The Rising Need for Kitchen and Home Renovations in The Countertops Market

A countertop, or benchtop, is a firm and flat surface designed for use in food preparation areas, kitchens, and workrooms in general. Countertops are usually installed upon cabinets and positioned by considering the ergonomics of the specific task for which it’s designed. They are constructed of various materials and have different attributes in terms of aesthetics and functionality. This blog post explores the different countertops materials and details the recent developments in the countertops market.

Countertop Types: Materials

Below we’ve listed some of the most common countertops types:

Granite: Granite is one of the top choices for kitchen countertops. The popularity of this material can be attributed to its toughness and durability, allowing it to withstand impact and abrasive damage.

Soapstone: Soapstone is another popular material for kitchen countertops. Soapstone avoids stains and comes with a soft texture.

Marble: Marble is renowned for its aesthetic appeal. It comes in various colors and can last for years without any problem.

Quartz: Quartz countertops are usually made of composite stone, a mixture of quartz particles and other minerals.

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Industry Analysis

According to our research, the countertops market share accounted for USD 131.28 billion in 2022 and is predicted to reach USD 244.46 billion at a CAGR of 6.4% during the forecast period.

The market is influenced by several factors, including advances in manufacturing technologies and materials, shifting consumer preferences, and changing economic conditions. Buyers are increasingly looking for countertop materials that are natural-looking and visually appealing. Other significant market drivers are the rising demand for big kitchens and multiple bathrooms. Furthermore, an increase in the number of food outlets and hotel rooms worldwide is also driving market growth.

Which Is the Leading Region?

The Asia Pacific region accounted for the largest market share in 2022 and is expected to continue its dominance throughout the forecast period. The rising countertops market sales in the Asia Pacific region can be attributed to the increasing demand for home renovation projects and the desire for enhanced living standards. Countertop replacement, a popular home improvement activity, is expected to contribute to the market growth significantly. In addition, buyers are showing keen interest in visually appealing surface materials like butcher-block countertops, engineered stone, and porcelain slabs, which is further expected to drive countertops market growth.

Recent Developments

Formica Corporation, a leading provider of designed surfacing solutions, added 11 new designs to their product range in April 2021. Fomica’s new product suite makes it easier for buyers to find the perfect kitchen and bathroom countertops.

In October 2021, the Spanish-based Cosentino Group launched two new colors to expand its range of ultra-compact dekton surfaces. These two new colors are set to expand the group’s product portfolio, allowing consumers to choose from an even wider range of surface options.

Summary

The countertops market is experiencing strong growth worldwide, driven by numerous factors like increased spending on home renovations, a steady rise in the residential construction sector, and the advent of durable and natural-looking countertops. To cater to the diverse preferences, market key players use various materials to create countertops for kitchens, bathrooms, retail, labs, and workrooms.

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