5 Key Takeaways From The Countertops Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Countertops Global Market Report 2023, the countertops market is expected to show significant growth in the forecast period.
The global countertops market is experiencing significant growth, fueled by a surge in residential constructions and a wave of innovative products. Let’s explore the key factors driving this expansion and the transformative trends shaping the industry.
- Residential Construction Boom: A Driving Force
- Defining Residential Construction: The process of enlarging, remodeling, or building new residences sets the stage for the use of countertops. These versatile surfaces find applications in various kitchen and bathroom functions, from food preparation to storage.
- Statistics Insight: According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, privately owned housing completions and authorized housing units saw notable increases in 2022, indicating a rising trend in residential constructions.
Example: Privately owned housing completions increased by 3.5% from 1,376,000 in 2021 to 1,424,000 in 2022.
- Major Players Shaping the Market
- Key Market Players: Leading the charge in the countertops market are companies like Strasser Steine GmbH, Wilsonart LLC, and Cosentino S.A.
- Diverse Offerings: From Aro Granite Industries Ltd. to Weyerhaeuser Company, these players offer a range of countertop solutions to cater to various preferences and needs.
- Product Innovation: A Flourishing Trend
- Innovative Countertops: A notable trend in the market is the focus on product innovation, with companies developing countertops that offer modern applications and unique properties.
- ACTIVE SURFACES by SapienStone: In February 2021, SapienStone launched ACTIVE SURFACES countertops. These countertops are not only antibacterial and antiviral but also anti-pollution, anti-odor, and self-cleaning. The use of photocatalytic titanium dioxide enhanced with silver turns these countertops into an eco-active material, continuously combating germs, viruses, pollution, odors, and more.
Benefits: The antibacterial and antiviral qualities of ACTIVE SURFACES make them especially crucial for maintaining sanitation in kitchens, promoting human health.
- Market Segmentation: Understanding Diversity
- Type Segmentation: The countertops market is segmented into Natural Stone, Engineered Stone, Concrete, Solid Surfaces, Plastic Laminate, and Wood.
- Application Segmentation: Countertops find applications not only in kitchens but also in bathrooms and other diverse settings.
- End-User Segmentation: Residential, Commercial, and Industrial sectors contribute to the market’s diversity, reflecting the widespread use of countertops across various environments.
- Regional Dynamics: North America Leading, Asia-Pacific Rising
- North America’s Dominance: In 2022, North America claimed the largest share in the global countertops market, showcasing its established position.
- Asia-Pacific’s Growth:* The forecast indicates that Asia-Pacific is set to be the fastest-growing region. This growth is driven by increasing construction activities and rising demand for modern countertops in the region.
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The Countertops Global Market Report 2023 provides an in-depth analysis on the countertops market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the countertops market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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