Countertop Market Size, Share & Industry Analysis, By Material Type (Natural Stone, Engineered Stone, Concrete, Solid Surfaces, Plastic Laminate, Ceramic, Wood), By End-User (Residential, Commercial) and Regional Forecast, 2020-2027

The global countertop market size stood at USD 89.18 billion in 2019 and is projected to reach USD 110.54 billion by 2027, exhibiting a CAGR of 2.8% during the forecast period.

A worktop is a basic utility in kitchens, laboratories, retails, bathrooms, and workrooms supported by the cabinets. Work platforms are constructed using various materials according to their functionality, durability, aesthetics, and needs such as built-in appliances for relative application. Countertops being multi-purpose platforms and owing to their expansive utilities, are expected to produce voluminous revenue in the forecasted period.

Latest technological implementations in the construction industry have given a boost to the demand for modern worktops that can be fitted over cabinets and low-height furniture. Advance tools, mobile applications, heavy equipment, robots, drones, and 3D printing are being deployed in the construction industry to achieve the goal of supplying advanced and innovative functionality products throughout the world. The National Kitchen and Bath Association has invested USD 147 billion for the premier kitchen and bath aesthetic cabinetry platform and other interiors.

Quartz is one of the major engineered stones made from crystalline silica and used for constructing kitchen cabinetry as it is able to lever more pressure with longer durability. The National Institute for Occupational Safety and Health (NIOSH) conducted a study to understand the usage of crystalline silica stone (Quartz stone) and take preventive measures to control its usage as it causes respiratory diseases. An engineered stone such as granite on an average contains 72% crystalline silica by weight, making it the most durable stone for constructing these products.

The current countertop market trends include cabinetry construction materials such as rust-free concrete, tactile and leather surfaces, reclaimed wood, eco-friendly composite stone, and non-porous laminates. Moreover, the customer-driven marketing strategies followed by the major players are becoming the key growth factor for the kitchen cabinetry in the near future. For example, Caesarstone introduced new types of concrete material in its Metropolitan Countertop Collection such as Airy Concrete 4044 and Cloudburst Concrete 4011 that have airy visual textures with softened edges, are best suitable for kitchen, bathroom, and workroom platforms.

With the help of advanced cabinetry construction materials, it is possible to cater to the demand for various business segments effectively and efficiently. Customers’ demand for trendy designs to make their kitchen, bathrooms, or workrooms aesthetically modern with hyper-functionality is thus propelling the overall demand for designer products.

The impact of COVID-19 is creating misery and is expected to sustain for a considerable period in the near future The immediate lockdown brought the major construction, fabrication, and mining hubs to a halt resulting in critical hampering of production across the globe. The UN Department of Economic and Social Affairs (DESA) stated that COVID-19 has unsettled the international trade and global supply chain processes. According to the United Nations (UN) analysis, the global economy will possibly shrink up to 1% in 2020 in accordance with the previously forecasted growth of 2.5%.

LATEST TRENDS

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Emergence of Honed Finished Quartz Countertop to Be a Major Trend

The emergence of advanced materials such as Quartz is driving the market. Quartz is the strongest, durable, and non-porous material, which is primarily used in the cabinetry construction industry. According to the International Interior Design Association, quartz is stated as the most relevant and reliable worktop construction material, thus supporting its adoption for major interior designing work. The demand for quartz products is increasing significantly in residence and commercial application owing to its non-porous nature. Moreover, these are also exhibiting high demand in laboratories owing to their ability to deal with hazardous chemicals. The increasing urbanization, coupled with the steadily developing restaurants industry across the globe will create a huge demand for advanced products. The growing demand for high-quality engineered stones in the cabinetry industry is propelling the market growth. The construction of kitchen countertops using seamlessly finished quartz material is anticipated to emerge across the world thus becoming a trending material in the market.

DRIVING FACTORS

Rising Investments in Refurbishing and Remodeling Building Construction Infrastructure to Drive Growth

Countertop plays an important role in residential and commercial sector with its expanding applications such as modular kitchen and decorative shelves for toiletries in luxury bathrooms. Key countertop manufacturers are focusing on the production of varied type of material due to the rising demand of engineered and natural stone in new building construction. Construction firms across the world are investing in refurbishing the existing building, boosting the demand of work platforms. Moreover, deterioration of buildings is being observed across Asia Pacific, Europe, and North America due to the climatic changes and increasing pollution. Refurbishing and remodeling of the existing buildings lifts the demand of natural stone, engineered stone, concrete, laminates and etc. for constructing kitchen, bathroom, retail and laboratories platforms.

