Dublin, Feb. 13, 2023 (GLOBE NEWSWIRE) -- The "US Residential Countertops Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.
Demand for countertops in the US residential building market is forecast to rise 4.8% per year to 941 million square feet in 2026, valued at $52.1 billion, with growth boosted by:
- the large stock of older homes nationally that require kitchen and bathroom remodelling, either to meet the current homeowner's needs or to add value to the home for its eventual sale
- trends favouring larger kitchens and multiple bathrooms
- increasing interest in outdoor kitchens, islands, and wet bars
However, new housing construction and home remodelling began to normalize in 2022 following exceedingly high levels in 2021. This trend will continue through the forecast period, limiting even greater demand gains.
Companies Mentioned
- Caesarstone
- Patrick Industries
- Polycor
- Trinseo
- Wilsonart
Demand Gains Will Be Primarily Derived from Kitchen & Bath Renovations
Remodelling activity drives residential countertop demand. As countertops are a key design component in many homes, they are often updated when homeowners renovate kitchens and bathrooms, particularly when they are selling or buying a home.
Value gains will be driven by homeowners increasingly opting for engineered stone and porcelain slab countertops during remodelling projects, as these in-demand materials can improve a home's value.
Engineered Stone's Leading Market Position Continues to Expand
Engineered stone is expected to continue to see market share gains, as the material becomes more widely available and favoured for its durability and aesthetics. This trend began in the previous decade, when the rapid increase in low-cost slabs from foreign markets - particularly China, India, Turkey, and Vietnam - made engineered stone countertops more affordable for middle-class homeowners.
As less expensive types of engineered stone proliferated and color availability expanded, consumers became much more willing to purchase higher cost countertops and grew to strongly prefer the aesthetics and quality of engineered stone over competitive materials, particularly laminates.
From Low Base, Porcelain Slab Countertop Demand to Grow Rapidly
Similar to the rapid advances seen for engineered stone over the past decade, porcelain slab demand has risen robustly since 2016 and is expected to be the fastest growing countertop material in the US (albeit from a relatively low base). Porcelain slab's popularity is rising quickly as consumers seek alternatives to engineered stone and granite.
These consumers want to differentiate their homes but still install countertops with a natural appearance and favorable performance properties. In addition, porcelain slab has become more widely available as the number of suppliers offering this material increased in recent years.
Key Topics Covered:
1. Executive Summary
2. About This Report
3. Overview
4. Consumer Insights
- Homeownership & Home Rental
- Historical Trends
- Homeownership vs. Rental Rates: Age Groups
- Homeownership vs. Rental Rates: Annual Household Incomes
- Relocation Trends
- Recent Buyers of Countertops
- Intended Space or the Countertop
- Reason for Buying a Countertop
- Location of Purchase of Countertops
- Consumer Attitudes About Countertops
- Preferred Features of Countertops
5. Surface Materials
- Demand by Surface Material
- Engineered Stone Countertops
- Natural Stone Countertops
- Product Scope & Demand Forecasts
- Granite
- Marble & Other Natural Stone
- Laminate Countertops
- Solid Surface & Other Cast Polymer Countertops
- Tile Countertops
- Porcelain Slab/Sintered Stone
- Other Surface Materials
6. Key Suppliers & Industry Structure
- Industry Composition
- Key Suppliers
- Mergers & Acquisitions
- Marketing
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/t1iwv2-residential?w=12
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
