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Countertops Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Countertops Market is segmented Material (Granite, Solid Surface, Laminate, Marble, Quartz Surfaces, and Other Materials), End User (Residential and Commercial), Type (Kitchen, Bathroom, and Other Types), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa).

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Countertops Market Snapshot

countertops market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: <4.8 %

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Market Overview

The countertops market is expected to register a strong rate during the forecast period. 

  • The growth of the market is driven by factors, such as rising disposable income, the increasing number of food serving outlets, rising preference for spacious kitchens and multiple bathrooms, and an increasing number of hotel rooms worldwide.
  • Furthermore, as there is a steady rise in the residential construction sector worldwide and increased private spending on home enhancements, the market is witnessing strong growth. Countertops are usually installed in new homes and during the renovations of kitchens. In addition, there is an increase in mortgage refinances and lending from the banks and, hence, making more credit available for the refurbishment of existing homes, which is further boosting the demand for countertop products.
  • The market value of the market studied is set to rise in the forecast period due to an increasing preference for higher-priced materials rather than laminates. The ongoing strong advances in developing markets, such as China, India, and Brazil, are further propelling the demand for countertops.

Scope of the Report

This report aims to provide a detailed analysis of the countertops market. It focuses on the market dynamics, emerging trends in the segments and regional markets, and insights on various product and application types. Also, it analyzes the key players and the competitive landscape in the countertops market.

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Key Market Trends

Granite is the Most Popular Choice for Countertops

The countertops market is showing an upward trend all over the world. A positive fact of this evolution is that more and more consumers are preferring granite countertops due to the high level of quality and relatively lower cost. Furthermore, consumers are choosing granite due to its high aesthetic appeal.

The granite material type segment accounted for more than one-fourth of the revenue share of the material type category in 2018. Over the past few years, granite countertops have become a popular choice of consumers especially for residential applications, such as kitchen and bathroom interiors. The granite products are resistant to cracking are scratch-free and heat resistant, which is expected to increase their adoption further in the forecast period. Furthermore, the life span of granite countertops is two to three times higher as compared to laminate and quartz, owing to which the material is attracting a larger consumer base.

Countertops Market

Asia-Pacific Region to be the Fastest Growing Market

The Asia-Pacific region was one of the largest markets for Countertops in 2018. The Asia Pacific region is anticipated to witness further growth in the sale of Countertops in the forecast period primarily in developing economies such as India and China.

In China, which is the fastest-growing market for Countertop products in Asia, the demand for countertop products is expected to witness growth attributed by factors such as rising living standards of consumers and continued projects aimed at modernizing housing and non-residential building units. India is the region’s second-fastest-growing market, and the country is likely to witness an increase in sales of countertop products owing to factors like economic growth, an increase in the rising disposable income of people, expansion of distribution networks and growth in the construction sector.

Countertops Market

Competitive Landscape

The market studied is highly fragmented in nature as a large number of manufacturers are operating in this industry. Some prominent players are Arborite, Cambria, Wilsonart LLC, Caesarstone, Formica, Cosentino SA, and Masco Corporation. The key manufacturers have been adopting mergers and acquisitions and new product development strategies to strengthen their presence and distribution channels and, hence, gain a higher market share.

Countertops Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Insights on Environmental and Regulatory Factors for the Industry

    2. 4.2 Insights on Consumer Buying Preferences for Countertop Products

    3. 4.3 Insights on Applications of Countertops

    4. 4.4 Insights on Technological Innovations in the Industry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Overview

    2. 5.2 Market Drivers

    3. 5.3 Market Restraints

    4. 5.4 Opportunities

    5. 5.5 Industry Value Chain Analysis

    6. 5.6 Porter's Five Force Analysis

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Material

      1. 6.1.1 Granite

      2. 6.1.2 Solid Surface

      3. 6.1.3 Laminate

      4. 6.1.4 Marble

      5. 6.1.5 Quartz Surfaces

      6. 6.1.6 Other Materials

    2. 6.2 By End User

      1. 6.2.1 Residential

      2. 6.2.2 Commercial

    3. 6.3 By Type

      1. 6.3.1 Kitchen

      2. 6.3.2 Bathroom

      3. 6.3.3 Other Types

    4. 6.4 By Geography

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia-Pacific

      4. 6.4.4 Latin America

      5. 6.4.5 Middle-East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Market Competion Overview

    2. 7.2 Company Profiles

      1. 7.2.1 Arborite

      2. 7.2.2 ARISTECH SURFACES LLC

      3. 7.2.3 Arpa Industriale SpA

      4. 7.2.4 Cambria

      5. 7.2.5 Wilsonart LLC

      6. 7.2.6 LOTTE ADVANCED MATERIALS CO. LTD

      7. 7.2.7 Caesarstone

      8. 7.2.8 Formica

      9. 7.2.9 Cosentino SA

      10. 7.2.10 M S International Inc.

      11. 7.2.11 AKP Carat worktops GmbH

      12. 7.2.12 Cheil Industries Inc.

      13. 7.2.13 Daltile

      14. 7.2.14 ROSSKOPF + PARTNER AG

      15. 7.2.15 Masco Corporation

  8. 8. ANALYST VIEW AND FUTURE OF THE MARKET

  9. 9. APPENDIX

  10. 10. ABOUT US

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Frequently Asked Questions

The Countertops Market market is studied from 2016 - 2026.

The Countertops Market is growing at a CAGR of <4.8% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

Arborite, Cambria, ARISTECH SURFACES LLC, Wilsonart LLC, Formica are the major companies operating in Countertops Market.

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