This report was recently updated on November 24 2023 with the latest and most recent
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Global Engineered Stone Market Size, Trends & Analysis - Forecasts to 2027 By Product (Tiles, Blocks & Slabs) By Application (Countertops and Flooring), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa), Competitive Landscape, Company Market Share Analysis, and Competitor Analysis
The global engineered stones market is projected to grow at a CAGR value of 5.7% from 2022 to 2027.
Engineered stones are a high-end material that is progressively being employed for architectural purposes such as kitchen counters, flooring and façade tiles, and other building applications. Granules dispersed in a substrate of cement, ceramic, and polymer resins make up 70–95 percent of these substances.
Increasing demands for eco-friendly products, rising demand for an aesthetically pleasing and durable alternative to natural stones, and growing demand for fancy countertops are driving the growth of the engineered stone market.
The use of engineered stone for kitchen counters, window frames, and ceramic tile applications and a growing market for eco-friendly and sustainable construction products for a variety of applications such as residential construction projects are driving the market growth during the forecast period.
Furthermore, the market expansion is fueled by the continuous rise of the global building and construction sector and an increasing acceptance of the need to use and manufacture recyclable engineered stone.
From the 1980s to the early 2000s, Italy was the most dominating country in producing engineered stone products, exceptionally engineered marble. The Chinese economy's expansion has radically altered the market since China currently has the most manufacturers and the overall highest quantity produced. There are estimated to be over 100 engineered stone manufacturers in China alone.
The capacity of engineered stone to be cleaned quickly and easily due to its non-porous nature, as opposed to natural stone, which is porous and allows bacteria to enter cracks and pores, is propelling market expansion. Additionally, even after the sealant wears off, the surface of the engineered stone will be strong enough to resist stains. This material can maintain its appealing look for longer than granite, marble, or sandstone, boosting market growth.
Engineered stone is a particularly appealing investment option because it is often less expensive than natural stone alternatives. In contrast to other benchtop materials like marble and granite, its maintenance-free nature is moving the market forward. Engineered stone also comes in a wide selection of colors and designs that provide a natural look with all the quality and rigidity of real stone. The capacity of engineered stone to withstand shipping and configuration needs is boosting the market growth during the forecast period.
The ongoing COVID-19 pandemic has wreaked havoc on global supply chains, causing major economies worldwide to postpone construction projects. As a result, demand for engineered stone goods in the residential and non-residential sectors has decreased. However, due to the easing of pandemic restrictions and worldwide trade limitations, the situation is likely to improve in 2022, restoring the industry's development trajectory.
However, the market's growth may be hampered by high costs and deterioration of manufactured stone caused by UV exposure. Engineered stone costs more than ordinary stones due to its manufacturing process, including polymeric resin that is not UV stable and might cause discoloration of the rock, limiting the market growth.
The global engineered stone market is segmented into tiles, blocks & slabs based on the product. The tile segment is expected to grow the fastest in the engineered stone market from 2022 to 2027. This growth can be due to their availability in various colors, shapes, and sizes and their ability to change according to the application's needs and customer needs. They are also environmentally beneficial, as they contain 94% crushed waste stone from quarries. They are in high demand because of their ease of installation and long-term durability, contributing to segment growth.
The global engineered stone market is segmented into countertops and flooring based on application. The countertops segment is expected to grow the fastest in the engineered stone market from 2022 to 2027. The great demand for the product can be attributed to its stain-resistant characteristics, less expensive than natural stone slabs, and offer more variety in terms of shape, design, color, and texture. They are also non-porous and highly safe, sturdy, resilient, stain/scratch proof, and resistant to heat, ensuring that the surface remains pristine, propelling segment growth.
As per the geographical analysis, the global engineered stones market can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central & South America (Brazil, Argentina, and Rest of Central and South America).
North America (the United States, Canada, and Mexico) will dominate the global share in the global engineered stone market from 2022 to 2027. The country's expanding construction industry, increasing demand for energy-efficient construction solutions, and the prevalence of key players in the region drive market growth.
Moreover, the Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific) region is expected to be the fastest-growing segment in the global engineered stones market during the forecast period from 2022 and 2027. This is due to the growing use of more products in constructing and decorating housing and non-residential interiors and increased maintenance and remodeling operations.
