooms, or offices aesthetically current with hyper-functionality has increased, which will lead to an expansion in the countertops market.
Granite contains naturally occurring radioactive materials that can release minute amounts of gamma and beta radiation, which can hinder the use of the product. Government agencies all around the world have put in place some norms and restrictions governing the radiation levels in granite in order to assure safety. To decrease the impact of hazardous radiations from the granite integrated into the house, the Environment Protection Agency (EPA) has set the safety threshold for radon gas levels in the household at four epicures. It has a comparable lung cancer risk as smoking half a pack of cigarettes. As a result, the expansion of the countertop market would be constrained throughout the anticipated time period by dangerous radiations from natural granite stone.
Based on materials, the countertops market is segmented into granite, solid surface, engineered quartz, laminate, marble, and others. In 2021, the marble segment procured a promising revenue share in the countertops market. Because marble is frequently found in colors like white, yellow, red, and black, it is frequently utilized in interior décor. It is used to create numerous artifacts, including sculptures. Kitchen countertops, floors, and bathroom tiles are all made of marble. There are numerous types of marble on the market, including black, grey, cream, and red marble. Because of its aesthetic appeal, marble is frequently utilized in interior design.
On the basis of application, the countertops market is fragmented into kitchen, bathroom, and others. The kitchen segment witnessed the largest revenue share in the countertops market in 2021. This application segment's expansion is accelerated by the growing demand for kitchen countertops. Also, the segment growth is anticipated to pick up speed during the projection period due to an increase in the average share of dwelling space devoted to kitchens in new residential constructions.
By end-user, the countertops market is divided into residential and commercial. In 2021, the commercial segment recorded a remarkable revenue share in the countertops market. The demand for products in the commercial segment is accelerating due to the world's increasing number of restaurants, hotels, bars, and cafés. Travellers' rising demand for luxurious bathrooms and kitchens, even in low-cost lodgings, is also placing pressure on luxury and mid-range hotel owners, who are upgrading finishes, furniture, and worktops, adding features, and rethinking the guest experience. Over the projected timeframe, this will fuel the segment's expansion.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 125.5 Billion |
| Market size forecast in 2028 | USD 187.6 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 6% from 2022 to 2028 |
| Number of Pages | 204 |
| Number of Tables | 374 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Material, Application, End-user, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the countertops market, is analysed across North America, Europe, Asia Pacific and LAMEA. In 2021, the Asia Pacific region projected the maximum revenue share in the countertops market. This high percentage can be attributed to rising living standards and ongoing renovation initiatives for both residential and commercial building units. Moreover, the market will be driven by the continuing demand for countertop replacement as a home improvement project. Furthermore, as customers strive to upgrade from laminates and solid surfaces to more aesthetically pleasing and natural-looking surface materials, the demand for the product will be driven by the rising consumer interest in engineered stone, porcelain slab, and butcher-block worktops.
Free Valuable Insights: Global Countertops Market size to reach USD 187.6 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Masco Corporation, Cambria Company LLC, Aristech Surfaces LLC (Trinseo PLC), Wilsonart LLC, Caesarstone Ltd., Formica Group (Broadview Holding), Cosentino Global, S.L.U., MS International, Inc., Dal-Tile Corporation (Mohawk Industries, Inc.), and Rosskopf + Partner AG (Hope Bearer Foundation)
By Application
By End-user
By Material
By Geography
The global Countertops Market size is expected to reach $187.6 billion by 2028.
Increasing spending on renovating and repairing buildings are driving the market in coming years, however, Hazardous radiations produced by granite restraints the growth of the market.
Masco Corporation, Cambria Company LLC, Aristech Surfaces LLC (Trinseo PLC), Wilsonart LLC, Caesarstone Ltd., Formica Group (Broadview Holding), Cosentino Global, S.L.U., MS International, Inc., Dal-Tile Corporation (Mohawk Industries, Inc.), and Rosskopf + Partner AG (Hope Bearer Foundation)
The Residential segment acquired maximum revenue share in the Global Countertops Market by End-user in 2021 thereby, achieving a market value of $131.6 billion by 2028.
The Asia Pacific market dominated the Global Countertops Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $69.6 billion by 2028.
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