Research Nester assesses the growth and market size of the global engineered stone market which is anticipated to be on account of the rising requirement for visually enchanting countertops

New York –February 11, 2024- Research Nester’s recent market research analysis on “Engineered Stone Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global engineered stone market in terms of market segmentation by type, application, product, end-use and by region.

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Rising Prevalence of Aesthetic Ambience in Homes and Commercial Building and Rising Disposable Income to Promote Global Market Share of Engineered Stone Market

The global engineered stone market is estimated to grow majorly on account of the increased requirement for visually enchanting countertops. These engineered stones find a myriad range of applications in residential places, flooring & wall cladding, kitchen countertops, and others. These stones can enhance the look of the place and people are inclined towards including their space with stones. For instance, in the United States, almost 55.1% of people made a remarkable change to their home décor in the year 2020. On the back of a rising number of people opting for such stones, the global engineered stone market is projected to garner remarkable growth during the forecasted period. The versatile characteristics of these stones such as beauty and timeless appeal are projected to attract huge growth opportunities. Furthermore, the rising urbanization driving an escalation in the purchase of residential properties in the current times. It has been estimated that almost 4.1 billion people live in urban areas. The rising urbanization has enhanced substantial growth in real state segments and offers lucrative opportunities in the global engineered stone market. Furthermore, the rising number of green buildings in the world is also rising. It has been estimated that there are almost 120,100 green-rated buildings globally. These buildings are equipped with engineered stones, that is fostering the global engineered stone market growth during the forecasted period.

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Some of the major growth factors and challenges that are associated with the growth of the global engineered stone market are:

Growth Drivers:

Surge in Urbanization and Rising Disposable Income of People
Rising Inclination Towards Green Construction Materials
Challenges:

Shortages of heat resistance capacity of engineered stone, environmental health concerns, and exorbitant prices of the product are some of the major factors anticipated to hamper the global market size of the global engineered stone market.

By application, the global engineered stone market is segmented into flooring, countertops, wall cladding, and cut-to-size items. Out of these, the countertops segment will hold a share of almost 79.1% by the end of year 2036. The rising growth can be attributed to the stain-repellent properties of the product.

By region, Europe engineered stone market is to generate the highest revenue by the end of 2036. The Europe-engineered stone market is anticipated to reach a CAGR of 9.1% by the year 2030. The presence of prominent market players in the region is the primary growth-propelling factor in the region.

This report also provides the existing competitive scenario of some of the key players of the global engineered stone market which includes company profiling of LX Hausys, Johnson Marble & Quartz, Technistone A.S., Caesarstone Ltd, Belenco, Quarella Group Ltd., Quartzforms, Stone Italiana S.p.A., Cosentino S.A., VICOSTONE, Shimizugumi Sekizai Industry Co., Ltd., Yoshida Stone Industry Co., Ltd., Tosoh Quartz Corporation, Taketo Shoten Co., Ltd.

Access our detailed report at: https://www.researchnester.com/reports/engineered-stone-market/5725