Global Engineered Stone Countertops Market Report 2022: Engineered Stone Continues to Gain Share Over Competitive Countertop Surface Materials - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Engineered Stone Countertops Market 2022" report has been added to ResearchAndMarkets.com's offering.

Demand for engineered stone countertops is expected to rise 9.6% per year to 404 million square feet in 2026, solidifying the material's position as the most popular type of countertop in the country. This strong rate of growth will be supported by:

• consumers preferring more natural looking surfaces
• the increasing availability of the material and selection of colors in line with current design trends from both domestic and foreign suppliers
• increasing usage in high-end lodging and institutional construction due to engineered stone's favorable aesthetics and performance properties
• an abundant supply of low-cost quartz slabs from India and Vietnam

While kitchens represent the largest application for engineered stone countertops, as these rooms tend to have the largest amount of counter space, design trends are also driving increased usage in bathroom vanities as well as in countertops in other areas of the home, such as wet bars. Homeowners are looking to bring a cohesive design aesthetic throughout their homes and elevate all spaces with attractive materials.

Engineered Stone Continues to Gain Share Over Competitive Countertop Surface Materials

In 2021, engineered stone surpassed laminate to become the most used countertop material in the US, driven by a rapid increase in low-cost slab imports over the past decade. As prices declined and color availability expanded, consumers became more willing to purchase higher cost engineered stone countertops. Engineered stone will continue to expand its market share over competitive materials, supported by:

• strong consumer preferences for the aesthetics and quality of engineered stone over laminates
• advantages relative to natural stone such as color uniformity and a smoother, nonporous surface that is resistant to biological contaminants

Low-Cost Imports from India & Vietnam Fill Supply Gap Resulting from Tariffs on China

Once the largest source of quartz slab imports to the US, China now exports less than 1 million square feet of the material to the US per year. After steep tariffs were imposed on quartz slabs from China in 2018, US producers and fabricators sought other sources of low-cost quartz slab to fill the supply gap. Imports from India, Turkey, and Vietnam significantly increased, more than making up for the supply losses from China. While antidumping duties were also imposed on quartz slabs from India and Turkey in 2019, these tariffs were lower than those imposed on China, and import activity from both countries has remained strong.

Key Topics Covered:

1. Executive Summary

2. About This Report

• Report Details
• Study Scope & Product Description
• Impact of COVID-19 Pandemic

3. Overview

• Historical Market Trends
• Supply & Demand
• Pricing Trends
• Competitive Products
• Global Perspective

4. Factors Impacting Countertop Demand

• Building Construction Outlook
• Sustainability Trends
• Green Building Initiatives
• Recycled Content
• Health Concerns
• Product Quality Standards
• Installation Costs

5. Markets

• Demand by Market
• Residential Buildings
• Commercial Buildings
• Vehicles

6. Areas of Installation

• Demand by Area of Installation
• Kitchen Countertops
• Bathroom Countertops
• Other Areas of Installation

7. Key Suppliers & Market Share

• Industry Composition
• Market Share
• Mergers & Acquisitions
• Manufacturing

8. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/m2srn8