Engineered stone market to grow by USD 9.68 billion between 2022 and 2027; APAC to account for 40% of the market growth - Technavio

NEW YORK, May 8, 2023 /PRNewswire/ -- The engineered stone market size is expected to grow by USD 9.68 billion between 2022 and 2027, progressing at a CAGR of 6.1% during the forecast period. APAC will account for 40% of the market growth during the forecast period. The growth of the regional market is driven by the rapid growth in construction activity and increased awareness of innovative flooring and modular kitchens. The growing per capita income and the rising living standards are other key factors driving the growth of the engineered stone market in APAC. For more insights on market size - Request the Sample Report

Engineered Stone Market: Segmentation Analysis

Technavio has segmented the engineered stone market by type (block and slabs and tiles), application (countertops, flooring, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

• The market growth in the block and slabs segment will be significant over the forecast period. The growth of the segment is driven by factors such as the increased investment in the construction of large commercial and residential buildings and increased demand for luxury countertops to enhance the aesthetics of interior structures. The growth in the construction industry will further propel the growth of the segment over the forecast period.

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Key factor driving market growth

The market is driven by the growing residential construction activities. Rapid urbanization and growing population concentration in urban areas have increased the construction of new homes. The rapid growth in urban properties and decreasing household size have led to the adoption of the open kitchen concept, which is supporting the growth of the modular kitchen market. Modular kitchens enable better utilization of space, make the kitchen more organized, improve aesthetic appeal, and make it well-equipped with many features. In addition, the growing number of home renovation and reconstruction projects has further increased the penetration of modular kitchens. All these factors are expected to drive the growth of the market during the forecast period.

Leading trends influencing the market

The increasing interest in interior designing is identified as the key trend in the market. Factors such as rising income levels, evolving lifestyles, increased media penetration, and the adoption of different cultures have increased consumer spending on home interior decoration worldwide. The spending includes designer home furnishings such as home furniture, floor coverings such as engineered stone, and counterparts. In addition, the growth in the working women population and their participation in the decision-making process have further increased the sales of home furnishings, which is positively influencing the market growth.

Major challenge hindering growth

The rising popularity of substitutes will challenge the growth of the market. The increased cost of engineered stone has led several end-users to look for substitutes that are less expensive and require low maintenance. Products such as ceramic tiles, LVT, and wood plastic composite (WPC) are widely available as substitutes for engineered stone. These substitutes can be used to make countertops, fireplaces, and stairs. They can also be used as building blocks for bridges, monuments, and buildings. In addition, the high cost associated with the replacement of engineered stone has also forced end-users to prefer alternatives. Such challenges are reducing the growth potential of the market.

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Competitive Analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, growth in market share, among others, Buy the Report

What are the key data covered in this gas station equipment market report?

• The engineered stone market size is expected to accelerate at a CAGR of 6.1% during the forecast period.
• The engineered stone market is segmented type (block and slabs and tiles), application (countertops, flooring, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
• The market is fragmented due to the presence of many/few established vendors holding significant market share.
• The research report offers information on several market vendors, including A.St.A. WORLD WIDE, Akrilika Co., Aristech Surfaces LLC, Belenco, Breton S.p.A., CaesarStone Ltd., Cosentino SA, Diresco NV, DuPont de Nemours Inc., Global Surfaces Limited, Lotte Chemical Corp., LX Hausys Ltd., MAAS GmbH, Pokarna Ltd., Prism Johnson Ltd., Q.R.B.G. S.r.l., Quartzforms Spa, Santa Margherita Spa, SMARTSTONE AUSTRALIA PTY Ltd., Stone Italiana Spa, VICOSTONE, and Wilsonart LLC.

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Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global engineered stone market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global engineered stone market 2017 - 2021 ($ billion)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Block and slabs - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Block and slabs - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Block and slabs - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Block and slabs - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Block and slabs - Year-over-year growth 2022-2027 (%)

• 6.4 Tiles - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Tiles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Tiles - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Tiles - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Tiles - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ billion)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 43: Chart on Application - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 45: Chart on Comparison by Application
• Exhibit 46: Data Table on Comparison by Application

• 7.3 Countertops - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Countertops - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Countertops - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Countertops - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Countertops - Year-over-year growth 2022-2027 (%)

• 7.4 Flooring - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Flooring - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Flooring - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Flooring - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Flooring - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Application 
• Exhibit 59: Market opportunity by Application ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 65: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Italy - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.11 Denmark - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Denmark - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Denmark - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Denmark - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Denmark - Year-over-year growth 2022-2027 (%)

