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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Engineered Stone market for 2018-2023.
Engineered stone is a composite material made of crushed stone bound together by an adhesive, (most commonly polymer resin, with some newer versions using cement mix). The two common stones used in producing these products are marble and quartz. The application of these products depends on the original stone used. For engineered marbles the most common application is indoor flooring and walls, while the quartz based product is used primarily for kitchen countertops. Related materials include geopolymers and cast stone. Unlike terrazzo, the material is factory made in either blocks or slabs, cut and polished by fabricators, and assembled at the worksite.
The global Engineered Stone industry has a rather high concentration. The major manufacturers are concentrated in China, Europe, North America, such as DuPont, CXUN, Wanfeng Compound Stone, Vicostone and Zhongxun.
The global consumption of Engineered Stone increases from 226074 K Sq.m in 2013 to 359537 K Sq.m in 2017, at a CAGR of more than 12.30%. In 2017, the global Engineered Stone consumption market is led by China and China is the largest region consumption market, accounting for about 35.37% of global consumption of Engineered Stone.
Engineered Stone downstream is wide and recently Engineered Stone has acquired increasing significance in various fields of Kitchen Countertops, Facades, Flooring, Bathroom and others. Globally, the Engineered Stone market is mainly driven by growing demand for Bathroom. Bathroom accounts for nearly 35.42% of total downstream consumption of Engineered Stone in global.
Engineered Stone can be mainly divided into Artificial Marble and Artificial Quartz which Artificial Marble captures about 88.91% of Engineered Stone market in 2017. According to our research and analysis, manufacturers from China are the major leaders in the international market of Engineered Stone.
Global market is expected to witness significant growth on account of rising applications, so in the next few years, Engineered Stone consumption will show a trend of steady growth. In 2024 the consumption of Engineered Stone is estimated to be 788768 K Sq.m. On product prices, the slow downward trend in recent years will maintain in the future.
Over the next five years, LPI(LP Information) projects that Engineered Stone will register a 8.3% CAGR in terms of revenue, reach US$ 21000 million by 2023, from US$ 13000 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Engineered Stone market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Artificial Marble
- Artificial Quartz
Segmentation by application:
- Kitchen Countertops
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- LG Hausys
- Aristech Acrylics
- Wanfeng Compound Stone
- PengXiang Industry
- New SunShine Stone
- Leigei Stone
- Relang Industrial
- Meyate Group
- Cosentino Group
- Hanwha L&C
- Santa Margherita
- Quartz Master
- Samsung Radianz
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Engineered Stone consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Engineered Stone market by identifying its various subsegments.
- Focuses on the key global Engineered Stone manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Engineered Stone with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Engineered Stone submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.