How Has The Computer Vision in Engineered Stone Market Size Evolved In Recent Years?
The engineered stone market has seen considerable growth due to a variety of factors.
• In the last few years, the market size of engineered stone has seen robust growth. It is projected to rise from $27.64 billion in 2024 to $29.35 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.2%.
Factors contributing to growth during the historic period include a low-interest rate climate, an increase in single-family constructions, surging demand for energy-efficient materials, significant economic growth in developing markets, and global population growth.
What is the Forecasted Growth of the Engineered Stone Market Size?
The engineered stone market is expected to maintain its strong growth trajectory in upcoming years.
• It is anticipated that over the coming years the engineered stone market will experience consistent growth. The market is predicted to reach $35.47 billion in 2029, with a promising compound annual growth rate (CAGR) of 4.8%.
Factors contributing to this growth over the predicted period include expansion in global population and urban development, an emphasis on infrastructure construction, quickening industrialization, government support for construction initiatives, and an intensified focus on sustainable practices. Key trends expected over the forecast period involve the production and innovation of engineered stone from recycled materials, the use of hybrid print technology to enhance surface aesthetics, development of high-end stone surfaces and fittings, the introduction of engineered stone void of PVC (polyvinyl chloride) and plasticizers, and engineered stone that requires minimal installation effort.
What Key Factors and Trends are Driving the Growth of the Engineered Stone Market?
The engineered stone market's growth is projected to accelerate due to the flourishing construction industry. Engineered stones are extensively employed in the building of residential projects, which includes their use in kitchen countertops, floors, façade tiles, and other architectural applications. Due to their resistance to bacteria, scratch, and heat, engineered stones make for the perfect option for residential and commercial construction projects. The brisk escalation in the construction of commercial and residential projects will likely enhance the utilization of engineered stones throughout the predicted period. For instance, Eurostat, a Europe-based government agency, reported in February 2024 that the average annual building production in the EU and the euro region experienced a rise of 0.1% and 0.2% respectively compared to 2022. As such, the booming construction industry is the driving force behind the growth of the engineered stone market.
What Is The Segmentation Of The Global Engineered Stone Market?
The engineered stone market covered in this report is segmented –
1) By Type: Tiles And Blocks, Slabs
2) By Process: Cold Curing, Hot Curing
3) By Application: Countertops, Flooring, Wall, Facades, Others
Subsegments:
1) By Tiles And Blocks: Engineered Stone Tiles, Engineered Stone Blocks
2) By Slabs: Thin Slabs, Standard Thickness Slabs
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What Emerging Trends Are Shaping The Engineered Stone Market?
Leading businesses in the engineered stone market are prioritising sustainable production processes and innovative designs, aiming to provide customers with a plethora of visually appealing, high-performance surfaces suitable for both residential and commercial environments. The flexible use of these novel aesthetics in a variety of settings, such as homes, businesses, and hospitality venues, enables a wide spectrum of imaginative and practical interior design approaches. For example, in April 2024, Corian, an American company specializing in solid surface materials, introduced its 2024 aesthetics for Corian Quartz. This included fresh collections influenced by natural stone and quartzite, such as the Quartzite Collection, Iconic Stone Collection, and Elegant Neutrals Collection. These latest designs incorporate distinctive veining patterns and hues aiming to perfectly infuse the splendor of the natural world into residential and commercial spaces.
Who Are the Key Players in the Engineered Stone Market?
Major companies operating in the engineered stone market include:
• LX Hausys. Ltd
• Cosentino S.A.
• Caesarstone Ltd
• Vicostone Jsc
• Wilsonart LLC
• Quarella Group Ltd
• Quartzforms
• Diresco
• Granite & Marble Specialties
• Leko Stone Co. Ltd
• De Well Group Korea Co. Ltd
• Stone Ambassador
• Ydl Stone
• Australian Stone
• Gitani Stone Australia
• Ramolia Ceramic
• Mystic Stone Private Limited
• Aakar Granites
• Taanj
• Kalingastone
• Quantra
• Guangzhou Hercules Quartz Stone Co. Ltd
• Shandong Lylongsen Material Co. Ltd
• Foshan Strong Quartz Co. Ltd
• Yunfu Wayon Stone Co. Ltd
• Viva Quartz Stone
• Santa Margherita Spa
• Johnson Marble & Quartz
• Technistone A.S
• A.St.A. World-Wide
• Belenco
• Gransena
• Exotic Stones
• Granos
• Alicante
• Magban
• Thor Granitos
• Magnitos
• Top Marmore
• Laka Granite
• Patagonia Stone S.A
• Granito Serrano S.A
• Matavelli
• Mina Marbles
• Glaze Granite & Marble
• Prestige Stone Llc
• Grani Marmo Classic
• Jama Marble & Granite
• Marble Homes
What are the Regional Insights into the Engineered Stone Market?
Asia-Pacific was the largest region in the engineered stone market in 2024. The regions covered in the engineered stone market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
