The engineered stone market on a global scale reached a size of USD 22.65 Billion in 2021 and is anticipated to maintain a consistent Compound Annual Growth Rate (CAGR) of 6.2% from 2022 to 2030. In order to balance the high cost of natural stone with its aesthetic appeal, the construction industry has created synthetic alternatives that can be produced in various colors and do not require transportation like their genuine counterparts. By incorporating engineered stone into construction projects, companies in the construction sector can achieve the same visual appeal as natural stone while simultaneously reducing costs. Engineered stone possesses unique advantages such as durability, flexibility, and consistency, making it a practical choice for new construction and renovation endeavors. Furthermore, the surge in residential construction projects globally and the growing popularity of engineered stone kitchen countertops and bathroom vanity tops are expected to drive the growth of the global engineered stone market. The market revenue growth is also influenced by the rise in disposable incomes in different countries, particularly in developing regions, and the shift in consumer preference towards stylish homes.
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Top Profiled Companies in the Global Engineered Stone Market Report:
Cosentino, Caesarstone, Hanwha Surfaces, LG Hausys, Samsung Radianz, Compac, Diresco, EKTIO Group, Santa Margherita USA, and Zodiaq.
The global consumer goods market revenue growth is primarily attributed to factors such as the rapid increase in global population, an increasing demand for food and other essential consumer goods such as healthcare nutrition, personal care hygiene, and electronic products, and the changing lifestyles and preferences of consumers, the growing demand for packaged and processed products in food and beverage, and the growing working population. Manufacturing and packaging techniques have advanced technologically, as well as the adoption of cutting-edge technologies such as artificial intelligence, the Internet of Things (IoT), big data analytics, robotics, and automation in the consumer goods industry. Other key factors driving global consumer goods market revenues include increasing awareness of the negative environmental effects of plastic packaging, as well as a growing demand for environmentally friendly and sustainable packaging solutions. Consumer income levels are expected to rise in developing economies such as India thanks to government regulations and guidelines regarding product quality and safety.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Product Type Outlook (Revenue, USD Million; 2019-2030)
- Quartz
- Marble
- Others
Application Outlook (Revenue, USD Million; 2019-2030)
- Kitchen Countertops
- Bathroom Vanity Tops
- Flooring
- Wall Cladding
- Others
Key Takeaways of the Global Engineered Stone Market Report:
- A comprehensive overview of the global Engineered Stone industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Engineered Stone market.
- Elaborate study of the leading regional markets in the global Engineered Stone market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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