Stratview Research has published a new report on the Engineered Stone Market, segmented by Product Type (Tiles and Blocks & Slabs), by Application Type (Countertops, Flooring, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World). This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global artificial intelligence as a service market.
Engineered stone market is likely to witness a healthy CAGR of 4.8% during the forecast period. The ability of engineered stones to provide an enhanced appearance along with high durability and easy maintenance is likely to drive the market during the forecast period.
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This report studies the Engineered Stone Market and has segmented the market in a few ways, keeping in mind the concentration of all the stakeholders across the value chain. Following are the ways in which the market has been segmented in the report:
Based on the product type, the market is segmented as tiles and blocks & slabs. The blocks & slabs segment held the larger share of the market in 2020 and is expected to remain dominant during the forecast period. Blocks and slabs are highly preferred in kitchen applications in both residential and commercial buildings. They have been gaining traction in the market due to their benefits such as lesser susceptibility to stains caused by food items and being more aesthetically appealing than natural stones.
Based on the application type, the engineered stone market is segmented as countertops, flooring, and others. The countertops segment leads the market with more than 70% share owing to the surge in population and increasing spending power of people, leading to the construction of new houses in the urban and sub-urban areas globally.
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest growing market for engineered stones during the forecast period, with China, Japan, India, and Australia being the major countries with promising growth opportunities. The growth of the region can be attributed to the increasing per-capita income of countries, extensive growth of construction industries, and the presence of a large number of engineered stone manufacturers in countries present in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Following are the key players in the Engineered Stone Market:
- A.St.A. WORLD-WIDE
- Brenton S.p.A.
- Cosentino S.A.
- Johnson Marble & Quartz
- LG Hausys
- Stone Italiana S.p.A.
- Technistone A.S.
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