Furthermore, tighter mining laws in the region and substantial investment in the restoration of old structural components are expected to drive market growth in the Asia Pacific region.
LG Hausys, Johnson Marble & Quartz, Technistone A.S., A.St.A. World-Wide, Caesarstone Ltd., Blanco, Quarella Group Ltd., Quartzforms, Stone Italiana S.p.A., Cosentino S.A., Vicostone, among others are key players in the engineered stones market.
Please note: This is not an exhaustive list of companies profiled in the report.
Chapter 1 Methodology
1.1 Market Scope & Definitions
1.2 Estimates & Forecast Calculation
1.3 Historical Data Overview and Validation
1.4 Data Sources
1.4.1 Secondary
1.4.2 Primary
Chapter 2 Report Outlook
2.1 Engineered Stone Industry Overview, 2022-2027
2.1.1 Industry Overview
2.1.2 Product Overview
2.1.3 Application Overview
2.1.4 Regional Overview
Chapter 3 Engineered Stone Market Trends
3.1 Market Segmentation
3.2 Industry Background, 2022-2027
3.3 Market Key Trends
3.3.1 Positive Trends
3.3.1.1 Gowing market for eco - friendly and sustainable construction products
3.3.2 Industry Challenges
3.3.2.1 The high costs and deterioration of manufactured stone
3.4 Prospective Growth Scenario
3.4.1 Product Growth Scenario
3.4.2 Application Growth Scenario
3.5 COVID-19 Influence over Industry Growth
3.6 Porter’s Analysis
3.7 PESTEL Analysis
3.8 Value Chain & Supply Chain Analysis
3.9 Regulatory Framework
3.9.1 North America
3.9.2 Europe
3.9.3 APAC
3.9.4 LATAM
3.9.5 MEA
3.10 End-User Overview
3.11 Market Share Analysis, 2021
3.11.1 Company Positioning Overview, 2021
Chapter 4 Engineered Stone Market, By Product
4.1 Product Outlook
4.2 Tile
4.2.1 Market Size, By Region, 2022-2027 (USD Billion)
4.3 Blocks & Slabs
4.3.1 Market Size, By Region, 2022-2027 (USD Billion)
Chapter 5 Engineered Stone Market, By Application
5.1 Application Outlook
5.2 Countertops
5.2.1 Market Size, By Region, 2022-2027 (USD Billion)
5.3 Flooring
5.3.1 Market Size, By Region, 2022-2027 (USD Billion)
Chapter 6 Engineered Stone Market, By Region
6.1 Regional outlook
6.2 North America
6.2.1 Market Size, By Country 2022-2027 (USD Billion)
6.2.2 Market Size, By Product, 2022-2027 (USD Billion)
6.2.3 Market Size, By Application, 2022-2027 (USD Billion)
6.2.4 U.S.
6.2.4.1 Market Size, By Product, 2022-2027 (USD Billion)
6.2.4.2 Market Size, By Application, 2022-2027 (USD Billion)
6.2.5 Canada
6.2.5.1 Market Size, By Product, 2022-2027 (USD Billion)
6.2.5.2 Market Size, By Application, 2022-2027 (USD Billion)
6.3 Europe
6.3.1 Market Size, By Country 2022-2027 (USD Billion)
6.3.2 Market Size, By Product, 2022-2027 (USD Billion)
6.3.3 Market Size, By Application, 2022-2027 (USD Billion)
6.3.4 Germany
6.3.4.1 Market Size, By Product, 2022-2027 (USD Billion)
6.3.4.2 Market Size, By Application, 2022-2027 (USD Billion)
6.3.5 UK
6.3.5.1 Market Size, By Product, 2022-2027 (USD Billion)
6.3.5.2 Market Size, By Application, 2022-2027 (USD Billion)
6.3.6 France
6.3.6.1 Market Size, By Product, 2022-2027 (USD Billion)
6.3.6.2 Market Size, By Application, 2022-2027 (USD Billion)
6.3.7 Italy
6.3.7.1 Market Size, By Product, 2022-2027 (USD Billion)
6.3.7.2 Market Size, By Application, 2022-2027 (USD Billion)
6.3.8 Spain
6.3.8.1 Market Size, By Product, 2022-2027 (USD Billion)
6.3.8.2 Market Size, By Application, 2022-2027 (USD Billion)
6.3.9 Russia
6.3.9.1 Market Size, By Product, 2022-2027 (USD Billion)
