Worldwide Countertop Demand Growth: 2.6%

CLEVELAND – Demand for countertops worldwide will grow by 2.6% annually in the next four years, according to the new Global Countertops study from the Freedonia Group.

Click above for study summaryThe 369-page report claims that total demand for countertops around the globe will reach 540 million m² in 2023. Of the four main countertop materials tracked in the study, market share will go up for natural stone, quartz surfaces and solid surface; only laminates will drop share.

Leading industry players in the worldwide countertop market will be DuPont, Formica, Panolam and Wilsonart International, according to the study.

Engineered quartz is forecasted to increase its share of the market, partly at the expense of granite. The report also comments on the 300%-plus unfair-trade tariffs on Chinese quartz surfaces, and the impact on the U.S. market.

The report also targeted China as the biggest international countertop market last year, with 22% of worldwide demand. The U.S. share was estimated at 15%, followed by India at 8% and Brazil with 3%.

For more information, go to https://www.freedoniagroup.com/industry-study/global-countertops-3745.htm

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