Countertop Materials Market: Introduction
- Countertop is a work surface that is used in kitchens or various other food preparation areas, lavatories or bathrooms, and workrooms. It is often installed upon and supported by cabinets. Countertops can be built of different materials with multiple attributes of durability, functionality, and esthetics. Countertops can also have built-in appliances as well as accessory items.
- Various types of countertop materials include natural stones (granite, gabbro, limestone, soapstone, marble, and slate); silicate mineral (travertine and quartz); wood (hardwood and softwood); metals (stainless steel, copper, zinc, and aluminum); and crafted glass. Manufactured countertop materials include concrete (precast, cast-in-place, and processed slabs); compressed fiber or paper; high-pressure laminates (self-edged high-pressure decorative laminates and post-formed high-pressure decorative laminates); cultured marble; solid-surface acrylic plastic materials; terrazzo; solid-surface polyester acrylic; tile; and cast-in-place materials (post-consumer glass suspended in a resin and natural stone suspended in a resin.
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Key Drivers of Countertop Materials Market
- Rise in demand for advanced countertop materials and increase in adoption of countertops in residential as well as non-residential sectors owing to their durability and ease of maintenance are major factors projected to drive the global countertop materials market during the forecast period
- Increase in awareness about the advantages of enhanced quality countertop materials in residential and non-residential sectors is expected to boost the market. Rise in adoption of countertops in non-residential sectors such as office, lodging, retail, and institutions is also anticipated to augment the demand for countertop materials during the forecast period.
- Countertop materials are primarily employed in construction applications owing to various advantages offered by these materials such as resistance to acid and stain, easy to maintain, durable, and cost effectiveness. Additionally, these materials are utilized to improve tensile strength and waterproofing, and provide corrosion- and water-resistance. These are other factors projected to augment the global countertop materials market.
- Rise in demand for countertop materials in numerous industrial applications due to their superior physical properties is another factor estimated to propel the global countertop materials market
Significant Opportunities in Construction Industry
- Based on material type, the global countertop materials market can be segmented into natural stone, engineered stone, concrete, solid surfaces, and others (plastic laminate, ceramic, wood, etc.). In terms of revenue, the natural stone segment is projected to hold significant share of the market, owing to the rise in demand for natural stone based countertops in residential and non-residential industries.
- Based on end-user, the global countertop materials market can be divided into residential and non-residential. In terms of revenue, the residential segment is projected to account for key share of the market, owing to various properties offered by these materials such as resistance to stain, scratch, heat, acid, as well as impact. Additionally, growth in household construction activities in developing as well as developed countries across the globe is another major factor expected to boost the demand for countertop materials in the residential sector. This, in turn, is likely to drive the segment during the forecast period.
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Asia Pacific to be Key Region of Global Countertop Materials Market
- Based on region, the global countertop materials market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, Asia Pacific is anticipated to account for significant share of the global countertop materials market during the forecast period. Demand for countertop materials is increasing rapidly in residential and non-residential sectors in countries in Asia Pacific. Countertop materials possess several features such as resistance to heat and wear, excellent shelf life, durability, as well as toughness. This is another factor expected to drive the market in Asia Pacific in the near future.
Key Manufacturers Operating in Market
- The global countertop materials market was highly fragmented in 2018. Several major players engage in significant product development activities in order to enhance their product portfolio.
Key manufacturers operating in the global market include:
- Aro Granite Industries Ltd.
- POKARNA LIMITED
- DuPont de Nemours, Inc.
- Masco Corporation
- STRASSER WOODENWORKS
- Steine GmbH
- Wilsonart LLC
- ARISTECH SURFACES LLC
Global Countertop Materials Market: Research Scope
Global Countertop Materials Market, by Material Type
- Natural Stone
- Engineered Stone
- Solid Surfaces
- Others (Plastic Laminate, Ceramic, Wood, etc.)
Global Countertop Materials Market, by End-user
Global Countertop Materials Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.