6.3.9.2 Market Size, By Application, 2022-2027 (USD Billion)
6.4 Asia Pacific
6.4.1 Market Size, By Country 2022-2027 (USD Billion)
6.4.2 Market Size, By Product, 2022-2027 (USD Billion)
6.4.3 Market Size, By Application, 2022-2027 (USD Billion)
6.4.4 China
6.4.4.1 Market Size, By Product, 2022-2027 (USD Billion)
6.4.4.2 Market Size, By Application, 2022-2027 (USD Billion)
6.4.5 India
6.4.5.1 Market Size, By Product, 2022-2027 (USD Billion)
6.4.5.2 Market Size, By Application, 2022-2027 (USD Billion)
6.4.6 Japan
6.4.6.1 Market Size, By Product, 2022-2027 (USD Billion)
6.4.6.2 Market Size, By Application, 2022-2027 (USD Billion)
6.4.7 Australia
6.4.7.1 Market Size, By Product, 2022-2027 (USD Billion)
6.4.7.2 Market size, By Application, 2022-2027 (USD Billion)
6.4.8 South Korea
6.4.8.1 Market Size, By Product, 2022-2027 (USD Billion)
6.4.8.2 Market Size, By Application, 2022-2027 (USD Billion)
6.5 Latin America
6.5.1 Market Size, By Country 2022-2027 (USD Billion)
6.5.2 Market Size, By Product, 2022-2027 (USD Billion)
6.5.3 Market Size, By Application, 2022-2027 (USD Billion)
6.5.4 Brazil
6.5.4.1 Market Size, By Product, 2022-2027 (USD Billion)
6.5.4.2 Market Size, By Application, 2022-2027 (USD Billion)
6.5.5 Mexico
6.5.5.1 Market Size, By Product, 2022-2027 (USD Billion)
6.5.5.2 Market Size, By Application, 2022-2027 (USD Billion)
6.5.6 Argentina
6.5.6.1 Market Size, By Product, 2022-2027 (USD Billion)
6.5.6.2 Market Size, By Application, 2022-2027 (USD Billion)
6.6 MEA
6.6.1 Market Size, By Country 2022-2027 (USD Billion)
6.6.2 Market Size, By Product, 2022-2027 (USD Billion)
6.6.3 Market Size, By Application, 2022-2027 (USD Billion)
6.6.4 Saudi Arabia
6.6.4.1 Market Size, By Product, 2022-2027 (USD Billion)
6.6.4.2 Market Size, By Application, 2022-2027 (USD Billion)
6.6.5 UAE
6.6.5.1 Market Size, By Product, 2022-2027 (USD Billion)
6.6.5.2 Market Size, By Application, 2022-2027 (USD Billion)
6.6.6 South Africa
6.6.6.1 Market Size, By Product, 2022-2027 (USD Billion)
6.6.6.2 Market Size, By Application, 2022-2027 (USD Billion)
Chapter 7 Company Landscape
7.1 Competitive Analysis, 2022
7.2 LG Hausys
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Strategic Positioning
7.2.4 Info Graphic Analysis
7.3 Johnson Marble & Quartz
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Strategic Positioning
7.3.4 Info Graphic Analysis
7.4 Technistone A.S.
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Strategic Positioning
7.4.4 Info Graphic Analysis
7.5 A.St.A. WORLD-WIDE
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Strategic Positioning
7.5.4 Info Graphic Analysis
7.6 Caesarstone Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Strategic Positioning
7.6.4 Info Graphic Analysis
7.7 Belenco
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Strategic Positioning
7.7.4 Info Graphic Analysis
7.8 Quarella Group Ltd.
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Strategic Positioning
7.8.4 Info Graphic Analysis
7.9 Quartzforms
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Strategic Positioning
7.9.4 Info Graphic Analysis
7.10 Other Companies
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Strategic Positioning
7.10.4 Info Graphic Analysis
The Global Engineered Stone Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Engineered Stone Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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