Global Countertops By Material, Market and Type, 2nd Edition
NEW YORK, May 29, 2017 /PRNewswire/ -- The materials distribution in the global countertops market continues to shift toward manufactured materials including solid surface and engineered stone.
Gains in market share of these materials have been driven by rising availability and stronger growth in local countertop markets where they are most popular. Overall demand for countertops is projected to rise 2.3 percent per year in area terms through 2021.
Read the full report: http://www.reportlinker.com/p04895326/Global-Countertops-By-Material-Market-and-Type-Edition.html
Global Countertops answers the following questions and more.
- Which countries can expect the fastest growth in countertop demand going forward?
- Which countries will see the biggest changes in materials distribution in the countertop market?
- To what extent will new housing construction affect demand for countertops in different regions?
Healthy Growth in Developing Markets to Drive Demand Gains
Global demand for countertops is projected to rise 2.3% annually through 2021 to nearly 500 million square meters. Ongoing strong advances in developing markets such as China, India, and Brazil will account for the majority of demand. However, demand growth is expected to decelerate somewhat through the forecast period compared to 2011-2016 as construction activity in the large Asia/Pacific region will slow following a period of robust gains.
Key Findings in the Global Countertops Study:
Engineered Stone and Solid Surface Materials Will Gain Market Share
Engineered stone will continue to see the fastest growth of any material, boosted by rising interest in its style and its favorable performance and durability. Additionally, expanding production capacity has boosted the availability of engineered stone and will help drive volume sales.
The rising price competition that stems from that expanded capacity will further propel volume sales as engineered stone becomes increasingly affordable to a larger market. Solid surface, now the market-leading material in terms of total global countertop sales in volume terms, will also gain market share. This growth is fueled mainly by its intensive use in the fast growing markets of the Asia/Pacific region, where it is a readily-available, basic countertop material.
Kitchens to Remain Largest Market for Countertops
The kitchen market, which accounted for two-thirds of global demand in 2016, will continue to be the best opportunity for countertops, supported by the large residential market. In developing countertop markets, the kitchen is often the first place that homeowners choose to install countertops, as competition from pedestal sinks holds strong in bathrooms. Further demand support will come from developed markets, such as US, Canada, and Australia, due to rising interest in large kitchens and remodeling kitchens on a regular basis.
Nonresidential Building Market to See Faster Growth
The nonresidential building market for countertops, which is much smaller than the residential market, is projected to see faster growth through 2021. Faster expected increases in nonresidential building construction activity, as well as rising penetration from a very low level in many developing countertops markets will support advances.
Study Coverage
This industry study presents historical demand data (2006, 2011, and 2016) and forecasts (2021) by material (solid surface, laminates, natural stone, engineered stone), market (new residential, residential remodeling, new nonresidential, nonresidential remodeling), and type (kitchen, bathroom) for 6 world regions and 18 countries.
This study also evaluates company market share and include competitive analysis on industry competitors at the material supplier level, including Caesarstone, Cosentino, DuPont, Fletcher Building (Formica & Laminex Group), Lotte Chemcial (LOTTE Advanced Materials), Shandong Hefeng Group, Wilsonart International, and Zhongxun New Material.
Read the full report: http://www.reportlinker.com/p04895326/Global-Countertops-By-Material-Market-and-Type-Edition.html
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