Published Date: 28-Feb-2023
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According to a new report, published by KBV research, 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.
The Bathroom segment is showcasing a CAGR of 6.5% during (2022 - 2028). The residential bathroom is expanding faster due to customers' desire to upgrade to more expensive materials like engineered stone and granite to raise the quality of their homes. Also, throughout the projection period, there will be an increase in hotel building and remodeling, including the bathrooms.
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 preference for more bathrooms and bigger kitchens in single-family homes throughout developed countries is fuelling the segment's expansion. Also, as home prices rise, homeowners are investing more in home remodelling, fuelling the segment's expansion.
The Engineered Quartz segment has shown the growth rate of 6.3% during (2022 - 2028). The segment is anticipated to rise because of consumers' growing preference for quartz for their kitchen and bathroom cabinets. The market for engineered quartz is accelerating due to the rising demand for environmentally friendly countertop materials.
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. The Europe market is exhibiting a CAGR of 5.8% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 5.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/countertops-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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)
Unique Offerings from KBV Research
North America Countertops Market Future Scope & Opportunities 2022-2028
Europe Countertops Market Size & Growth Forecast 2022-2028
Asia Pacific Countertops Market Size, Share & Industry Outlook to 2028
LAMEA Countertops Market Growth, Trends & Forecasts 2022-2028