The global engineered stone market exhibited a valuation of USD 20.18 Billion in 2022 and is poised to achieve a substantial milestone, reaching USD 58.25 Billion by 2032. This growth trajectory is underpinned by a robust revenue compound annual growth rate (CAGR) of 12.5% projected for the forecast period. One of the driving forces behind this upward trend is the escalating demand for durable and cost-effective materials suitable for various applications like kitchen countertops, bathroom vanities, flooring, and both interior and exterior uses. Engineered stone, also referred to as quartz or composite stone, stands out as a synthetic material comprising natural quartz combined with a resin binder, offering exceptional flexibility in design, color, texture, and patterns.
Furthermore, the rapid expansion of the construction sector, coupled with an upswing in consumer disposable income, fuels the surging demand for engineered stone, thus bolstering market revenue growth. Notably, engineered stone boasts remarkable resistance against scratches, stains, heat, and impact, rendering it an ideal choice for high-traffic areas. Its non-porous properties contribute to a high level of resistance to bacteria and other harmful microorganisms, leading to its increased adoption in settings such as hospitals, laboratories, and various healthcare facilities.
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Top Profiled Companies:
- Cosentino S.A.
- Hanwha LC
- Polycor Inc.
- Tab Quarzwerke GmbH
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)
Application Outlook (Revenue, USD Million; 2019-2030)
- Kitchen Countertops
- Bathroom Vanities
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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