Corian Acrylic Solid Surface Market Size & Share, by Type (Casting, Extrusion Molding Solid Surface); Application (Kitchen, Flooring, Bathroom, Furniture, Wall Surfaces, Transportation); End-user (Households, Hotels, Hospitals) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3774
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Corian Acrylic Solid Surface Market size is poised to surpass USD 500 Million by the end of 2035, growing at a CAGR of 4% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of corian acrylic solid surface was over USD 200 Million. The primary factor for market growth is the rapid growth of the construction and remodeling industry. Corian acrylic solid surfaces are considered a good option for constructing buildings and infrastructures owing to their advantages such as mechanical strength, flexibility, high durability, and cost-effectiveness. Therefore, with the recent boom in the construction industry, the utilization rate of Corian acrylic solid surfaces is expected to increase subsequently. This factor is expected to bring lucrative growth opportunities for market growth during the forecast period. For instance, as per the latest data, the size of the global construction industry was calculated to be almost USD 8 trillion in 2022 and is further expected to reach USD 17 trillion by 2029 with a CAGR value of almost 7%.

In addition to the aforementioned factors, the popularity of Corian acrylic solid surface is constantly rising owing to its usage in various types of applications such as kitchen countertops, sinks, bathtubs, flooring, and others. Also, the increasing preference for aesthetically pleasing designs with various colors and shapes to beautify homes is propelling the usage of Corian acrylic solid surfaces in homes. These factors couple up to increase the utilization rate in residential properties as well as commercial infrastructure too and aid in the expansion of market size during the forecast period. Moreover, the rapid urbanization and industrialization in developing countries and rising investment in the development of advanced materials such as Corian acrylic solid surface for use in residential and commercial segments are estimated to create substantial revenues for market players.


Corian Acrylic Solid Surface Market
Get more information on this report: Request Free Sample PDF

Corian Acrylic Solid Surface Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Construction Projects Across the World – As the world is seeing rapid urbanization and industrialization, the need for infrastructure and buildings has grown considerably for sustenance and economic growth. As a result, the governments of different nations are investing huge money in initiating construction projects all over the world. As a result of growing construction projects, the utilization rate of Corian acrylic solid face is estimated to increase subsequently. Hence, this factor is expected to create favorable opportunities for market growth during the forecast period. For instance, as of May 2022, India has the most infrastructure construction projects totaling more than USD 25 million in planning or operation. Moreover, it has been estimated that construction processes on the global level are projected to increase by 12% by 2035.

  • Rapid Growth in the Real Estate Industry – Nowadays, in urban areas, there has been a constant demand for commercial buildings, complexes, residential properties, and other infrastructure development work. Construction firms prefer to use high-quality Corian acrylic solid surfaces for the development of aesthetically pleasing as well as robust buildings. Thus, with the quick development of the real estate industry, it is anticipated to create favorable options for an increased utilization rate of Corian acrylic solid surfaces. Hence, this factor is anticipated to help in expanding in market size during the forecast period. According to recent statistics, it was revealed that the revenue generation of real estate companies presents across the world was around USD 9 billion in 2021. This figure is estimated to increase and reach almost USD 15 billion by 2030 with a CAGR value of 5%.

  • Increasing Disposable Income of the Global Population - As the economies are growing, so is the disposable income of the people. As a result, individuals have more spending capacity to spend on the appearance and looks of the rooms by adopting modern products such as Corian acrylic solid surfaces. Hence, the high adoption rate of Corian acrylic solid surface among the high-income population is projected to expand the market size in the assessment period. The disposable personal income in the US rose by about 1 percent in August 2022 compared to the same month the previous year.

  • High Rate of Urbanization and Industrialization – Presently, a huge number of people are residing in urban areas, and more people have been shifting towards urban cities because of better opportunities and enhanced services. Thus, the ratio of urbanization has been increasing rapidly, which is to leading the growth of construction activities across the globe. Such a factor is fueling up the utilization rate of Corian acrylic solid surfaces in buildings and infrastructures, which is subsequently projected to positively contribute to the growth of the market over the forecast period. For instance, in 2018, 55% of the world's inhabitants lived in cities, and by 2050, that number is projected to rise to 68%.

  • Rising Trend of Remodeling and Renovation of Houses – People nowadays are propelled towards renovating their houses to enhance their appearance and make them last longer. Therefore, people are spending a huge amount of money for improving their houses with high-quality construction equipment such as Corian acrylic solid surface. Therefore, this trend is expected to fuel the global market in the next few years. It was observed that in 2021, a hefty amount of USD 550 billion was spent by Americans for home improvement purposes 2021. Also, it has been calculated that the United States remodeling industry earned approximately USD 1 billion in revenue in 2021 and is expected to continue to grow with a CAGR of 4% till 2027.

