Kitchen Countertop Market to grow from US$ 92.93 Bn in 2017 to US$ 135.47 | Lead By Cosentino, Florim Ceramiche, Laminam, LG Hausys, Thesize Surfaces, Pokarna Limited, Quarella, Sapienstone, Tile & Stone Works
Global kitchen countertop market is expected to grow from US$ 92.93 Bn in 2017 to US$ 135.47 Bn by 2025 at a CAGR of 4.9% between 2018 and 2025.
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The major companies operating in the kitchen countertop market includes Caeserstone Ltd., Agro 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 Surfaces (Neolith), Pokarna Limited, Quarella, Sapienstone (Iris Ceramica Group S.p.A.), Strasser Steine GmbH, Tile & Stone Works, and Vicostone among others.
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.
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.
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.
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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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