Engineered Stone Market Size & Share, Type (Engineered Quartz, Polymer Concrete, and Engineered Marble Stone); Application (Flooring, Countertop, Wall Cladding, Cut-to-size Items); Product (Tiles, Blocks & Slabs); End-use Industry (Residential and Commercial, Infrastructure) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5725
  • Published Date: Feb 22, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Engineered Stone Market is expected to reach USD 35 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of engineered stone was USD 21 Billion. The primary reason behind the growth of the engineered stone market is the increasing demand for engineered stone across the world. For instance, Quartz is one of the most plentiful minerals on the planet. Generally acknowledged as the engineered stone market, the Quartz stone market is thriving at a quick pace. The quartz slabs are developed by joining approximately 90 percent ground natural quartz along with 10 percent polyresin. However, these percentages can vary somewhat depending on the particular brand of quartz.

Another reason that will drive the engineered stone market during the forecast period is that it is a much more durable alternative to natural stones. For instance, quartz is pliable as it a less possibly to crack and is simple to install. Because of 93% quartz and 7% resin amalgamation, quartz is more powerful than natural stones such as granite or marble. In terms of persistence, Natural stones have the attributes of rocks; they are more inclined to staining as they can take liquid when something spills, whereas quartz having resins is naturally waterproof. The spills in natural stones should be cleared quickly to safeguard them from long-term harm. There is no management cost associated with quartz, as spills or debris can be managed with a sponge or water. Management is free for quartz as there is no sealer required. Contrarily, Natural stones require to be sealed every 1-2 years. Moreover, when it comes to management, quartz may conquer this time. Quartz is a non-penetrable component that is not simply influenced by acids brought by juice spills, coffee stains, and scorches. Its endurance makes the component unyielding to scratches. But it does not make the quartz countertops unyielding to heat.


Engineered Stone Market
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Engineered Stone Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Requirement for Visually Enchanting Countertops - One exciting prospect of quartz is its varied range of colors and patterns. These alterations are caused by impurities that were there during the creation techniques. For instance, amethyst quartz stone demonstrates purple hues because of traces of iron, while rose quartz demonstrates a pink coloration outcoming from titanium or manganese pollutants. This natural beauty makes quartz an alluring choice for embellishing purposes in architecture. Quartz is an outstanding choice for architects who want a wide spectrum of structural options. It shows a versatile range of looks to minister to different architectural priorities. Architects can opt for timeless white shades that give off sophistication and refinement or choose energetic, bold statement colors to develop enchanting focal points. Moreover, quartz presents the scope to duplicate the complicated veining patterns noticed in natural stones like marble or granite, giving a lavishing look without related management thoughts.
  • Growing Urbanization and Increasing Investment in Residential Properties - The influence of population expansion on housing growth in a developing economy is generally the result of the drive of the rural areas and the attraction of the town. There is always an escalation and aggregate of people in city centers with the resultant influence on housing expansion emerging from keen unemployment. Moreover, urbanization has activated substantial growth in both commercial and residential real estate segments, outcoming in the construction of tower block buildings, malls, hotels, and other properties. To match the rising requirement for housing and commercial spaces, real estate builders have encouragingly spent in urban areas.
  • Increasing Inclination Towards Green Construction Materials - The significance of renewable construction components in green building construction depends on their skill to increase energy effectiveness, limit waste, and reduce carbon emissions. By prioritizing the utilization of renewable construction components, green energy, and green buildings not only deliver a more renewable future but also encourage industry-wide conversions towards ecologically mindful practices. Global confirmations such as Leadership in Energy and Environmental Design (LEED) and local certifications such as Green Rating for Integrated Habitat Assessment (GRIHA) are majorly in demand because they plan, create, function, and manage cost and resource-effective, high executing, and secure structures.

Challenges

  • Shortage of Heat Resistance Capacity of Engineered Stone - Quartz countertops are artificially engineered stone countertops created by amalgamating roughly 90 % ground quartz (a natural hard mineral) with 8- 10 % resins, polymers, and pigments combined under strong heat and pressure to create a solid slab. This develops an intricate granite-like surface but needs less management. While quartz will not burn from the smallest amount of heat, you should not disclose the surface to huge heat. Quartz is an engineered stone that is created by amalgamating about 90 percent ground natural quartz with approximately 10 percent poly resin. Placing hot objects on a quartz countertop, like hot pans and hot pots, can cause substantial harm. If you keep very hot items on your quartz countertop, it will consequent in burn marks and discoloration. This is because massive heat melts the resin utilized on the surface.
  • Environment Health Concern
  • Expensive and Awareness Shortage

Engineered Stone Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

5%

Base Year Market Size (2023)

USD 21 Billion

Forecast Year Market Size (2036)

USD 35 Billion

Regional Scope

  • Asia Pacific (Japan, China, India, Australia, Others)
  • Europe (Germany, Spain, UK, France, Italy, Russia, Others)
  • North America (North America, Canada, Mexico)
  • Middle East and Africa (South Africa, UAE, Others)
  • Latin America (Brazil, Argentina, Others)
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Engineered Stone Segmentation

Product (Tiles, Blocks & Slabs)

The blocks & slabs segment in the engineered stone market will have the biggest growth during the forecast period and will account for the biggest share of 98% by the end of 2036.  This supremacy can be attributed to its hassle-free setup and easy administration properties and due to its cost-effective nature. Density A standard concrete slab will primarily be 4 or 6 inches dense, but this can be adjusted and controlled by the requirements of your project. Density is key in deciding the final cost of the project: the thicker the slab, the costlier it will be. A 4-inch slab, for instance, can cost anything from USD 0.50 to USD 1 less than a 6-inch slab. Other than natural stone, it is substantially less inclined to stains caused by usual food substances, like oil, wine, and juices, making it appropriate for kitchen applications. Engineered blocks and slabs can be created in large sizes, and their non-penetrable nature enables them to be utilized in wet areas, like bathrooms, swimming pools, showers, and bathtubs. The rising requirement for beautiful countertops to increase looks in interior frameworks is projected to drive the requirement over the anticipated period.

