The global Engineered Stone market size is expected to be worth around US$ 40.53 billion by 2030, according to a new report by Vision Research Reports.
The global Engineered Stone market size was valued at US$ 21.28 billion in 2020 and is anticipated to grow at a CAGR of 6.7% during forecast period 2021 to 2030.
|Market Size||US$ 40.53 billion by 2030|
|Growth Rate||CAGR of 6.7% From 2021 to 2030|
|Largest Market||North America|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Brenton S.p.A.; Johnson Marble & Quartz; Quartzforms; Stone Italiana S.p.A.; Cosentino S.A.; VICOSTONE; Technistone A.S.; LG Hausys; A.St.A. WORLD-WIDE; Pokarna Ltd.; Caesarstone Ltd.; Belenco; SEIEFFE s.r.l.; Quarella Group Ltd.|
Increasing product adoption as an environmentally sustainable and aesthetically pleasing low-cost alternative to natural stones like marble and granite is augmenting the market growth. The market is struggling due to the underperformance of the construction sector as a result of the COVID-19 pandemic. Moreover, factors such as low awareness and high capital costs of products, are inhibiting market growth in emerging economies.
The market is witnessing huge potential on account of continuous R&D activities by the major companies. Engineered stones are anticipated to gain popularity owing to their superior properties coupled with their diversified applications in the residential and commercial sectors, such as kitchen countertops, vanity tops, flooring, and bathroom furnishings.
By Product Analysis
The blocks & slabs segment led the market and accounted for more than 98% share of the global revenue in 2020. The growth can be attributed to its easy-to-install and easy-to-maintain properties.
Engineered blocks and slabs can be built in large sizes, and their non-porous nature allows them to be used in wet areas, such as bathrooms, swimming pools, showers, and bathtubs.
Increasing demand for fancy countertops to enhance aesthetics in the interior structure is anticipated to propel the demand over the forecast period.
The tile product segment is expected to grow at a CAGR of 4.6% over the forecast period due to the high demand on account of ease of installation and long-term durability. However, the availability of less expensive alternatives, such as ceramic tiles, is expected to impede the segment growth over the forecast period.
Engineered stone tiles are made from a variety of aggregates that have been joined together with epoxy and other materials. These are available in a wide range of colors, shapes, and sizes. Moreover, these tiles can be customized according to the application requirements
By Application Analysis
The countertops segment led the market and accounted for more than 78% of the global revenue share in 2020. The growth can be credited to the high product demand owing to its stain-resistant properties.
The flooring application segment is anticipated to grow at a significant CAGR over the forecast period. Due to its water resistance and non-porous structure, engineered stone flooring is becoming more popular in kitchens, bathrooms, and below-grade basements.
By Regional Analysis
Asia Pacific led the market and accounted for more than 34% share of the global revenue in 2020 due to the growing utilization of products in the construction and decoration of residential and non-residential interiors in rapidly growing economies, such as China, India, Japan, Malaysia, and Singapore.
The U.S. market is expected to witness sustainable growth over the forecast period owing to the growing construction sector in the country. Increased demand for energy-efficient construction solutions is also driving the market growth.
Johnson Marble & Quartz
Quarella Group Ltd.
Stone Italiana S.p.A.
Blocks & Slabs
Central & South America
Middle East & Africa
The Engineered Stone market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Engineered Stone market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Engineered Stone market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Engineered Stone market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Engineered Stone market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Engineered Stone capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Engineered Stone by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Engineered Stone market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Engineered Stone market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Engineered Stone market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Engineered Stone industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Engineered Stone market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Engineered Stone market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Engineered Stone market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Engineered Stone market. These factors have benefited the growth of the global market for Engineered Stone. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Engineered Stone. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Engineered Stone are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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