The global engineered stone market was valued at $21.1 billion in 2021, and is projected to reach $35.1 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.
Engineered stone commonly known as agglomerated stone, is a composite material. Crushed stone is joined together with cement or another adhesive to produce it. Engineered stones such as polymer concrete, engineered quartz, and engineered marble stone are available in the market. Engineered stone can be used to create raised access floors with any system on the market, either by producing panels through lamination with slabs of varying thicknesses or by using slabs of varying thicknesses. Engineered stones can also be used to make skirting, risers, back splashes, door frames, window sills, steps, and other architectural components.
Engineered stones can also be used to make skirting, risers, back splashes, door frames, window sills, steps, and other architectural components. Engineered Stone can be used to create raised access floors with any system on the market, either by producing panels through lamination with slabs of varying thicknesses or by using slabs of varying thicknesses.
On the basis of accurate designs or with the help of custom-cut forms, kitchen countertops and shelves of any size and shape can be manufactured; they can also be coated against stains using specific solutions. Engineered stones have also been used successfully in the field of furnishing accessories; the material is suitable for various applications, such as tabletops and fireplace coverings.
Using engineered stone in the production of semi-finished goods with special specifications, such as steps for use in self-supporting stairways, which are made from two laminated slabs with fiber glass mesh in between, is of particular importance (these slabs can then be polished on both sides) This process produces structural parts with extraordinarily high bending strength, and these steps may be placed and linked using specific metallic connectors.
The increase in engineered stone adoption as an environmentally sustainable and aesthetically pleasing low-cost alternative to natural stones such as marble and granite, are helping to boost the market. As a result of the COVID-19 epidemic, the construction industry has been failing and is hindering the expansion of engineered stone market. In addition, factors such as low awareness and high capital costs are hampering market growth in some emerging economies. Growth in popularity of residential renovations and the need to redevelop old buildings are expected to continue to create opportunities in the engineered stone market. The demand for engineered stone from commercial sector is increasing and thus increasing the expansion of engineered stone market.
The engineered stone market is segmented on the basis of product, application and region. On the basis of product, the market is categorized into tiles and blocks & slabs. On the basis of application, the market is categorized into countertops, flooring and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global engineered stone market are A.St.A. WORLD-WIDE, Belenco, Caesarstone Ltd., Cosentino S.A., Granite & Marble Specialties, H & R Johnson, LX Hausys, Q.R.B.G.s.r.l., Quartzforms, SantaMargherita, Silestone, Stone Italiana S.P.A., Technistone s.r.o, Topzstone, VICOSTONE. Other players operating in the engineered stone market are RMS, Diresco, Viatera USA.
Engineered stone commonly known as agglomerated stone, is a composite material. Crushed stone is joined together with cement or another adhesive to produce it. Engineered stones such as polymer concrete, engineered quartz, and engineered marble stone are available in the market. Engineered stone can be used to create raised access floors with any system on the market, either by producing panels through lamination with slabs of varying thicknesses or by using slabs of varying thicknesses. Engineered stones can also be used to make skirting, risers, back splashes, door frames, window sills, steps, and other architectural components.
Engineered stones can also be used to make skirting, risers, back splashes, door frames, window sills, steps, and other architectural components. Engineered Stone can be used to create raised access floors with any system on the market, either by producing panels through lamination with slabs of varying thicknesses or by using slabs of varying thicknesses.
On the basis of accurate designs or with the help of custom-cut forms, kitchen countertops and shelves of any size and shape can be manufactured; they can also be coated against stains using specific solutions. Engineered stones have also been used successfully in the field of furnishing accessories; the material is suitable for various applications, such as tabletops and fireplace coverings.
Using engineered stone in the production of semi-finished goods with special specifications, such as steps for use in self-supporting stairways, which are made from two laminated slabs with fiber glass mesh in between, is of particular importance (these slabs can then be polished on both sides) This process produces structural parts with extraordinarily high bending strength, and these steps may be placed and linked using specific metallic connectors.
The increase in engineered stone adoption as an environmentally sustainable and aesthetically pleasing low-cost alternative to natural stones such as marble and granite, are helping to boost the market. As a result of the COVID-19 epidemic, the construction industry has been failing and is hindering the expansion of engineered stone market. In addition, factors such as low awareness and high capital costs are hampering market growth in some emerging economies. Growth in popularity of residential renovations and the need to redevelop old buildings are expected to continue to create opportunities in the engineered stone market. The demand for engineered stone from commercial sector is increasing and thus increasing the expansion of engineered stone market.
The engineered stone market is segmented on the basis of product, application and region. On the basis of product, the market is categorized into tiles and blocks & slabs. On the basis of application, the market is categorized into countertops, flooring and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global engineered stone market are A.St.A. WORLD-WIDE, Belenco, Caesarstone Ltd., Cosentino S.A., Granite & Marble Specialties, H & R Johnson, LX Hausys, Q.R.B.G.s.r.l., Quartzforms, SantaMargherita, Silestone, Stone Italiana S.P.A., Technistone s.r.o, Topzstone, VICOSTONE. Other players operating in the engineered stone market are RMS, Diresco, Viatera USA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the engineered stone market analysis from 2021 to 2031 to identify the prevailing engineered stone market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the engineered stone market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global engineered stone market trends, key players, market segments, application areas, and market growth strategies.
IMPACT OF COVID-19 ON THE GLOBAL ENGINEERED STONE MARKET
- The rapid spread of COVID-19 has negatively affected the engineered stone market expansion.
- The COVID-19 pandemic has caused damage on global supply networks, delaying construction projects in major economies globally.
- The majority of construction and renovation activities stopped between mid-2020 and 2021 as a result of COVID-19's negative effects on the engineered stone market.
