Global Countertops Market to Reach $244.46 Billion by 2032: Increased Availability of Credit for Refurbishment of Existing Homes Drives Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Countertops Market Share, Size, Trends, Industry Analysis Report, By Material, By End Use, By Application, By Region, Segment Forecast, 2023-2032” report has been added to ResearchAndMarkets.com’s offering.

The global countertops market size is expected to reach USD 244.46 billion by 2032, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

One of the most notable factors is the increasing demand for kitchen countertops, which is being fueled by consumers’ desire to upgrade their living spaces and create more modern and stylish homes. This trend has led to a surge in demand for high-quality countertops, with homeowners seeking out materials such as natural stone, quartz, and other premium options.

In January 2022, Grover Corlew announced that it intends to broaden its multifamily residence portfolio by introducing “Mayla Residences”. PNC Bank has provided the company with USD 78.2 million in funds for the first property, which is set to begin construction in February 2022.

Among the many features included in each residence are quartz countertops, spa-inspired bathrooms, glass cooktops, built-in microwaves, back-lit vanity mirrors, and more.

Similarly, in January 2022, Caesarstone, a renowned manufacturer of quartz surfaces, revealed the introduction of eight new eco-friendly surfaces at the Kitchen & Bath Industry Show (KBIS) held in Orlando on February 2022. One of the new collections called the Pebbles Collection, consisting of five designs, pays tribute to the never-ending change brought about by water and wind over stone.

Furthermore, the growing popularity of renovation and remodeling projects has contributed to the expansion of the countertop market. With more people investing in home improvement and renovation projects, the demand for countertops has continued to rise. The use of advanced technologies and the availability of a wider range of design options have also played a significant role in driving the growth of the countertop market. As a result, the countertop market is expected to continue to experience strong growth in the coming years.

Additionally, as per the Australian Bureau of Statistics, around 35,521 new private sector houses and 56,617 dwelling units were started in September 2021. This trend is expected to continue in other regions worldwide, boosting the need for contemporary kitchen countertops near future.

Countertops Market Report Highlights

• The granite material segment dominated the market owing to its popularity and durability. Granite is highly preferred for its natural appearance, heat and scratch resistance, and easy maintenance.
• The residential segment contributed to the largest share due to increasing demand for kitchen and bathroom renovations in homes, along with the growing trend of open-plan living spaces. As more homeowners prioritize aesthetics and durability in their countertops.
• The kitchen countertop segment has witnessed the highest demand owing to the rise of cooking and baking shows on TV and social media has increased the desire for visually appealing and functional kitchen spaces.
• Asia Pacific dominated the global market and accounted for the largest share in 2022 on account of the rapid growth in the construction industry and rising population and increasing disposable income in the region have fueled the demand.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Research Methodology

4. Global Countertops Market Insights

4.1. Countertops Market – End-use Snapshot

4.2. Countertops Market Dynamics

4.2.1. Drivers and Opportunities

4.2.1.1. Increased availability of credit for refurbishment of existing homes

4.2.1.2. Rising demand for larger kitchens & multiple bathrooms

4.2.2. Restraints and Challenges

4.2.2.1. High costs

4.3. Porter’s Five Forces Analysis

4.4. PESTEL Analysis

4.5. Countertops Market End-use Trends

4.6. Value Chain Analysis

4.7. COVID-19 Impact Analysis

5. Global Countertops Market, by Material

6. Global Countertops Market, by Application

7. Global Countertops Market, by End-use

8. Global Countertops Market, by Geography

9. Competitive Landscape

10. Company Profiles

Companies Mentioned

• Century Plyboards
• Greenply
• Georgia-Pacific Gypsum
• Weyerhaeuser
• Latvijas Finieris
• Austral
• METSA
• Eksons
• Java Tiasa
• Uniply
• UPM
• SVEZA
• United Timber Works
• Virgo
• W T K
• Linyi Junli
• Duroply
• Vishwas Enterprise
• VICOSTONE
• Caesarstone
• Pokarna
• DuPont
• Cosentino
• AKG Group
• Cambria
• Aro Granite
• Asian Granito
• Arborite
• ARISTECH SURFACES
• Wilsonart
• Caesarstone
• Formica
• M S International
• Daltile
• ROSSKOPF
• Masco

For more information about this report visit https://www.researchandmarkets.com/r/sz2q44

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