North America region is projected for the highest market share during forecast period. Asia Pacific region is forecasted to be the fasted growing segment in Engineered Stone Market
| Source: Adroit Market Research
Dallas, Texas, Sept. 23, 2022 (GLOBE NEWSWIRE) — Market experts and latest studies have anticipated that the global engineered stone market $ 34.2 Billion and grow at an annualized rate of 5.1% by 2030
The global COVID-19 crisis has greatly increased industry demand for Engineered Stone. Building material undergo decay due to chemical, physical and biological combination. This has increased the need of innovative multifunctional building materials and engineered stone is the perfect alternative as it changes fabrication of synthetic materials. This is driving the global engineered stone market.
Owing to benefits such as high resistance, robust, resistant to growth of bacteria, and contribute to maintaining a hygienic environment, the engineered stone is experiencing rapid adoption. Also, engineered stone increases the aesthetic appeal, can be cleaned easily, resistant to stains, last for lifetime, and increase the aesthetic appeal of the place. Also the engineered stone is perfect for various applications such as flooring, backsplashes, walls, fireplaces, and other spaces. This is increasing the demand for engineered stone furthering the development of global engineered stone market.
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Global Engineered Stone Market Scope:
|Market Size in 2030||USD 34.2 Billion|
|Segment Covered||by Product, Application, By Region,|
|by Product Covered||Tiles, Blocks & Slabs|
|Application Covered||Countertops and Flooring|
|Regions Covered||North America, Europe, Asia Pacific, Middle East, and Africa and South America|
|Key Players Profiled||fragmented. Zhongxun, OVERLAND, UVIISTONE, Sinostone, Bitto(Dongguan), Polystone, Meyate, Gelandi, Qianyun, Blue Sea Quartz, Baoliya, and others|
The increasing global competition, modernisation, innovation in logistics, rising concern of reducing environmental impact, and growing need for competitors to respond to current and emerging market trends to sustain its competitiveness and growth is driving the global engineered stone market.
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However, engineered stone discolor with time or when exposed to chemical products which make it vulnerable in the market for existence due to other potential alternatives available in the market. Also, the engineered stone make it risky for elderly people to walk. These are few factors that act as a restraint to the global engineered stone market.
Furthermore, growing construction industry, rapid expansion in the building industry, attractiveness and durability increasing the use of engineered stone the boosting demand for manufactured stone driving the global engineered stone market.
Regionally, the APAC is the largest shareholder of global engineered stone market due to rising engineering activities, growth in consumption of marble in various sectors such as residential commercial, and growing use of engineered stone in industries such as pharma, rubber, cleaning, cosmetics, animal nutrition, plastics and polymers, and coatings in the region. Also, key players in the region are pivoting their focus on mergers and acquisitions to gain significant market dominance. As for future, growth of APAC companies play an active role in the global engineered stone market. Experts anticipate that, 2022 should be a bright year for mergers and acquisitions and collaborations for the market players in the region.
Also, Europe is the highest contributor to the growth of engineered stone demand in the region and overall market revenue. The growing urgency of developing evidence-based products for sustainable development of natural stone mining industry is the key factors rising the share of Europe in engineered stone market.
The global engineered stone market is classified into Quantum Quartz, Smartstone, Essastone, Silestone, and Caesarstone which are the most popular categories of engineered stone available in the market. Among these, the Quantum Quartz stone segment witnessed highest demand in the world for use such as food service counters, floors and walls, kitchen walls, furniture, stairs, wall cladding, flooring, vanity tops, and other applications in residential and commercial sectors such as restaurants, hotels, museums, and other places. This type of stone has been greatly used for increasing the aesthetic look of the space, can be easily cleaned, and is highly resistant to stains.
Important Points from Table of Contents:
2. Research Methodology
3. Market Outlook
4. Engineered Stone Market by Product type overview,2022-2029(USD Billion)
• New Construction
5. Engineered Stone Market by End User overview, 2022-2029 (USD Billion)
• Kitchen Countertops
6. Engineered Stone Market by region 2022-2029 (USD Billion)
o North America
Rest of Europe
o Asia Pacific
Rest of Asia Pacific
o South America
Rest of South America
o Middle East & Africa
7. Competitive Landscape
10. Company Profiles.
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