Latest News- Engineered Stone Market: Block and slabs is expected to lead the Type segment during 2024-2028

The Engineered Stone Market is being driven by Rising demand for durable alternatives to natural stone

The Engineered Stone Market is expected to grow at a CAGR of 6.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 11.3 billion. The global trend towards sustainable and eco-friendly building projects is significantly increasing the demand for engineered stone, a sustainable and non-toxic alternative to traditional building materials. This trend is particularly prevalent in the residential sector, where businesses are investing in eco-friendly housing projects in response to client demand and environmental regulations in countries such as Australia, China, Singapore, the US, and Canada. Additionally, the health risks associated with traditional furnishings, which release harmful volatile organic compounds (VOCs), have led to a growing preference for eco-friendly and hypoallergenic engineered stone products in both commercial and residential applications. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Block and slabs
  • Tiles
• Application
  • Countertops
  • Flooring
  • Others
• Geography
  • APAC
    • China
  • Europe
    • Denmark
    • Italy
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising demand for durable alternatives to natural stone
• Growing residential construction activities
• Increasing demand for fancy countertops

However, the market also witnesses some limitations, which are as follows:

• High cost of engineered stone
• Shortage of construction labor in developed countries
• Rising popularity of substitutes for engineered stones

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Market Scope in Engineered Stone Market Research Report

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Research Analysis Overview

The Engineered Stone Market has witnessed significant growth in recent years due to the increasing trend of Reconstruction Activities and Home Remodeling. Engineered stone, also known as agglomerated stone or solid surface, is made from crushed stone bound together by resins or polymers. This makes it a durable and aesthetically pleasing substitute for natural stone. One of the key advantages of engineered stone is its resistance to Fungal Growth and Bacterial Growth, making it an ideal choice for commercial projects such as cafeterias and hospital kitchens. Its designs and Colours are diverse, ranging from natural stone looks to more modern and unique options. Engineered stone is also eco-friendly as it can be made from Recyclable Materials, such as crushed glass from wine and liquor bottles, and silicon oxide from porcelain sinks. Stonemark, a leading engineered stone manufacturer, offers a wide range of blocks and slabs for various applications. Investments in Construction, Infrastructure Projects, and Residential Projects continue to drive the demand for engineered stone. Its durability and low maintenance make it a popular choice for fancy countertops and interior structures. Adhesives are used to bond engineered stone to various surfaces, ensuring a strong and long-lasting bond. Overall, engineered stone is a cost-effective and sustainable alternative to natural stone.

Market Research Overview

The global diversified metals and mining industry encompasses businesses involved in the production or extraction of a range of metals and minerals, including non-ferrous metals such as lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium, as well as salt, borate, phosphate rock, and other diversified mining operations. According to Technavio, the market size is determined by the consolidated revenue generated by these companies from their metal and mineral extraction activities and diversified mining operations.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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