Press release
Global Kitchen Countertop Market to 2017-2025 | Industry SWOT Analysis by Top Competitors Caeserstone Ltd., Asian Granito India Ltd., Cambria Co., Cosentino S.A., Florim Ceramiche S.p.A., Laminam S.p.A., LG Hausys Ltd, Pokarna Limited, Quarella, Sapiensto
Kitchen Countertop Market is Estimated to Reach US$ 135.47 Bn by 2025
The kitchen countertop available in the global market has grown considerably over the years. The manufacturers of kitchen countertop across the globe have witnessed consistently growing demand for the same, especially granite, marble, and stainless steel based kitchen countertops among others. Growth in the recent five years is primarily driven by two major factors, i.e. increase in commercial and residential constructions, and rising demand for quartz based kitchen countertop.
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Top Competitors:
- Caeserstone Ltd.
- Aro Granite Industries Ltd.
- Asian Granito India Ltd.
- Cambria Co.
- Cosentino S.A.
- Florim Ceramiche S.p.A
- Laminam S.p.A
- LG Hausys, Ltd.
- Thesize Surface (Neolith)
- Pokarna Limtied
The burgeoning population rate in the developed countries as well as the developing regions is boosting the residential infrastructures, thereby, fueling the demand for kitchen countertop in the current market scenario. The growth of commercial infrastructures like hotels is majorly due to increasing tourism across the globe. Moreover, the developing countries in Asia Pacific and Middle East such as China, India, Singapore, Malaysia, UAE, and Saudi Arabia among others are witnessing significant growth in business from several international organizations. This has propelled the growth of construction of hotels, which invest decent revenue shares in kitchen aesthetics. Additionally, several multi-national hotel chains have found these countries to be prime regions for the development of their business, and owing to this, the hotels have constructed their own hotels building, creating a fair market space for kitchen countertops.
The report focuses on an in-depth segmentation of kitchen countertop market based on type and application. Geographical segmentation of the study covers five strategic regions comprising of North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The regional market has been further branched by respective countries. By type segment, granite accounted for maximum share in the kitchen countertop market in 2017 and whereas quartz-based countertop is anticipated to surge at the prime growth rate during the forecast period.
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Asia Pacific is the dominant region worldwide in terms of kitchen countertop consumption. The region is continuing to dominate the market year on year and the same trend is foreseen to help the region to lead the market in the coming years. This is due to significantly large consumption of kitchen countertop in China and Singapore among others for years, and recently the production volume in India and Indonesia has expanded significantly. Apart from the rising population in China, India, and Singapore, these countries have become the business hub in Asia Pacific and attributing to this fact, several international hotel chains are establishing their business units in these countries, thereby propelling the infrastructure sector. Another factor bolstering kitchen countertop market in Asia Pacific region is the availability of raw materials such as granite, marble, and quartz among others in large quantity. The easy availability is one of the prime advantages for the manufacturers operating in kitchen countertop market in the Asia Pacific to increase their production lines year on year. Increasing mining of natural stones coupled with the soaring demand facilitates the manufacturers to meet the demand easily. This factor is a catalyzer for kitchen countertop market in Asia Pacific.
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