The global countertop market is showing an upward trend throughout the world due to various factors such as rising rates of employment, increasing disposable incomes and low interest rates, particularly in the United States, which has encouraged the demand of residential construction. Hence, the global countertop market is growing steadily as residential construction and private spending on home enhancements are exhibiting a growth trend. Countertops are usually installed in new homes and during the renovations of kitchens.
In addition, there is an increase in mortgage refinances and lending from the banks, and hence making more credit available for the refurbishment of existing homes and this adds a further boost to the countertop market. Hence, a stable rise in the countertops sales is due to a rise in the residential construction and increase in the private spending on homes. The market value of countertop market is set to rise due to an increasing preference of higher priced materials rather than the laminates.
Adding to this scenario is the drop in the price of the granite stone. This is particularly true for the countertop market in the United States where there has been an increased flow of granite from low-cost imports. A steady supply of low cost granite since the past decade has made this material popular and widely available in the mass market in the United States. Hence, more and more consumers are preferring granite countertops due to their high level of aesthetics and relatively lower cost.
This XploreMR report on the global countertop market forecasts that the global countertop market will touch a valuation of nearly US$ 142,000 Mn in the year 2026 and exhibit a moderate CAGR during the period of assessment.
Countertop Market: Global Industry Analysis (2012 - 2016) & Opportunity Assessment (2017 - 2026)Buy Now
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