- The situation is expected to improve owing to relaxation of pandemic restrictions and global trade limitations, hence restoring the industry's future growth.
Key Market Segments
By Product Type
- Blocks and Slabs
- Tiles
By Application
- Countertops
- Flooring
- Others
By Region
- North America
- Mexico
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- A.St.A. WORLD-WIDE
- Belenco
- Caesarstone Ltd.
- Cosentino S.A.
- Granite & Marble Specialties
- H & R Johnson
- LX Hausys
- Q.R.B.G.s.r.l.
- quartzforms spa
- Santa Margherita Spa
- Silestone
- Stone Italiana S.P.A
- Technistone s.r.o
- Topzstone
- vicostone
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ENGINEERED STONE MARKET, BY PRODUCT TYPE
CHAPTER 5: ENGINEERED STONE MARKET, BY APPLICATION
CHAPTER 6: ENGINEERED STONE MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Engineered Stone Market," was valued at $21.1 billion in 2021, and is estimated to reach $35.1 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.Engineered stone is a composite material made of crushed stones bound together by an adhesive to create a solid surface. Engineered stones include engineered quartz, polymer concrete, and engineered marble stone. Engineered stones look like natural stones but the one difference is that the texture is much more uniform in color and pattern. The method that natural stones are manufactured in the soil gives them a variety of color and patterns. The appearance of each slab is more consistent due to the manufacturing process used to create quartz. . One of the benefits of this is that the items used in the kitchen can fit together perfectly. Manufacturing color options can be broader when using pigment. Another advantage of engineered stone is that it is non-porous, unlike its natural stone counterparts. Quartz is stained resistant because there are no pores or small holes on its surface that allow liquid to seep into it and stain the stone. Unlike granite or marble, which require a sealant to keep them looking their best, porcelain is a low-maintenance option for busy homeowners. It is non-porous, meaning it resists fungal and bacterial growth, making it a great option for commercial applications such as resins.
Applications of engineered stone include:
Tiles for flooring with the advantage of particularly thin tiles (up to 6 mm in size for a 300 x 300 mm tile).
Interior coverings: sizes and thickness as required, within the maximum size limits of the slabs; the surface finish may be polished, honed, sand blasted and others.
Countertops for bathrooms: the dimensions of the slabs, special washbasins can be produced without joints, up to a length of 3 meters, for use in the public facilities.
Floating floors: Engineered Stone is suitable for the realization of raised access floors with all the systems available on the market, either through the production of panels by means of lamination with slabs of reduced thickness, or by using slabs of higher thickness.
Other building components: Engineered Stones are also suitable for the production of skirting, risers, back splashes, door frames, window-sills, steps and other building components.
Owing to these properties, engineered stone finds application in a wide range of industries, including construction, life-style, health sector and commercial sector.
Engineered stones are environmentally friendly because 94% of its composition consists of crushed leftover stone from quarries or natural stone beds. The global engineered stone market is being driven by increase in demand for environment-friendly and sustainable building products for a variety of applications including kitchen worktops, flooring, raised flooring, internal cladding, vanity tops, and bathroom furnishings for residential and commercial construction projects. Engineered stone contains polymeric resins, which are not UV stable, causing the stone to discolor and the resin binder to break down. Over time, engineered stone loses its flexural strength due to the binding agents' continued hardening from exposure to UV radiation. As a result, these stones are unsuitable for outdoor use. This can hamper the growth of engineered stone market. Cement adhesives for engineered stone are in high demand since they are non-allergenic and inert bonding agents. This may create attractive chances for the market's manufactured stone makers.
The engineered stone market is segmented on the basis of product, application and region. On the basis of product, the market is categorized into tiles, blocks, and slabs. On the basis of application, the market is categorized into countertops, flooring and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Major players operating in the global engineered stone market are A.St.A. WORLD-WIDE, Belenco, Caesarstone Ltd., Cosentino S.A., Granite & Marble Specialties, H & R Johnson, LX Hausys, Q.R.B.G.s.r.l., Quartzforms, SantaMargherita,, Silestone, Stone Italiana S.P.A., Technistone s.r.o, Topzstone, VICOSTONE. Other players operating in the engineered stone market are RMS, Diresco, Viatera USA.
Key Findings of the Study
- Depending on product, the Blocks and Slabs segment is expected to grow at a CAGR of 5.3%, in terms of revenue, during the forecast period.
- Depending on application, the countertops segment is expected to grow at a CAGR of 5.2%, in terms of revenue, during the forecast period.
- Region wise, Asia-Pacific garnered a share of 6.2% in 2021 in terms of revenue owing to increased in demand from construction industry.
- Japan hold 18.2% market share and South Korea holad 6.2% market share in Asia-Pacific region.
IMPACT OF COVID-19 ON THE GLOBAL ENGINEERED STONE MARKET
- The rapid spread of COVID-19 has negatively affected the engineered stone market expansion.
- The COVID-19 pandemic has caused damage on global supply networks, delaying construction projects in major economies globally.
- The majority of construction and renovation activities stopped between mid-2020 and 2021 as a result of COVID-19's negative effects on the engineered stone market.
- The situation is expected to improve owing to relaxation of pandemic restrictions and global trade limitations, hence restoring the industry's future growth.
Companies Mentioned
- A.St.A. World-Wide
- Belenco
- Caesarstone Ltd.
- Cosentino S.A.
- Granite & Marble Specialties
- H & R Johnson
- Lx Hausys
- Q.R.B.G.S.R.L.
- Quartzforms Spa
- Santa Margherita Spa
- Silestone
- Stone Italiana S.P.A
- Technistone S.R.O
- Topzstone
- Vicostone
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 198 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 21.1 billion |
| Forecasted Market Value ( USD | $ 35.1 billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