Furthermore, the Global Buildings Performance Network (GBPN) pioneers in reducing the energy used for refurbishing the existing buildings. According to GBPN, a standard refurbishment project saves up to 20%-30% of energy, hence reduces the deterioration rate of the building. In commercial spaces, countertops are utilized across wide range of applications in retail stores, hotels and restaurants and research laboratories. Building material depends on the application as per the need, such as higher durability rate and weight bearing capacity. Therefore, the rising demand for  countertops while renovating and decorating the residential and commercial spaces is driving the overall market growth.

Increasing Demand for Durable Laminate Countertop Material to Boost Growth

International Surface Fabricators Associations (ISFA) is the only association that has published standards for both solid surfaces and quartz fabrication. This association represents fabricators from 13 different countries, adhering to ISFA’s code of ethics and fabrication standards, leveraging the demand for construction materials. Aesthetic cabinetry materials play a vital role in driving this market share.

RESTRAINING FACTORS

Harmful Radiations from the Granite and High Purchasing Cost of Natural Stone to Hamper Growth

Several types of materials are used to make countertops, including granite, marble, quartz, slate, and artificial materials. Granite's durability and decorative aesthetic is making it the most preferred choice among home & building construction contractors. However, the harmful radiations from the granite are hampering the market growth. Granite contains veins of naturally occurring radioactive elements such as thorium and uranium, along with their radioactive decay. Uranium and thorium eventually decay into radon, an odorless, colourless, and radioactive gas that may cause lung cancer. Moreover, the naturally occurring radioactive elements in granite can emit small amount of gamma and beta radiation, hampering the product adoption. In order to ensure safety, the government authorities across the globe have implemented some rules and regulations regarding the granite radiation levels. For instance, the Environment Protection Agency (EPA) has set the safety threshold for radon gas levels in the home at 4 epicures to lessen the effect of harmful radiations from the granite integrated in the house. It poses a similar risk of lung cancer as half a pack of cigarettes. Therefore, harmful radiations from the natural granite stone would hinder the countertop market growth over the forecast timeline. The market players are also focused on expanding the manufacturing opportunities in the future ahead.

SEGMENTATION

By Material Type Analysis

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Engineered Stone Segment is Estimated to Display a Lucrative Growth Rate in the Forecast Period

Based on material type, the market is segmented into natural stone, engineered stone, concrete, solid surfaces, plastic laminate, ceramic, and wood.

Amongst them, the natural stone segment is estimated to procure a major portion of the market share. It is owing to the increased imports of natural stones by the developed and developing countries including China, India, Egypt, and Thailand. Traditionally, natural stones are utilized in residential applications such as kitchen cabinetry. Along with that, these stones are fabricated by all public and non-public manufacturers. Granite is a widely utilized natural stone for products attributed to its heat resistance capability and less affection by regular wear and tear. It has become a first choice for commercial as well as residential applications in virtue of aesthetics, low maintenance, and durability. Moreover, the edges of granite countertop offer creative style and shapes, making it favorable amongst the end-users for customized offerings.

The ceramic segment is expected to exhibit substantial CAGR during the forecast period. It is owing to the quality that ceramic brings in case of installation in hotel restaurants, washroom areas, and kitchen cabinetry. Moreover, improved manufacturing process over the years has increased the demand for ceramic products over its substitutes. The plastic laminate segment is also expected to exhibit steady growth attributed to low cost per square feet for countertop applications. Plastic laminate is a non-porous material with fairly tough and durable properties, making it stain resistant and easy-to-clean. Engineered stone material includes, glass and quartz. Quartz material has superior tensile strength and durability as it is fabricated by mixing approximately 90% ground natural quartz with polymer resin. It is also fabricated through quarried slabs of stone that makes it almost impossible to break. In the current scenario, it is one of the most preferred countertop materials, owing to its low maintenance cost and versatile options including customized fabrication with natural and synthetic materials such as, resins, polymer, and more.

By End-User Analysis

Residential End-User Segment is Anticipated to Exhibit Significant Growth in the Near Future

End-users considered in the market are residential and commercial & industrial.

The residential segment has showcased the highest demand for the products for kitchen and washrooms and this trend is expected to continue over the forthcoming years as the demand for modular kitchens is rising. The kitchen cabinetry manufacturers are mostly focusing on developing robust and aesthetic products to meet the necessities of the customers. Manufacturers tend to focus on granite material for kitchen cabinetry platform owing to its low material cost and availability of colors and textures. Quartz is the other material with longer shelf life feasible for residential kitchen platforms. This, in turn is expected to be the key factor for the market growth.

