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Kitchen countertop Market - Global opportunity analysis and industry forecast, 2020-2027

A08703
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Jun 2021 | 215 Views
 
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COVID-19

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Kitchen countertop is a work surfacethat is horizontal and is used for the preparation of food. The size and design of the kitchen countertop varies according to the choice and preference of the customers. Kitchen countertop gives an attractive look to any kitchen and it can be made by using different materials such as marble, granite, stainless steel, wood countertops, glass countertops, concrete countertops and butcher-block countertops. Various factors are taken into consideration before selecting the material for kitchen countertops. These factors includes cost, appearance, functionality, durability and hygienic. Based upon these factors appropriate material is selected for kitchen countertop.

Market scope and structure

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Material type, Application, End user industry and Region

  Companies covered

Quarella, Cosentino S.A., Caeserstone Ltd., LaminamSpA, Pokarna Limited, Vicostone, Cambria Co., Aro Granite Industries Ltd., Asian Granito India Ltd., LG Hausys, Ltd., Neolith, Sapienstone, Florim Stone, Tile & Stone Works, Strasser Stein

  Regions covered

North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy and rest of Europe), Asia-Pacific (China, India, Japan, South Korea and rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa)

COVID-19 scenario analysis:

  • The demand for kitchen countertop is expected to decrease in 2020 due to low demand from different industries such as construction industry due to the lockdown imposed by government of many countries.
  • Corona virus has affected the import and export of construction materials. China is the largest exporter of construction materials globally. Negative trends in the economy of China are anticipated to reduce the global import and export throughout the globe.
  • Demand for new construction materials have witnessed a massive negative shift since the corona outbreak in December 2019, with manufactures and investors fearing an excessively receding economic growth.
  • Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted throughout the globe.
  • Construction materials manufacturing companies located in China, are the major sufferers of from the virus outbreak, owing to lockdown and unavailability of logistics in the region.
  • The major hindrance for the global construction materials market comes from the orders of home quarantine by respective governments, which has led to the discontinuing of production of construction materials.
  • Decreased consumer demand and consumption has led to reduction and slow down of sales of construction materials all over the globe over the course of the current economic year.
  • Therefore, the kitchen countertop market is expected to be negatively affected in 2020.

Key driving factors for the growth of kitchen countertop market:

The kitchen countertop market has witnessed an increase in demand across the globe in the last few years. Especially the demand for stainless steel kitchen countertop, marble based kitchen countertop and granite based kitchen countertop is more as compared to other types of kitchen countertops. Many companies are trying to produce attractive and better quality kitchen countertops so as to gain market share.

The kitchen countertop manufacturers are also witnessing the rise in demand for quartz kitchen countertop. Quartz is an advanced engineered material which gives more advantages than the granite or marble kitchen countertop. Quartz countertop is considered to be more eco-friendly type of kitchen countertop as the quartz is composed of the materials which comes directly from the earth’s ore. Also, the life of quartz kitchen countertop is more as compare to the other type of countertop. As, the maintenance required for the granite kitchen countertop is more than the quartz countertop, many people prefer the use of quartz over the granite. 

Key segments covered:

Segments

Sub-segments

  Material type

 

  • Stainless steel
  • Marble
  • Granite
  • Quartz
  • others

  Application

 

  • Household
  • Restaurants
  • Bars

  End user

 

  • Hotel industry
  • Residential
  • Commercial

Key benefits of the report:

  • This study presents the analytical depiction of the kitchen countertop market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the kitchen countertop market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the kitchen countertopmarket growth scenario.
  • The report provides a detailed kitchen countertopmarket analysis based on competitive intensity and how the competition will take shape in coming years.
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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