Demand for engineered stone countertops grew 28 percent per annum during the 2012–2017 period due to significant sales advances in the residential market, according to a new study from The Freedonia Group, a Cleveland-based industry research firm. During this time, demand for engineered stone surpassed that of granite, which was formerly regarded as the primary material in the luxury residential market. The study notes that engineered stone is forecast to be the fastest growing countertop surface material, reaching 152 million square feet in 2022 on yearly advances of 4.5 percent.
|Intense White is part of a recently unveiled series of white quartz aggregate offerings from Caesarstone, one of the leaders in engineered stone countertops. Intense White is further elevated by a ‘lightly textured’ concrete finish that adds depth and interest.|
Going forward, engineered stone will continue to post healthy gains, driven by:
- Aesthetic properties and superior durability compared to laminates;
- Advantages relative to natural stone such as color uniformity and a smoother, nonporous surface that is resistant to biological contaminants;
- Continued market penetration in both the residential and commercial markets; and,
- Larger engineered stone distribution networks and a presence in big box home supply centers and IKEA further promoting awareness and greater visibility among consumers.
Demand for all types of countertops in the U.S. is forecast to rise just over 2 percent annually through 2022 to 803 million square feet. Residential remodeling activity will rise as homeowners continue to opt for larger kitchens and multiple bathrooms, expanding the space devoted to countertops. Increasing construction activity in the countertop-intensive office, retail, lodging, and institutional markets will also drive growth.
Countertops Market in the U.S., 5th Edition (published February 2018, 186 pages) is available for $5600 from The Freedonia Group, www.freedoniagroup.com.