Global Engineered Stone Market Report and Forecast 2024-2032

Global Engineered Stone Market Outlook

The global engineered stone market size reached a value of approximately USD 25.00 billion in 2023. The market is further projected to grow at a CAGR of 5.50% between 2024 and 2032, reaching a value of USD 40.48 billion by 2032.

Key Trends in the Market

Engineered stone is made up of crushed stone bound together by adhesives for creating a solid surface. The resilient nature of these stones and availability of a wide variety of colours and designs is increasing their popularity. Due to their non-porous nature, they prevent bacterial and fungal growth, making them suitable for commercial applications.

• Increasing home remodelling and reconstruction activities are boosting the utilisation of engineered stones for flooring and countertop applications due to their durable nature as well as for boosting the aesthetic appeal of the household, aiding the engineered stone market expansion.

• The applications of engineered stones in commercial buildings for designing washrooms and kitchens are rising. The stylish nature of the stones helps in increasing the aesthetic appeal of commercial spaces whereas the durable and long-lasting nature allows them to cater to a large footfall.

• The adoption of custom designed countertops is increasing as they fit perfectly in the allocated space and do not have any odd finishes and angles; even in limited spacing custom countertops ensure smooth working.

Market Analysis

Based on product, the market is bifurcated into blocks and slabs and tiles. On the basis of application, the market is divided into countertops and flooring. By region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global engineered stone market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Belenco

• Caesarstone Ltd.

• Efesus Stone

• Prism Johnson Limited

• LX Hausys, Ltd.

• Q.R.B.G. S.r.l.

• Quartzforms Spa

• Santa Margherita S.p.a.

• Stone Italiana S.p.A.

• Technostone

• Others

Market Share by Application

The flooring application is expected to account for a significant share of the market over the forecast period, owing to the growing utilisation of engineered stones due to their non-porous and water-resistant nature. The durable and easy to clean nature of engineered stone is increasing their adoption in basements, kitchens, and bathrooms as they are able to withstand heavy foot traffic and provide a natural and elegant appeal to the room.

Market Share by Region

The Asia Pacific is anticipated to witness significant growth in the coming years due to increased adoption of engineered stones for decoration and construction purposes in non-residential and residential sectors. Presence of various key market players and manufacturers such as Efesus Stone and Prism Johnson Limited in the region along with the adoption of aggressive marketing and promotional strategies is aiding the engineered stone market growth. Rising industrialisation and urbanisation are boosting the utilisation of engineered stones in construction sector for flooring and wall cladding, among others.

Competitive Landscape

Caesarstone Ltd. is known for the marketing and production of quartz surfaces used in vanity tops, kitchen countertops, and flooring, among others. The company was founded in 1987 and is based in Sdot Yam, Israel.

Efesus Stone is known for providing travertine and marble, among other stone types for bathrooms, kitchens, and other living spaces. The company was established in 1943 and is headquartered in Ä°scehisar, Turkey.

Prism Johnson Limited is one of the leading integrated building materials company providing a wide range of products such as tiles, cement, and ready-mixed concrete. The company was founded in 1992 and is based in Telangana, India.

Other players in the engineered stone market include Belenco, LX Hausys, Ltd., Q.R.B.G. S.r.l., Quartzforms Spa, Santa Margherita S.p.a., Stone Italiana S.p.A., and Technostone, among others.

Key Highlights of the Report