The Asia Pacific Countertops Market would witness market growth of 6.4% CAGR during the forecast period (2022-2028).
Countertops are installed in newly constructed homes as well as during kitchen renovations. The demand for countertop materials is also being driven by an increase in bank lending and mortgage refinancing, opening up more credit for remodelling already-existing homes. The market value of the industry under research is anticipated to grow over the projected period as consumers increasingly favor more expensive materials overlaminates.
Also, among the most recent developments in the countertop business are rust-free concrete, reclaimed wood, tactile and leather surfaces, eco-friendly composite stone, and non-porous laminates. The continuous rapid development of emerging economies like China, India, and Brazil also increases the demand for products. Additionally, the top competitors are also implementing customer-driven marketing strategies, which could be a major factor in boosting industry growth throughout the projection period.
China's tourism industry is contributing more to the national economy. The main drivers of this travel boom are the expansion of a newly prosperous middle class and the loosening of Chinese government travel restrictions. China is currently one of the largest international outbound tourist markets. Due to their high disposable earnings, residents of the area are now more affordable. The APAC region's countertops market is anticipated to have consistent expansion due to the region's developing tourism and hospitality industries.
The China market dominated the Asia Pacific Countertops Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $19,846.9 Million by 2028. The Japan market is experiencing a CAGR of 5.8% during (2022 - 2028). Additionally, The India market would display a CAGR of 7.1% during (2022 - 2028).
Based on Application, the market is segmented into Kitchen, Bathroom and Others. Based on End-user, the market is segmented into Residential and Commercial. Based on Material, the market is segmented into Granite, Solid Surface, Engineered Quartz, Laminate, Marble and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Countertops Market is Projected to reach USD 187.6 Billion by 2028, at a CAGR of 6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Masco Corporation, Cambria Company LLC, Aristech Surfaces LLC (Trinseo PLC), Wilsonart LLC, Caesarstone Ltd., Formica Group (Broadview Holding), Cosentino Global, S.L.U., MS International, Inc., Dal-Tile Corporation (Mohawk Industries, Inc.), and Rosskopf + Partner AG (Hope Bearer Foundation)
By Application
By End-user
By Material
By Country
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