Global Engineered Stone Market By Product Type (Blocks & Slabs and Tiles), By Application (Flooring and Countertops), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Global Engineered Stone Market By Product Type (Blocks & Slabs and Tiles), By Application (Flooring and Countertops), By Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Engineered Stone Market Overview:

• The global engineered stone market estimates size was valued at USD 23,300.14 million in 2021.
• It is projected to grow at a CAGR of 5.5% between 2023 to 2032.

Engineered stone is known as an agglomerate stone. In dramatic crystal display, engineered stone can be available in various colors. Engineered marble is mostly gets used in indoor flooring and walls, while the quartz-based product gets used in kitchen countertops as an alternative to granite. Engineered stone is harder than natural stones and it is more flexible and non-porous.

The engineered stone market is expected to grow due to increased demand for durable, aesthetically pleasing substitutes to natural stones and the growing use of green construction materials. Global supply chains have been severely affected by the ongoing COVID-19 pandemic.

Major economies around the world delayed construction projects due to the impact of the epidemic. This has resulted in a decrease in product demand for engineered stone products, both residential and non-residential. The market’s growth trajectory will be restored if the global trade restrictions and lockdown are removed.

Global Engineered Stone Market Scope:

Product type analysis

Blocks & slabs accounted for 97.2% of global revenue in 2021. It’s easy to install and maintains properties that are responsible for the market’s growth. It is much less susceptible to staining than natural stone. This makes it ideal for kitchen applications. Engineered slabs and blocks can be made in large quantities and are non-porous, so they can be used in wet areas like bathrooms, swimming pools, bathtubs, and showers. The forecast shows that there will be an increase in demand for decorative countertops to improve interior design.

Engineered stone tiles are made of a variety of aggregates, which have been combined with epoxy and other materials. They are available in many colors, shapes, sizes, and materials. These tiles can also be customized to meet specific application requirements. These tiles are environmentally friendly as 94% of their materials is the recycled waste stone from quarries.

Due to their ease of installation and durability, the tile segment growth is expected to expand at 4.9% CAGR over the forecast period. The availability of cheaper alternatives such as ceramic tile is expected to slow down the segment’s growth during the forecast period.

Application analysis

The market leader in countertops was more than 77% and contributed to the overall global revenue share for 2021. This is due to the stain-resistant qualities of engineered stone slabs, which have a high demand. Engineered stone slabs are also less expensive than natural alternatives and provide more options in terms of design, color, texture, and shape. Engineered stones contain polymeric resins which are not UV-stable. This can cause discoloration and breakdown of the resin binder. The UV light causes binding agents to harden and a decrease in flexural strength. These stones are therefore not suitable for outdoor use.

Over the forecast period, flooring applications are expected to expand at a substantial CAGR. Engineered stone flooring is increasingly popular in bathrooms, kitchens, and basements due to its non-porous and water-resistant properties. It is also used in areas with high foot traffic because of its superior wear resistance.

Other segments include exterior & wall coverings and furnishing items like tables and chairs. Its superior aesthetics, durability, water and stain resistance, and high aesthetics make it an ideal product for the furnishing accessories market.

Due to its cost-effectiveness and its properties, it gets used in place of granite in making bathroom floors and kitchen countertops.

Кеу Маrkеt Ѕеgmеntѕ

By Product Type

• Blocks & Slabs
• Tiles

By Application

• Flooring
• Countertops
• Other Applications

Market Dynamics:

Blocks & slabs will be the most popular product segment in 2021. The forecast period will see a rise in demand due to growing investments in large commercial and residential buildings, as well as a rising need for fancy countertops that can improve the aesthetics of the interior structure. Quartz, also known by its other name, is made from quartz crystals and marble, which are then set in a resin binder like epoxy.

Breton SpA is an Italian company that is a leader in the manufacture of engineered stone products. Engineered stone adoption is driven by the development of attractive and aesthetic infrastructure. Because of its elegant appearance, engineered stone has been a popular choice in household applications such as flooring, countertops, and kitchen counters.

It is also much more durable than other natural stone products and has a lower price. The demand for the engineered stone industry is growing rapidly in both residential and commercial construction activities. Because of its non-porousness, durability, and other properties, it is ideal for commercial buildings, as well as food service facilities.

Regional Analysis

The Asia Pacific dominated the market, accounting for 35.1% of global revenue in 2021. This was due to the increasing use of products in the construction sector and the decoration of residential interiors in fast-growing economies such as China and India, Japan, and Malaysia. Due to increasing mining regulations and high investments in the redevelopment of older buildings, Europe’s market is expected to grow at 5.1% CAGR over the forecast period. The market will also benefit from the presence of well-established manufacturing firms such as Cranemere Group.

Due to the rapid growth in the construction industry in the United States, the market will experience sustainable growth during the forecast period. The market is also experiencing increased demand for energy-efficient solutions. The market is also being driven by the rebound in the construction industry following COVID-19.

The Middle East & Africa region will grow at a significant CAGR over the forecast period. The region’s primary growth is fueled by large investments by governments and increased FDI. However, engineered stones are often used as a decorative material in many African countries. This can limit the regional market growth.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Globally, there are many small- and medium-sized manufacturers. Market leaders are involved in various marketing strategies. These include providing post-installation, customization, and installation services. They also expand their product portfolio. Breton S.p.A. is a manufacturer that has set up a wide range of networks of authorized workshops in various countries such as Brazil, China, India, and China. Companies’ market share is influenced by brand recognition and customized services.

The major key companies in the engineered stone market trends are LG Hausys, Johnson Marble & Quartz, Technistone A.S., Caesarstone Ltd., Prism Johnson Ltd., Belenco, Falat Sang Asia Co., Quarella Group Limited, and others.

Маrkеt Кеу Рlауеrѕ:

• LG Hausys
• Technistone A.S.
• Johnson Marble & Quartz
• Caesarstone Ltd.
• Quarella Group Ltd.
• A.St.A. WORLDWIDE
• Stone Italiana S.p.A.
• Belenco, Quarella Group Ltd
• Prism Johnson Ltd.
• Quartzforms
• Falat Sang Asia Co.
• Wilsonart LLC
• Viatera USA
• Other Key Players