World Countertop Demand to Reach 341 Million Square Meters in 2013

Global demand for countertops is projected to increase 3.3 percent annually to 341 million square meters in 2013.  Advances will be aided as countries such as Brazil, China and India continue to build large volumes of modern housing units each year to accommodate the needs of their growing populations.  Gains will also be spurred by homeowners upgrading from free-standing furniture to conventional countertops in many parts of the world. The remodeling market accounts for the larger share of global countertop sales.  In the most general terms, this is because the size of the housing stock dwarfs the number of new homes built each year so the potential market base is larger.  These and other trends, including market share and product segmentation, are presented in World Residential Countertops, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

In 2008, laminate countertops accounted for more than one-quarter of global sales.  Nearly 40 percent of laminate countertops were sold in North America, where laminate countertops lead demand because they are low-cost options due to a competitive local market, but are still offered in a variety of colors and textures to appeal to homeowners.  Solid surface and natural stone countertops each comprised one-fifth of global demand.  Nearly 70 percent of solid surface countertops were sold in the Asia/Pacific region where they are low-cost options because of limited color offerings and a competitive local production base.  Engineered stone -- which is primarily used in the more developed countries due to its high cost -- is expected to achieve the most rapid gains through 2013, albeit from a very small base. 

The Asia/Pacific region, the largest market, accounted for 43 percent of global countertop sales in 2008.  Advances in this market will be primarily driven by China, which accounted for nearly half of the region’s countertop sales in 2008.  India is expected to post somewhat stronger gains through the forecast period as it also develops additional, modern housing to accommodate its population’s needs and the continuing migration from rural areas to cities.  North America was the second largest regional market in 2008, accounting for 19 percent of global sales. 

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.