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Engineered Stone Market To Hit USD 39.2 Billion By 2032, Growing At A CAGR Of 5.9% SNS Insider
(MENAFN- EIN Presswire)
The Engineered Stone Market was valued at USD 23.3 billion in 2023 and is expected to reach USD 39.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.9% over the forecast period from 2024 to 2032.
Get a Sample Report of Engineered Stone Market@
Key Players Listed in Engineered Stone Market Are:
.Caesarstone Ltd.(Caesarstone Quartz)
.Cosentino S.A.(Silestone)
.Dupont(Corian Quartz)
.LG Hausys Ltd.(HI-MACS)
.Compac(Compac Quartz)
.Hanwha L&C(HanStone Quartz)
.Vicostone(Vicostone Quartz)
.Cambria(Cambria Quartz)
.Technistone(Technistone Quartz)
.Quartzforms(Quartzforms)
.Stone Italiana S.p.A.(Stone Italiana Quartz)
.Samsung Radianz(Radianz Quartz)
.Pental Surfaces(PentalQuartz)
.Diresco(Diresco Quartz)
.Santa Margherita(Santa Margherita Quartz)
.MSI Surfaces(Q Quartz)
.Belenco Quartz Surfaces(Belenco Quartz)
.Quarella(Quarella Quartz)
.Levantina(Levantina Quartz)
.Lotte Chemical Corporation(Staron Quartz)
Engineered Stone Market Drivers
The Engineered Stone Market seems to be expanding credit to essential variables. One of the megatrends stimulating the demand for the material is the growth in high-durability demand for applications including but not limited to countertops, flooring, and decorative surfaces. Due to its scratch, stain, and heat resistance, engineered stone remains a preferred choice in kitchens and bathrooms. Furthermore, the increasing trend of green and sustainable construction materials is uplifting the market since raw materials used for engineered stone products can be manufactured using recycled content, which minimizes their ecological footprint archetype.
In addition, with the advent of urbanization in the world, especially in the developing market, demand for known development ventures, for example, residential and commercial projects, has risen. These innovations are anticipated to provide an additional impetus to the demand for engineered stone products, especially in regional segments like North America, Asia-Pacific, and Europe. Furthermore, several innovative engineered stone manufacturing processes improve the aesthetics and performance of engineered stone, which is anticipated to continue driving growth in the market throughout the forecast period
Do you have any specific queries or need customization research on Engineered Stone Market, Enquire Now@
Engineered Stone Market Growth
The Engineered Stone Market is expanding, driven by both technological advancements and changing consumer preferences. In recent years, manufacturers have focused on improving the strength, appearance, and sustainability of engineered stone products, leading to innovations such as eco-friendly resin binders and more advanced designs mimicking natural stone. As a result, engineered stone is increasingly being used in high-end residential and commercial applications, providing further momentum to market growth.
In addition to technological innovations, the growing popularity of engineered stone in the interior design sector, particularly in countertops, is contributing to the market's growth. The ability to customize engineered stone products in terms of color, texture, and design has made it a favored choice for architects and interior designers. The growing awareness about the environmental benefits of engineered stone products also positions this market for long-term growth, as more consumers seek sustainable alternatives to traditional stone materials.
Engineered Stone Market Segment Analysis
By Product:
Block & Slabs: The block and slabs segment held the largest market share around 95% in 2023. This segment is primarily used in countertops and large-scale flooring applications due to its ability to be cut into custom shapes and sizes for a wide range of designs. The reason for this is the ease of installation and maintenance. They are virtually non-porous, so they are not as prone to staining from most food (including oil, most wine, and other beverages not used with coatings; making them convenient for kitchens compared to natural stones.
By Application:
Countertops: Countertops hold the largest market share around 65% in 2023. This application segment is expected to continue dominating the market due to the increasing use of engineered stone in kitchens and bathrooms. the material's durability, aesthetic appeal, and ease of maintenance make it the preferred choice for these spaces.
Flooring: The flooring segment is growing rapidly, driven by the durability and aesthetic qualities of engineered stone. It is used extensively in both residential and commercial flooring, where consumers are seeking high-performance materials that combine beauty with longevity.
Others: Other applications, including wall cladding and furniture surfaces, are witnessing steady growth as engineered stone continues to gain popularity in the broader interior design market.
Key Market Segmentation:
By Product
.Tiles
.Block & Slabs
By Application
.Countertops
.Flooring
.Others
Buy Now Enterprise-User PDF of Engineered Stone Market Report@
Regional Analysis:
Asia-Pacific: The Asia-Pacific region held the largest market share around 38% in 2023. With rapidly expanding urbanization and infrastructure development, particularly in countries such as China, India, and Southeast Asian nations, the demand for engineered stone is surging. The region's booming construction sector, both residential and commercial, is a key factor driving growth. Additionally, the growing middle class in countries like China and India is shifting towards more premium home and office décor, boosting the adoption of engineered stone products. The region is also seeing increasing investments in manufacturing, with key players expanding their production capacities to meet the growing demand. Notable companies, such as Guangdong Nanhai Jiaxing Stone Co., Ltd. and Cosentino Group, have strengthened their presence in the region, supporting its expansion.
