The global engineering stone market is expected to reach $39,410.8 million by 2030 and grow at a CAGR of 5.0% in the 2021-2030 time frame. [235-Pages]

The global engineered stone market is expected to grow by 2030 due to the rise in construction activities. The sub-segment of engineered quartz is expected to be very profitable. market in Asia Pacific It is expected to be the fastest growing region.

New YorkAnd the August 5, 2022 /PRNewswire/ – Research Dive has added a new report to its presentation titled “Engineer stone market By type (engineered quartz, polymer concrete, engineered marble stone), application (flooring, wall cladding, cut-to-size elements, etc.), end-use industry (residential and commercial), and regional analysis (North AmaricaAnd the EuropeAnd the Asia Pacificand LAMEA): Global Opportunity Analysis and Industry Forecast, 2021-2030“.

According to the report, Global engineering stone market It is expected to collect a return of 39410.8 million dollars by 2030grow in Compound annual growth rate of 5.0% during the 2021-2030 Time Frame.

Engineering stone market dynamics

Drivers: Engineered stone has a wide range of applications such as kitchen countertops in residential spaces, flooring and wall cladding, etc. As a result of this wide application, there is a huge demand for engineered stone, which is expected to be the primary growth driver for the engineer. stone market In addition, the rapid rise in the number of construction activities worldwide is expected to boost the market further.

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Chances: The multiple properties of engineered stones and their unlimited design possibilities are expected to create many growth opportunities for the market in the forecast period. Besides, the wide range of applications of these stones is expected to help the market to expedite the forecast period.

Limitations: The lack of heat-resistant ability may hinder the growth trajectory of the engineered stone market.

The impact of Covid-19 on the engineering stone market

The Covid-19 pandemic has had a negative impact on many businesses and industries, including the engineered stone market. The main reason behind this is the lockdowns that have been imposed in various countries. These shutdowns have disrupted global supply chains, impeding the supply of raw materials as well as the delivery of manufactured products. Quarrying activities halted, disrupting the supply of raw materials, while halting construction activities eliminated the demand for engineered stones. This supply and demand side shock led to a lower rate of market growth during the pandemic period.

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Engineering stone market segments

The report has segmented the Engineered Stone market into several segments based on type, application, end-use industry, and regional analysis.

  • By type, it is estimated that engineered quartz sub-segment of engineered stone market will have the largest share by 2030. Various properties of engineered quartz such as wear resistance, elegance, etc. have made it very popular and thus it is used in various applications such as flooring of commercial buildings and residential. This growth in popularity is expected to drive the sub-sector forward.
  • By application, the flooring sub-segment is expected to capture the largest share of the market by 2030. Engineered stones due to their longevity and improved property value are widely used for flooring purposes, which is why this sub-segment is expected to grow significantly in the forecast period .
  • With the end-use industry, the commercial sub-sector is expected to have a staggering growth rate by 2030, due to the rise in the construction of commercial spaces, in which engineered stone has been used. This growth in construction activities is expected to drive the market forward.
  • By regional analysis, the Engineering Stone Market in Asia Pacific It is expected to be the fastest growing region as well as the most dominant sub-segment by 2030. Presence of leading engineering stone producers such as India And the China Besides the increasing number of construction activities due to rapid urbanization is expected to drive the market in this region forward.

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Important engineered stone market players

Some of the prominent players in the engineered stone market are

1. LG Houses

2. johnson marble & quartz

3. Technistone AS

4 – Caesarstone Ltd.

5. Belenco

6. Quarella Group Ltd

7. Quartz Forms

8. Italian Stone S.p.A.

9. Vicoston

10. Dersco, among others.

These players develop various business strategies such as product development and promotion, mergers and acquisitions, partnerships and collaborations to gain a leadership position in the market. – Buy the full report here

for example, in September 2021The Engineered Stone GroupThe leading manufacturer of engineered stone products has announced the acquisition of two Europe Leading manufacturers of bathroom products. The acquisitions are expected to help the acquiring company, i.e. The Engineered Stone Group, to significantly increase its presence in the market

The report also summarizes several critical aspects including SWOT analysis, product portfolio, financial performance of key market players, and the latest strategic developments.

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