Engineered Stone Continues to Advance: Study

CLEVELAND – Engineered-stone sales will keep on growing, although price tags may limit its full market potential, according to a new study.

Solid Surface & Other Cast Polymers to 2016, from Cleveland-based Freedonia Group Inc., estimates an 8.2% annual growth rate in U.S. sales of engineered stone in the next four years, with demand reaching 73 million ft² in 2016.

Click chart to enlargeThe study notes that engineered stone continued to gain market share during the economic downturn, buoyed by sales to high-end customers less-impacted by the weak economy. Growth will continue to be above average, but the study offers that increases in demand will decelerate, tempered by the material’s high price and competition from other options, including granite.

Overall U.S. demand for cast polymers will increase 6.3% annually to 251 million ft² in 2016, according to the study.

Demand for gel-coated composites will rebound strongly through 2016 from the significant losses (due to a drop in new construction) during the previous five years.  Gel-coated composites will benefit from the recovery in new housing construction, as well as design trends featuring a greater number of and more elaborate bathrooms in homes (since the material is primarily installed in bathrooms).

Countertop applications will account for more than 85 percent of cast polymer demand in 2016.  The new housing segment will provide the most rapid gains, although the residential remodeling segment will continue to account for the majority of cast polymer countertop demand as homeowners are more willing to invest in higher value cast polymer materials at that stage.  

Solid Surface & Other Cast Polymers is available for $5,100.

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