Engineered Stone Trends and Forecast
The future of the global engineered stone market looks promising with opportunities in the countertop and flooring markets. The global engineered stone market is expected to reach an estimated $31.3 billion by 2030 with a CAGR of 5.6% from 2024 to 2030. The major drivers for this market are increasing demand for durable and low-maintenance countertop materials, growing preference for sustainable and eco-friendly construction materials, and technological advancements enhancing the aesthetics and performance of engineered stone surfaces.
• Lucintel forecasts that tile is expected to witness the higher growth over the forecast period.
• Within this market, countertop is expected to witness the higher growth.
• APAC is expected to witness highest growth over the forecast period.
United States - Companies are investing in R&D to develop sustainable engineered stone materials for countertops. Government targets focus on promoting green building practices, offering tax incentives for companies producing eco-friendly construction materials to reduce environmental impact and meet sustainability goals.
China - Chinese engineered stone manufacturers are expanding production capacities to meet domestic and international demand. Government targets aim to support construction industry growth, providing subsidies and infrastructure support for companies investing in advanced manufacturing technologies to enhance competitiveness.
Italy - Recent developments involve Italian engineered stone companies collaborating with designers to develop innovative surface finishes and textures. Government targets focus on promoting Italian craftsmanship and design excellence, providing funding and support for companies to enhance product aesthetics and expand global market share.
India - Indian companies are partnering with government initiatives to promote the use of engineered stone in affordable housing projects. Government targets aim to improve housing quality and affordability, providing subsidies and incentives for companies producing cost-effective and durable construction materials for mass housing developments.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Engineered Stone by Segment
The study includes a forecast for the global engineered stone by product, application, and region.
Engineered Stone Market by Product [Shipment Analysis by Value from 2018 to 2030]:
• Tiles
• Blocks & Slabs
Engineered Stone Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Countertops
• Flooring
• Others
Engineered Stone Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Engineered Stone Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies engineered stone companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the engineered stone companies profiled in this report include-
• LX Hausys
• Johnson Marble & Quartz
• Technistone A.S.
• Caesarstone
• Belenco
• Quarella
• Quartzforms
• Stone Italiana
• Cosentino
• VICOSTONE
Recent Development in the Engineered Stone Market
QuartzCo Innovations: Introducing a new line of engineered stone countertops with enhanced scratch and stain resistance, catering to the demand for durable and low-maintenance surfaces in residential and commercial settings.
MarbleCraft Solutions: Collaborating with interior designers to develop customized engineered stone products with unique patterns and colors, offering homeowners and businesses tailored design solutions for their spaces.
GraniteWorks Inc.: Investing in research to develop engineered stone materials with improved sustainability credentials, incorporating recycled content and eco-friendly manufacturing processes to meet the growing demand for environmentally responsible construction materials.
StoneArt Creations: Launching a digital platform for online customization of engineered stone countertops, providing customers with a user-friendly interface to design and order personalized stone surfaces for their homes or businesses.
Features of the Global Engineered Stone Market
Market Size Estimates: Engineered stone market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Engineered stone market size by product, application, and region in terms of value ($B).
Regional Analysis: Engineered stone market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different products, applications, and regions for the engineered stone market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the engineered stone market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the engineered stone market size?
Answer: The global engineered stone market is expected to reach an estimated $31.3 billion by 2030.
Q2. What is the growth forecast for engineered stone market?
Answer: The global engineered stone market is expected to grow with a CAGR of 5.6% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the engineered stone market?
Answer: The major drivers for this market are increasing demand for durable and low-maintenance countertop materials, growing preference for sustainable and eco-friendly construction materials, and technological advancements enhancing the aesthetics and performance of engineered stone surfaces.
Q4. What are the major segments for engineered stone market?
Answer: The future of the global engineered stone market looks promising with opportunities in the countertop and flooring markets.
Q5. Who are the key engineered stone market companies?
Answer: Some of the key engineered stone companies are as follows:
• LX Hausys
• Johnson Marble & Quartz
• Technistone A.S.
• Caesarstone
• Belenco
• Quarella
• Quartzforms
• Stone Italiana
• Cosentino
• VICOSTONE
Q6. Which engineered stone market segment will be the largest in future?
Answer: Lucintel forecasts that tile is expected to witness the higher growth over the forecast period.
Q7. In engineered stone market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the engineered stone market by product (tiles and blocks & slabs), application (countertops, flooring, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Engineered Stone Market, Engineered Stone Market Size, Engineered Stone Market Growth, Engineered Stone Market Analysis, Engineered Stone Market Report, Engineered Stone Market Share, Engineered Stone Market Trends, Engineered Stone Market Forecast, Engineered Stone Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.