Global Countertop Demand is forecast to rise 2.3% yearly through 2021: Manufacturing Business of Quartz Slabs. Engineered Stone, Composite Materials, Kitchen Countertops, Artificial Stone

Global Countertop Demand is forecast to rise 2.3% yearly through 2021

Global Countertop Demand is forecast to rise 2.3% yearly through 2021.jpg

Quartz Surfaces a man-made product, comprises majorly of quartz, one of nature’s strongest material and a mix of bonding agent, pigment and additives. Similar in appearance to natural stone, quartz enjoy certain innate benefits not available with natural material namely durability, strength and stain and heat resistant qualities. Further, natural stones are also porous which leaves room for bacteria to get into fissures and pores where it can be tough to eradicate, while on the other hand Engineered stone doesn’t absorb liquids resulting in easier cleaning and more effective than natural stone. Engineered stone is also the fastest growing material to be used in the countertop industry. Rapid growth of the product has been driven by the material’s superior physical attributes relative to other countertop materials, its attractive relative value, as well as broad array of colors and ease of fabrication. The growth is expected to remain strong as it gains further awareness and acceptance in several existing and newer markets – the product is fairly matured and developed in Israel and Australia, it is still at a nascent stage in markets like USA and Canada, two of the largest markets in the world.

Quartz is the most abundant mineral on Earth and one of the hardest, so it is “hardly” surprising that manufacturers saw its great potential for a surface material more than 50 years ago. Since that time, quartz countertops have grown in popularity as homeowners discovered what the earliest quartz pioneers knew – when the natural mineral quartz is improved upon by man’s ingenuity, quartz countertops can compete with other natural stone countertops in every way.

Few Indian Major Players are as under:

  • Associated Marmo & Granites Ltd.
  • Elegant Marbles & Grani Inds. Ltd.
  • Inani Marbles & Inds. Ltd.
  • Madhav Marbles & Granites Ltd.
  • Mahak Marbles Pvt. Ltd.
  • Mira Textiles & Inds. (India) Ltd.
  • N C L Marbles & Granites Ltd.

 

Market Outlook

The global countertops market is expected to grow at a healthy rate during the projected period 2017-2021. The growth in countertops market is expected on account of many growth drivers such as increase in number of food serving outlets, preference for spacious kitchens and multiple bathrooms, upsurge in disposable income and rise in number of hotel rooms worldwide.

The countertop market can be segmented on the basis of material type and end sector. On the basis of material type, the global countertop market can be further segmented into granite, solid surfaces, quartz, laminates and marbles. On the basis of end sector, the market can be divided into residential and commercial.

USA’s engineered stone imports amounted to 66.1 million sq. ft. during 2015, higher by 55.1% over preceding year.

Demand for natural-stone countertops in the US market to grow 7.6% annually until 2017. Engineered stone, to account for 77 million ft² in US countertops market annually by 2017, with an annual growth rate of 7.4%.

Engineered Quartz Countertops market is expected to exhibit higher CAGR. “Rising demand across various residential sectors, burgeoning construction activities in the developing regions, increasing construction of residential housing units coupled with rapid demand from the remodelling activities is anticipated to propel the growth of engineered quartz countertops market in the forecast period”

 

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