North America: North America is the fastest-growing region in the Engineered stone market, driven by high demand from both residential and commercial sectors. The U.S. market, in particular, is characterized by a strong preference for premium materials in home and office construction, where engineered stone is gaining significant traction. Key players in the region, such as Caesarstone and Cambria, are leading innovation in the product offerings, expanding their presence in both the countertop and flooring markets. The region's steady demand for high-durability materials, along with an increasing inclination towards sustainable building materials, positions it as a leader in the global engineered stone market.
Recent Developments:
.In September 2023, Cosentino Group launched a new line of eco-friendly engineered stone surfaces, incorporating recycled materials to reduce environmental impact. The company emphasized its commitment to sustainability with this new product, which is expected to cater to the growing demand for green construction materials.
.In July 2024, Caesarstone introduced a new range of premium engineered stone surfaces for high-end kitchens, featuring a mix of bold patterns and colors. This launch aims to cater to the luxury home market, where engineered stone is increasingly preferred for its beauty and durability.
.In March 2024, LG Hausys expanded its production capacity for engineered stone surfaces in the U.S. to meet rising demand from both residential and commercial projects. The move is aimed at strengthening its position in North America and capitalizing on the growing trend of engineered stone in interior design.
Table of Content
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Engineered Stone Market Segmentation, By Product
8. Engineered Stone Market Segmentation, By Application
9. Regional Analysis
10. Company Profile
11. Use Cases and Best Practices
12. Conclusion
Need More Insights on Engineered Stone Market, Request an Analyst Call@
About Us:
SNS Insider stands out as a distinguished market research and insights firm, boasting numerous accolades and a sterling reputation for excellence in service and strategy. Serving as your strategic ally, we specialize in reshaping challenges and uncovering solutions to even the most complex business dilemmas. Harnessing the power of expertise and interpersonal connections, we drive profound consumer insights and elevate client experiences. When you engage our services, you embark on a journey with seasoned and adept professionals. We prioritize collaboration with our clients, recognizing the paramount importance of tailoring each project to their unique requirements. After all, nobody comprehends your customers or community better than you do. Hence, our team adeptly crafts the right inquiries that resonate with your audience, ensuring the collection of unparalleled information.
Contact Us:
Akash Anand – Head of Business Development & Strategy
...
Phone: +1-415-230-0044 (US)
Engineered Stone market 2024
"Engineered stone Market offers a compelling solution for architects, builders, and homeowners who seek a combination of durability and aesthetics."
The Engineered Stone Market is growing due to increased demand for durable, low-maintenance, and aesthetic surfaces in residential and commercial spaces.” - SNS InsiderAUSTIN, TX, UNITED STATES, November 18, 2024 /EINPresswire / --The Engineered Stone Market was valued at USD 23.3 billion in 2023 and is expected to reach USD 39.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.9% over the forecast period from 2024 to 2032.
Get a Sample Report of Engineered Stone Market@
Key Players Listed in Engineered Stone Market Are:
.Caesarstone Ltd.(Caesarstone Quartz)
.Cosentino S.A.(Silestone)
.Dupont(Corian Quartz)
.LG Hausys Ltd.(HI-MACS)
.Compac(Compac Quartz)
.Hanwha L&C(HanStone Quartz)
.Vicostone(Vicostone Quartz)
.Cambria(Cambria Quartz)
.Technistone(Technistone Quartz)
.Quartzforms(Quartzforms)
.Stone Italiana S.p.A.(Stone Italiana Quartz)
.Samsung Radianz(Radianz Quartz)
.Pental Surfaces(PentalQuartz)
.Diresco(Diresco Quartz)
.Santa Margherita(Santa Margherita Quartz)
.MSI Surfaces(Q Quartz)
.Belenco Quartz Surfaces(Belenco Quartz)
.Quarella(Quarella Quartz)
.Levantina(Levantina Quartz)
.Lotte Chemical Corporation(Staron Quartz)
Engineered Stone Market Drivers
The Engineered Stone Market seems to be expanding credit to essential variables. One of the megatrends stimulating the demand for the material is the growth in high-durability demand for applications including but not limited to countertops, flooring, and decorative surfaces. Due to its scratch, stain, and heat resistance, engineered stone remains a preferred choice in kitchens and bathrooms. Furthermore, the increasing trend of green and sustainable construction materials is uplifting the market since raw materials used for engineered stone products can be manufactured using recycled content, which minimizes their ecological footprint archetype.
In addition, with the advent of urbanization in the world, especially in the developing market, demand for known development ventures, for example, residential and commercial projects, has risen. These innovations are anticipated to provide an additional impetus to the demand for engineered stone products, especially in regional segments like North America, Asia-Pacific, and Europe. Furthermore, several innovative engineered stone manufacturing processes improve the aesthetics and performance of engineered stone, which is anticipated to continue driving growth in the market throughout the forecast period
Do you have any specific queries or need customization research on Engineered Stone Market, Enquire Now@
Engineered Stone Market Growth
The Engineered Stone Market is expanding, driven by both technological advancements and changing consumer preferences. In recent years, manufacturers have focused on improving the strength, appearance, and sustainability of engineered stone products, leading to innovations such as eco-friendly resin binders and more advanced designs mimicking natural stone. As a result, engineered stone is increasingly being used in high-end residential and commercial applications, providing further momentum to market growth.
In addition to technological innovations, the growing popularity of engineered stone in the interior design sector, particularly in countertops, is contributing to the market's growth. The ability to customize engineered stone products in terms of color, texture, and design has made it a favored choice for architects and interior designers. The growing awareness about the environmental benefits of engineered stone products also positions this market for long-term growth, as more consumers seek sustainable alternatives to traditional stone materials.
Engineered Stone Market Segment Analysis
By Product:
Block & Slabs: The block and slabs segment held the largest market share around 95% in 2023. This segment is primarily used in countertops and large-scale flooring applications due to its ability to be cut into custom shapes and sizes for a wide range of designs. The reason for this is the ease of installation and maintenance. They are virtually non-porous, so they are not as prone to staining from most food (including oil, most wine, and other beverages not used with coatings; making them convenient for kitchens compared to natural stones.
By Application:
Countertops: Countertops hold the largest market share around 65% in 2023. This application segment is expected to continue dominating the market due to the increasing use of engineered stone in kitchens and bathrooms. the material's durability, aesthetic appeal, and ease of maintenance make it the preferred choice for these spaces.
Flooring: The flooring segment is growing rapidly, driven by the durability and aesthetic qualities of engineered stone. It is used extensively in both residential and commercial flooring, where consumers are seeking high-performance materials that combine beauty with longevity.
Others: Other applications, including wall cladding and furniture surfaces, are witnessing steady growth as engineered stone continues to gain popularity in the broader interior design market.
Key Market Segmentation:
By Product
.Tiles
.Block & Slabs
By Application
.Countertops
.Flooring
.Others
Buy Now Enterprise-User PDF of Engineered Stone Market Report@
Regional Analysis:
Asia-Pacific: The Asia-Pacific region held the largest market share around 38% in 2023. With rapidly expanding urbanization and infrastructure development, particularly in countries such as China, India, and Southeast Asian nations, the demand for engineered stone is surging. The region's booming construction sector, both residential and commercial, is a key factor driving growth. Additionally, the growing middle class in countries like China and India is shifting towards more premium home and office décor, boosting the adoption of engineered stone products. The region is also seeing increasing investments in manufacturing, with key players expanding their production capacities to meet the growing demand. Notable companies, such as Guangdong Nanhai Jiaxing Stone Co., Ltd. and Cosentino Group, have strengthened their presence in the region, supporting its expansion.
North America: North America is the fastest-growing region in the Engineered stone market, driven by high demand from both residential and commercial sectors. The U.S. market, in particular, is characterized by a strong preference for premium materials in home and office construction, where engineered stone is gaining significant traction. Key players in the region, such as Caesarstone and Cambria, are leading innovation in the product offerings, expanding their presence in both the countertop and flooring markets. The region's steady demand for high-durability materials, along with an increasing inclination towards sustainable building materials, positions it as a leader in the global engineered stone market.
Recent Developments:
.In September 2023, Cosentino Group launched a new line of eco-friendly engineered stone surfaces, incorporating recycled materials to reduce environmental impact. The company emphasized its commitment to sustainability with this new product, which is expected to cater to the growing demand for green construction materials.
.In July 2024, Caesarstone introduced a new range of premium engineered stone surfaces for high-end kitchens, featuring a mix of bold patterns and colors. This launch aims to cater to the luxury home market, where engineered stone is increasingly preferred for its beauty and durability.
.In March 2024, LG Hausys expanded its production capacity for engineered stone surfaces in the U.S. to meet rising demand from both residential and commercial projects. The move is aimed at strengthening its position in North America and capitalizing on the growing trend of engineered stone in interior design.
Table of Content
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Engineered Stone Market Segmentation, By Product
8. Engineered Stone Market Segmentation, By Application
9. Regional Analysis
10. Company Profile
11. Use Cases and Best Practices
12. Conclusion
Need More Insights on Engineered Stone Market, Request an Analyst Call@
About Us:
SNS Insider stands out as a distinguished market research and insights firm, boasting numerous accolades and a sterling reputation for excellence in service and strategy. Serving as your strategic ally, we specialize in reshaping challenges and uncovering solutions to even the most complex business dilemmas. Harnessing the power of expertise and interpersonal connections, we drive profound consumer insights and elevate client experiences. When you engage our services, you embark on a journey with seasoned and adept professionals. We prioritize collaboration with our clients, recognizing the paramount importance of tailoring each project to their unique requirements. After all, nobody comprehends your customers or community better than you do. Hence, our team adeptly crafts the right inquiries that resonate with your audience, ensuring the collection of unparalleled information.
Contact Us:
Akash Anand – Head of Business Development & Strategy
...
Phone: +1-415-230-0044 (US)
Akash Anand
SNS Insider Pvt. Ltd
+1 415-230-0044
...
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Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
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