Application (Flooring, Countertop, Wall Cladding, Cut-to-size Items)

The countertops segment in the engineered stone market will hold the predominant profit share of 79% by the end of 2036 and will notice the biggest growth. This requirement can be attributed to the product’s stain-repellent properties. Moreover, the cost of quartz countertops scales from USD 45 to USD 200 per square foot, is impacted by factors such as grade, color selection, and edge treatment. Engineered stone slabs are relatively less costly than their natural substitutes and present greater selections in terms of shape, design, color, and texture. engineered stone comprises polymeric resins that are not UV persistent, causing the discoloration of the stone and the crack-up of the resin binder.

     Our In-Depth Analysis of the global engineered stone market Includes the Following Segments:

        Type

  • Engineered Quartz
  • Polymer Concrete
  • Engineered Marble Stone

       Application

  • Flooring
  • Countertop
  • Wall Cladding
  • Cut-to-size Items

       Product

  • Tiles
  • Blocks & Slabs

       End-Use Industry

  • Residential
  • Commercial
  • Infrastructure

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Engineered Stone Market - Regional Synopsis

APAC Market Forecast

The engineered stone market in the APAC region will dominate the revenue and will account for the biggest profit share of 35% by the end of 2036. This is because of the increasing product use in the construction and embellishment of residential and non-residential interiors in quickly increasing economies, like China, India, Japan, Malaysia, and Singapore. The government strategizes to spend CNY92.4 trillion (USD 13.7 trillion) by 2060 for green power transformation. As part of the initiative, the government plans to acquire net-zero emissions of greenhouse gases by 2060. China also plans to source 33% of its power from sustainable sources by 2025. Investment into infrastructure is essential policy equipment for the Chinese government to handle economic crises or downturns, but it occurs at a cost.

European Market Statistics

The engineered stone market in the European region will also encounter huge growth by the end of 2036 owing to the increasing mining rules in this region. For instance, on December 15, 2023, the European Parliament provided the green light for fresh rules to confirm the EU enhanced extraction and supply of planned raw materials. Through the law, the EU will make it simpler to open fresh mines, or planned projects, which are examined as especially essential, among other things. The focus is to confirm Europe's greater supply of crucial raw materials, which are important to the union's green and digital conversion.

Research Nester
Engineered Stone Market Size
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Companies Dominating the Engineered Stone Market

top-features-companies
    • LX Hausys
    • Company Overview
    • Business Planning
    • Main Product Offerings
    • Financial Execution
    • Main Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
    • Johnson Marble & Quartz
    • Technistone A.S.
    • Caesarstone Ltd.
    • Belenco
    • Quarella Group Ltd.
    • Quartzforms
    • Stone Italiana S.p.A.
    • Cosentino S.A.
    • VICOSTONE

In-the-news

In The News

  • December 27, 2023: LX Hausys is set to take part in DOMOTEX 2024, a global trade fair famous for its concentration on state-of-the-art advancements in the floor-covering industry. The fair happened in Hannover, Germany, from January 11 to 14, 2024. As one of the main participants in this accumulating in the flooring industry, LX Hausys will demonstrate its creative contributions and be involved with industry professionals, supporters, and stakeholders from across the world. Showcasing a devotion to remaining at the leading position of flooring technology, HFLOR will deliver a curated choice of Luxury Vinyl Tile (LVT) flooring solutions planned for the European market.
     
  • April 13, 2023: LX Hausys SMR® presented a creative solution for fulfilling materials, featuring an exceptional supermatt surface that is developed utilizing a special coating preparation and progressed coating technology. This unique material has a range of superb properties, comprising anti-fingerprint, stain resilience, scratch resilience, and chemical resilience. Whether a streamlined and stylish conclusion for your project or needs top-notch persistence and execution, LX Hausys SMR® will be your best option.

Author Credits:  Mohd Shadab, Yashika Karodiwal


  • Report ID: 5725
  • Published Date: Feb 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing demand for engineered stone across the world will majorly drive the market growth of the engineered stone market.

The market size of the engineered stone market is expected to get a CAGR of approximately 5% over the forecast period, i.e., 2024 - 2036.

The major players in the market are LX Hausys, Johnson Marble & Quartz, Technistone A.S., Caesarstone Ltd., Belenco, Quarella Group Ltd., Quartzforms, Stone Italiana S.p.A., Cosentino S.A., VICOSTONE, Shimizugumi Sekizai Industry Co., Ltd., Yoshida Stone Industry Co., Ltd., Tosoh Quartz Corporation, Taketo Shoten Co., Ltd.

The blocks & slabs segment is anticipated to reap the largest market size with almost 98% by the end of 2036 and demonstrate substantial growth scopes.

The market in the APAC region is expected to have the largest market share by the end of 2036 and provide more business opportunities in the future.
Engineered Stone Market Market Report Scope
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