Global demand for countertops is forecast to increase an average of 4.3% per year to 711 million square meters in 2027, valued at $54.6 billion. Market advances will be supported by rising installations of countertops in both residential and nonresidential applications, as countertops continue to be selected over freestanding or wall-mounted fixtures in kitchens and bathrooms. In addition, demand will be bolstered by an increase in residential remodeling, as countertop replacement remains one of the most popular ways to update kitchens and bathrooms.
However, further gains will be restrained by weak new housing outlooks in the US, China, Japan, South Korea, and Europe. Additionally, a deceleration in global market value through 2027 is expected due to unusually high 2022 price levels, brought on by inflation.
Demand for engineered stone is expected to grow at a strong pace through 2027; it will surpass both laminate and granite to become the second most popular countertop product in the world. Growth will be fueled by:
Porcelain slab will be the fastest growing countertop product – albeit from a small base – in the world, with demand rising at a rate of 27% annually through 2027. This robust growth will be fueled by rising consumer awareness of porcelain slab’s favorable performance properties, such as its:
This Freedonia industry study analyzes the 711 million square meter global countertop market. It presents historical demand data (2012, 2017, and 2022) and forecasts (2027 and 2032) as well as annual data for years 2019-2026. Demand data is shown for countertops by material (solid surface, other cast polymers, natural stone, engineered stone, laminates, porcelain slab/sintered stone, all other countertop materials), by market (new residential, residential remodel, new nonresidential, and nonresidential remodel), and by area of installation (kitchens, bathrooms, and other). The study also evaluates company market share and competitive analysis on industry competitors including Caesarstone, Cosentino, Wilsonart, Formica, Panolam, DuPont, Lotte Chemical, and LX Hausys.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook