What Are The Opportunities And Threats Faced By The Engineered Stone Market?
Posted by Nicky Arora on April 19th, 2021
The global engineered stone market size is expected to reach USD 30.6 billion by 2027 registering a CAGR of 5.0%, according to a new report by Grand View Research Inc. Growing product adoption as an environmentally sustainable alternative to the slabs of the natural stone is anticipated to drive the market growth over the forecast period.
The rise in demand for environmentally sustainable and green building materials is expected to have a positive impact on product demand. Product applications in a variety of residential and commercial settings, such as kitchen countertops, vanity tops, flooring, and bathroom furnishings, are driving the global market.
Increasing demand for durable and highly customized floor tiles and countertops and changing consumer trends with regards to interior decoration and design have been critical to the market growth over the last few years. Furthermore, the expansion of offices and workspaces, changing consumer lifestyles, and rapid urbanization are expected to augment the market growth.
Manufacturers are actively working on ramping up their production capacities to satisfy the ever-increasing demand for the engineered stone slabs. Moreover, the manufacturers are focused on providing a wide range of customization options, in terms of color, texture, design pattern, size, and shape, to gain a higher market share.
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Engineered Stone Market Report Highlights
Engineered Stone Market Segmentation
Grand View Research has segmented the global engineered stone market on the basis of system type, application, and region:
Engineered Stone System Type Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2016 - 2027)
Engineered Stone Application Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2016 - 2027)
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About the AuthorNicky Arora
Joined: October 15th, 2019
Articles Posted: 389
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