• 9.12 Vietnam - Market size and forecast 2022-2027 
• Exhibit 101: Chart on Vietnam - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on Vietnam - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on Vietnam - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Vietnam - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 A.St.A. WORLD WIDE
• Exhibit 112: A.St.A. WORLD WIDE - Overview
• Exhibit 113: A.St.A. WORLD WIDE - Product / Service
• Exhibit 114: A.St.A. WORLD WIDE - Key offerings

• 12.4 Aristech Surfaces LLC 
• Exhibit 115: Aristech Surfaces LLC - Overview
• Exhibit 116: Aristech Surfaces LLC - Product / Service
• Exhibit 117: Aristech Surfaces LLC - Key offerings

• 12.5 Breton S.p.A.
• Exhibit 118: Breton S.p.A. - Overview
• Exhibit 119: Breton S.p.A. - Product / Service
• Exhibit 120: Breton S.p.A. - Key offerings

• 12.6 CaesarStone Ltd.
• Exhibit 121: CaesarStone Ltd. - Overview
• Exhibit 122: CaesarStone Ltd. - Product / Service
• Exhibit 123: CaesarStone Ltd. - Key offerings

• 12.7 Cosentino SA
• Exhibit 124: Cosentino SA - Overview
• Exhibit 125: Cosentino SA - Product / Service
• Exhibit 126: Cosentino SA - Key offerings

• 12.8 Diresco NV
• Exhibit 127: Diresco NV - Overview
• Exhibit 128: Diresco NV - Product / Service
• Exhibit 129: Diresco NV - Key offerings

• 12.9 DuPont de Nemours Inc. 
• Exhibit 130: DuPont de Nemours Inc. - Overview
• Exhibit 131: DuPont de Nemours Inc. - Business segments
• Exhibit 132: DuPont de Nemours Inc. - Key news
• Exhibit 133: DuPont de Nemours Inc. - Key offerings
• Exhibit 134: DuPont de Nemours Inc. - Segment focus

• 12.10 Lotte Chemical Corp.
• Exhibit 135: Lotte Chemical Corp. - Overview
• Exhibit 136: Lotte Chemical Corp. - Business segments
• Exhibit 137: Lotte Chemical Corp. - Key offerings
• Exhibit 138: Lotte Chemical Corp. - Segment focus

• 12.11 LX Hausys Ltd.
• Exhibit 139: LX Hausys Ltd. - Overview
• Exhibit 140: LX Hausys Ltd. - Product / Service
• Exhibit 141: LX Hausys Ltd. - Key offerings

• 12.12 Pokarna Ltd.
• Exhibit 142: Pokarna Ltd. - Overview
• Exhibit 143: Pokarna Ltd. - Business segments
• Exhibit 144: Pokarna Ltd. - Key offerings
• Exhibit 145: Pokarna Ltd. - Segment focus

• 12.13 Prism Johnson Ltd.
• Exhibit 146: Prism Johnson Ltd. - Overview
• Exhibit 147: Prism Johnson Ltd. - Business segments
• Exhibit 148: Prism Johnson Ltd. - Key offerings
• Exhibit 149: Prism Johnson Ltd. - Segment focus

• 12.14 Q.R.B.G. S.r.l.
• Exhibit 150: Q.R.B.G. S.r.l. - Overview
• Exhibit 151: Q.R.B.G. S.r.l. - Product / Service
• Exhibit 152: Q.R.B.G. S.r.l. - Key offerings

• 12.15 Quartzforms Spa
• Exhibit 153: Quartzforms Spa - Overview
• Exhibit 154: Quartzforms Spa - Product / Service
• Exhibit 155: Quartzforms Spa - Key offerings

• 12.16 Stone Italiana Spa
• Exhibit 156: Stone Italiana Spa - Overview
• Exhibit 157: Stone Italiana Spa - Product / Service
• Exhibit 158: Stone Italiana Spa - Key offerings

• 12.17 Wilsonart LLC
• Exhibit 159: Wilsonart LLC - Overview
• Exhibit 160: Wilsonart LLC - Product / Service
• Exhibit 161: Wilsonart LLC - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 162: Inclusions checklist
• Exhibit 163: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 164: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 165: Research methodology
• Exhibit 166: Validation techniques employed for market sizing
• Exhibit 167: Information sources

• 13.5 List of abbreviations 
• Exhibit 168: List of abbreviations

About Technavio

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