NEW YORK, Nov. 9, 2021 /PRNewswire/ -- The engineered stone market size is expected to increase by USD 4.96 billion from 2020 to 2025. Technavio's latest market research report estimates that the engineered stone market will be progressing at a CAGR of over 4% during the forecast period.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. COSENTINO S.A., Diresco NV, LX Hausys, Phenikaa Group, Prism Johnson Ltd., Q.R.B.G. S.r.l., Quartzforms Spa, Rms Stonex, Stone Italiana Spa, and Wilsonart LLC are some of the major market participants. The rising demand for durable alternatives to natural stones and increasing investments in the construction of large commercial buildings will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.
The countertops segment generated maximum revenue in the market in 2020. The market growth in the segment is expected to be significant during the forecast period. In terms of geography, APAC is expected to offer maximum growth opportunities for market players. The region currently holds 41% of the global market share. China is the key market for engineered stones in APAC.
Engineered Stone Market 2021-2025: Vendor Analysis and Scope
Some of the major vendors of the engineered stone market include COSENTINO S.A., Diresco NV, LX Hausys, Phenikaa Group, Prism Johnson Ltd., Q.R.B.G. S.r.l., Quartzforms Spa, Rms Stonex, Stone Italiana Spa, and Wilsonart LLC. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market. Backed with competitive intelligence and benchmarking, our research report on the engineered stone market is designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
The resistance to bacterial growth is likely to emerge as one of the primary drivers of the market. However, factors such as the high cost of engineered stone may threaten the growth of the market.
CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will assist engineered stone market growth during the next five years
Estimation of the engineered stone market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the engineered stone market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of engineered stone market vendors
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Engineered Stone Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of over 4%
Market growth 2021-2025
USD 4.96 billion
YoY growth (%)
APAC, Europe, North America, MEA, and South America
Performing market contribution
APAC at 41%
Key consumer countries
China, US, Italy, Denmark, and Vietnam
Leading companies, competitive strategies, consumer engagement scope
COSENTINO S.A., Diresco NV, LX Hausys, Phenikaa Group, Prism Johnson Ltd., Q.R.B.G. S.r.l., Quartzforms Spa, Rms Stonex, Stone Italiana Spa, and Wilsonart LLC
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
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