Challenges

  • High Cost of the Product – Corian acrylic solid surfaces are being utilized in limited business settings and residential rooms owing to their exorbitant cost. Also, the high cost of Corian acrylic solid surface is an added expense in the construction process which increases the overall cost of the infrastructure. As a result, people with low incomes are not able to afford it. Therefore, the high cost of Corian acrylic solid surface is considered to be a major obstacle to their expansion in residential buildings and ultimately hamper the growth of the global market during the assessment period.
  • Increase Costs of Raw Materials
  • Stringent Rules by the Government

Corian Acrylic Solid Surface Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~4%

Base Year Market Size (2022)

~ USD 200 Million

Forecast Year Market Size (2035)

~ USD 500 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Corian Acrylic Solid Surface Segmentation

Application (Kitchen, Flooring, Bathroom, Furniture, Wall Surfaces, Transportation)

The global Corian acrylic solid surface market is segmented and analyzed for demand and supply by application into the kitchen, flooring, bathroom, furniture, wall surfaces, transportation, and others. Out of these segments, the flooring segment is estimated to gain the largest market share of about ~32% in the year 2035. The primary factor for segment growth is the rising need for renovating floors over some time. Also, with the rising disposable income and spending capacity, people are focusing on the adoption of high-quality materials for the flooring to make them last longer.  Moreover, as Corian acrylic solid surface is good for a smooth, clean, hard, and attractive surface to the floors and along with its cost-effectiveness, Corian acrylic solid surface is considered to be a preferred option over others. All these factors add up to positively contribute to segment growth.

End-user (Households, Hotels, Hospitals)

The global Corian acrylic solid surface market is also segmented and analyzed for demand and supply by end-user into households, hotels, hospitals, and others. Amongst these segments, the household segment is expected to garner a significant share of around ~42% in the year 2035. The growth of the segment is attributed to growing residential construction activities in developed as well as emerging economies such as China, India, Brazil, and South Korea, along with rapidly increasing urbanization which generates a high demand for household construction. The United States Census Bureau stated that there were around 142,153,010 housing units in the U.S. as of June 2021. Also, the advantages of using Corian acrylic solid surface make it applicable for every nook and corner of a house; kitchen, bathroom, wall surfaces, furniture, and floors. This factor is anticipated to fuel segment growth during the forecast period.

Our in-depth analysis of the global market includes the following segments:

          By Type

  • Casting Solid Surface
  • Extrusion Molding Solid Surface

         By Application

  • Kitchen
  • Flooring
  • Bathroom
  • Furniture
  • Wall Surfaces
  • Transportation
  • Others

         By End User

  • Households
  • Hotels
  • Hospitals
  • Others

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Corian Acrylic Solid Surface Industry - Regional Synopsis

APAC Market Statistics

The market share of Corian acrylic solid surface in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035. The primary factor for market growth in the region is the rapid expansion of the construction industry in Asia Pacific. The building construction industry in Asia Pacific is expected to reach USD 3 million by 2024, with a robust CAGR of 7%. In addition to other factors, the constantly rising disposable income of the burgeoning population in the region is expected to increase the demand for non-residential and residential building construction which is further anticipated to bloom the demand for the Corian acrylic solid surface market. It was calculated that Asia Pacific was the largest region in the global non-residential building construction market, accounting for 43% of the total in 2021, and is expected to grow with a steady 9% CAGR till 2029.

North American Market Forecast

The North American Corian acrylic solid surface market is estimated to be the second largest, registering a share of about ~24% by the end of 2035. Massive investments in the construction industry along with the rising focus to build single-family housing is a major factors that will bring growth opportunities to the market. Moreover, the presence of major key players and strict government regulations over using of high-quality sustainable products for environmental protection are also projected to propel fuel market growth during the assessment period.

Europe Market Forecast

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The large investments made by the government in construction development along with the rising need for repair and renovation in many buildings of the region is anticipated to drive the market. Moreover, the burgeoning population in the region along with the penetration of urbanization and industrialization in the region is projected to create a positive outlook for the expansion of market growth during the forecast period.

Research Nester
Corian Acrylic Solid Surface Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Corian Acrylic Solid Surface Landscape

top-features-companies
    • DuPont de Nemours, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • SYSTEMPOOL S.A.
    • Lion Chemtech Co., Ltd.
    • LX Hausys, Ltd.
    • LOTTE Chemical Corporation
    • Hanwha Group
    • Relang International, LLC
    • ARISTECH SURFACES LLC
    • American Bath Group
    • Monerte Surfaces Materials

In the News

  • October 2020- DuPont Performance Building Solutions and Corian Design announced the business’s sustainability goals for 2030, which also includes the reduction of greenhouse gas emissions from operations by 75 percent from 2019 levels.

  • March 2020- LX Hausys introduced new colors to its HI-MACS Aurora and Terrazzo collections of solid surfaces. The new colors provide versatile design operations for education, corporate, and hospitality environments.

Author Credits:  Rajrani Baghel


  • Report ID: 3774
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the market growth are rising investments by companies to develop premium quality acrylic solid surfaces, and increasing construction and infrastructural activities globally.

The market size of Corian acrylic solid surface is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023-2035.

Low utilization of the product in underdeveloped regions along with the lack of awareness regarding Corian acrylic solid surfaces and the requirement of higher initial investment is estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are DuPont de Nemours, Inc., Systempool S.A., Lion Chemtech Co., Ltd., LX Hausys, Ltd., LOTTE Chemical Corporation, Hanwha Group, Relang International, LLC, Aristech Surfaces LLC, American Bath Group, Monerte Surfaces Materials, and other key players.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by type, application, end-user, and by region.

The households segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

The household segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Corian Acrylic Solid Surface Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying