CLEVELAND, Could 24, 2022 /PRNewswire/ — In 2021, engineered stone surpassed laminate to grow to be essentially the most used countertop materials within the US, marking the primary time in a long time that laminate was not the most well-liked countertop materials, finds a brand new Freedonia Group evaluation.
Going ahead, engineered stone will proceed to increase its market share to account for 36% of countertop demand in space phrases, which progress stemming from tendencies of the final decade. The fast improve in low-cost slabs from overseas markets – notably China, India, Turkey, and Vietnam – made engineered stone counter tops extra inexpensive for middle-class householders. As costs for engineered stone decreased as coloration availability expanded, customers turned way more prepared to buy greater value counter tops and grew to strongly favor the aesthetics and high quality of engineered stone over laminates.
US Countertop Demand to Develop 4.4% Yearly By means of 2026
By means of 2026, demand for counter tops within the US is forecast to rise 4.4% per yr to 1.1 billion sq. toes valued at $56.8 billion, boosted by:
- growing residential kitchen and toilet reworking, in addition to client willingness to commerce as much as dearer supplies resembling granite and engineered stone to enhance house values
- tendencies favoring bigger kitchens and a number of loos
- growing curiosity in outside kitchens, islands, and moist bars
- elevated housing building and rising business constructing building
Need to Be taught Extra?
Now accessible from The Freedonia Group, Countertops presents historic information for 2011, 2016, and 2021 and forecasts for 2026 and 2031 in sq. toes and US {dollars} by floor materials, market, and space of set up (i.e., room). Additionally offered are information on set up prices and pricing. Moreover, company evaluation together with market share is included.
The floor supplies damaged out are:
- engineered stone
- laminates
- pure stone
- stable floor and different solid polymers
- tile
- different small quantity supplies, together with porcelain slab/sintered stone; chrome steel; wooden/butcher block; concrete; recycled supplies; and different supplies resembling bamboo, cork, and glass
Countertop merchandise by space of set up embody:
- kitchen counter tops
- lavatory counter tops
- different counter tops, resembling these used to prime retailer show cupboards; house workplace, laundry room, mudroom, and interest/craft room cupboards; moist bars; and storage work benches
The main market segments analyzed are:
- residential buildings, together with single-family housing, multifamily housing, and manufactured housing
- business buildings, that are segmented into workplace and retail buildings; lodging; institutional buildings; industrial buildings; different business buildings, together with airport and bus terminals, civic facilities, publish places of work, prisons, and leisure buildings
- autos, together with leisure autos (RVs), boats, private plane, trains, and different autos, resembling limousines
Markets are additionally damaged out by new and reworking purposes.
In regards to the Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is the premier worldwide industrial analysis firm, offering our shoppers with product analyses, market forecasts, trade tendencies, and market share info. From one-person consulting corporations to international conglomerates, our analysts present firms with unbiased, dependable trade market analysis and evaluation to assist them make vital enterprise choices. With over 100 research printed yearly, we assist over 90% of the commercial Fortune 500 firms. Discover off-the-shelf research at https://www.freedoniagroup.com/ or contact us for customized analysis: +1 440.842.2400.
Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group