Commercial spaces cover a wide range of places with the application of countertops and their specific needs. Research laboratories require chemical resistant platforms such as phenolic resin, epoxy resin, stainless steel, chemical resistant laminate, and high-pressure laminate. These types of chemical-resistant resins form strong and durable cabinetry material along-with decorative surfaces.

REGIONAL INSIGHTS

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Asia Pacific is projected to showcase the highest growth and dominate the market amongst all the regions. Emerging economies such as China, India, and Japan would contribute to the largest market share as these countries are expecting urbanization and commercialization at a faster pace. China is the leading country with an increasing demand for residential as well as commercial engineered quartz worktops. This would drive the overall regional cabinetry construction growth. According to the Federation of Indian Granite & Stone Industry (FIGSI), India is in the 4th position in natural stone trade with 15% of natural stone reserve, which is approximately about 46 billion cubic metres. The recent emergence of COVID-19 pandemic has increased the market uncertainty and volatility, thus imposing a complete production shutdown in India and China.

North America is projected to emerge in the manufacturing sector during the forecast period. The prompt adoption of advanced engineered materials by many organizations across the region is expected to drive the platform construction materials growth in North America. The U.S. exhibits the highest growth at 7.4% with an increasing demand for plastic laminates in the near future. Increasing demand for natural stone, engineered stone, and solid surfaces would be driving the worktop market growth in this region. Pandemic COVID-19 has led to the volatility in the stock market across the region and has an adverse impact on stock prices and trading volumes for manufacturers. Moreover, trade volumes are expected to fall steeper in sectors with complex value chains, particularly in the natural stone products.

Furthermore, Europe, the Middle East and Africa, and Latin America are projected to show steady market growth with respect to the demand for work platforms in these regions. Cabinetry manufacturers are establishing their presence in these regions to enhance the market growth. These regions are drastically affected by COVID-19 pandemic and it has brought the regional economies down. This will impact almost all the sectors including construction, mining, and others. Hence, reduction in the capacity of the manufacturers to produce high quantity products would subsequently impact the market.

However, in 2020, all the regions are expected to suffer slow growth rate for considerable period. It is owing to the sudden shutdown of fabricating industries across china, India, Vietnam, the U.S., Italy, and the other countries because of the COVID-19 pandemic impact across the globe.

KEY INDUSTRY PLAYERS

Prominent Players Ensure to Fortify Their Position by Providing Work Surface Solutions to the Customers

DuPont de Nemours Inc. is developing its customer base for its brand named Corian, under which it provides solid surfaces that increases the customers’ customized needs by enhancing the quality of services provided by the company. This is expected to boost the growth of the Corian brand under the solid surfaces business segment.

Masco Corporation is an active manufacturer of kitchen and bath cabinetry products and solutions with 20 product lines and 300 styles and patterns. It provides custom-based cabinetry products to fit the customers’ needs with high-quality and stylish work platforms. It caters to the demand through its dealers and distributors throughout North America and around the world, thereby driving this global market.

List of Key Companies Profiled:

• Vicostone (Hanoi, Vietnam)


• Aro Granite Industries Ltd. (New Delhi, India)


• POKARNA LIMITED (Secunderabad, India)


• Caesarstone. (North Carolina, United States)


• DuPont de Nemours, Inc. (Delaware, United States)


• Masco Corporation (Michigan, United States)


• STRASSER Steine GmbH (St. Martin i.M., Austria)


• Wilsonart LLC. (Texas, United States)


• ARISTECH SURFACES LLC (Kentucky, United States)


• Cambria (Le Sueur, Minnesota)


• Cosentino S.A. (Almería, Spain)

KEY INDUSTRY DEVELOPMENTS:

• March 2019: Masco Corporation announced its strategic plan to trail divestitures of its Cabinetry and Windows business by the sale of Masco Cabinetry, U.K. Window Group, and Milgard Windows business segments.

• May 2019: Caesarstone Ltd. introduced PRIMORDIA, a new product under its Metropolitan Range in Manhattan at the Wanted Design Show, crafted beautifully with authentic designs for industrial art and architecture.

REPORT COVERAGE

An Infographic Representation of Countertop Market

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 A growing trend is observed in the penetration of the countertop market position across the industries. 

This market research report provides various key insights such as adoption trend analysis, recent industry developments including mergers & acquisitions, ecosystem analysis, macro, and microeconomic factors, consolidated SWOT analysis, key industry trends, competitive landscape and company profiles.

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