The global kitchen countertop market is anticipated to account for US$ 135.47 Bn by the end of 2025, escalating from US$ 92.93 Bn in 2017
NEW YORK, March 18, 2019 /PRNewswire/ -- The global kitchen countertop market is anticipated to account for US$ 135.47 Bn by the end of 2025, escalating from US$ 92.93 Bn in 2017, at a growth rate of 4.9% during the forecast period from 2018 - 2025.
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The major driving factor influencing the kitchen countertop market to surge over the last five years are the increasing procurement of quartz-based countertop materials for kitchen and rising residential & commercial infrastructure in the developed as well as developing countries across the globe.
The kitchen countertop market on the global scenario has grown considerably over the decades.The manufacturers of kitchen countertop across the globe have witnessed consistently growing demand for the same, especially granite based kitchen countertop, marble kitchen countertop, and stainless steel among others.
The market for the different types of kitchen countertop is still continuing to observe increased demand with regards to the rapid innovations and product enhancements being carried out by the industry players.The kitchen countertop market comprises several tier1, tier2, as well as tier3 companies, which invest significant amounts to deliver the most enhanced and best quality kitchen countertop to their customers.
The governmental initiatives and private organizations push towards the development of residential and commercial infrastructure in the developed countries as well as the developing economies across the globe have influenced the kitchen countertop market over the years, and the same is continually fueling the kitchen countertop market in the current scenario.
The global commercial and residential construction sector is experiencing a significant transformation in terms of investments and consumer preference materials.The economically developed nations worldwide are capitalizing substantially with an aim to improve their commercial and residential infrastructures.
On the other hand, the developing countries are also adopting newer trends and increasing their investments. The consumer preference in the developing countries is also shifting towards advanced materials which is boosting the manufacturers operating in kitchen countertop to increase their production line, thereby catalyzing the kitchen countertop market revenue over the years.
The kitchen countertop market has witnessed various makeovers over the years.This has led several manufacturers to innovated and develop robust and attractive products to meet the demands.
For instance, over the past few years, the kitchen countertop market players were overpressurized with the demand for granite kitchen countertop owing to the low cost of the materials, and availability of different colors.However, the material has several disadvantages such as less eco-friendly, high maintenance and less durable.
These disadvantages of granite have compelled the end users to shift towards advanced and engineered material Quartz.The advanced material overcomes the disadvantages of granite, and thus Quartz is increasingly gaining prominence.
Quartz offers the homeowners and commercial kitchen owners to customize the design as the selection procedure of Quartz material is much easier as compared to granite. Since Quartz is an engineered material, the countertop is much more environmental friendly and thus, consumers worldwide are increasingly purchasing quartz countertop as compared to granite kitchen countertop in the present market scenario.
The most prominent players operating in the market of kitchen countertop across the globe include Quarella, Cosentino S.A., Caeserstone Ltd., Laminam SpA, Pokarna Limited, Vicostone, Cambria Co., Aro Granite Industries Ltd., Asian Granito India Ltd., LG Hausys, Ltd., Neolith, Sapienstone, Florim Stone, Tile & Stone Works, and Strasser Stein among others. Various other companies are operating in the market which contributes substantial revenues in the market year on year. Several tier 1, and tier 3 companies are also functioning in the market and are introducing with new designs and offerings which is facilitating the kitchen countertop market to escalate over the years in terms of revenue.
Reasons to Buy
Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the kitchen countertop market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering in developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to segmentations like type and application.
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