Engineered Stone Market Size Is Anticipated To Reach $30.6 Billion By 2027

The global engineered stone market size is expected to reach USD 30.6 billion by 2027 registering a CAGR of 5.0%, according to a new report by Grand View Research Inc. Growing product adoption as an environmentally sustainable alternative to the slabs of the natural stone is anticipated to drive the market growth over the forecast period.

The rise in demand for environmentally sustainable and green building materials is expected to have a positive impact on product demand. Product applications in a variety of residential and commercial settings, such as kitchen countertops, vanity tops, flooring, and bathroom furnishings, are driving the global market.

Increasing demand for durable and highly customized floor tiles and countertops and changing consumer trends with regards to interior decoration and design have been critical to the market growth over the last few years. Furthermore, the expansion of offices and workspaces, changing consumer lifestyles, and rapid urbanization are expected to augment the market growth.

Manufacturers are actively working on ramping up their production capacities to satisfy the ever-increasing demand for the engineered stone slabs. Moreover, the manufacturers are focused on providing a wide range of customization options, in terms of color, texture, design pattern, size, and shape, to gain a higher market share.

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Engineered Stone Market Report Highlights

• In China, the blocks & slabs segment is expected to grow at a significant CAGR over the forecast period on account of rising adoption of engineered stones in the kitchen countertops and bathroom furnishing applications
• In 2019, the revenue for flooring application segment in the North America region stood at USD 603.7 million owing to high product usage in the construction of various residential and institutional buildings including offices, libraries, and auditoriums
• In Saudi Arabia, the engineered stone market is anticipated to reach USD 1,013.7 million on account of growing demand for aesthetically pleasing and environmentally sustainable building decorative products
• In Europe, the tiles segment is expected to grow at a CAGR of 3.1% over the forecast owing to growing investments in the redevelopment and reconstruction of old residential and heritage buildings in the region
• Manufacturers are continually engaged in expanding their product portfolio accompanied by installation services and training programs for installation workers and after-sales support to the clients

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Engineered Stone Market Segmentation

Grand View Research has segmented the global engineered stone market on the basis of system type, application, and region:

Engineered Stone System Type Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2016 - 2027)

• Tiles
• Blocks & Slabs

Engineered Stone Application Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2016 - 2027)

• Countertops
• Flooring
• Others

Engineered Stone Regional Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2016 - 2027)

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Germany
• The U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Central & South America
• Brazil
• Middle East & Africa
• Saudi Arabia

List of Key Players of Engineered Stone Market

• LG Hausys
• Johnson Marble & Quartz
• Quartzforms
• Stone Italiana S.p.A.
• Cosentino S.A.
• Vicostone
• Technistone a.s.

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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