The Latin America, Middle East and Africa Countertops Market would witness market growth of 7.9% CAGR during the forecast period (2022-2028).
The market is expanding strongly due to increased private spending on home improvements and a consistent rise in the residential building industry globally. In brand-new homes and during kitchen renovations, countertops are typically added. Also, there is a surge in bank lending and mortgage refinancing, which makes more credit available for renovating existing homes and fuels demand for countertop products.
Low-interest rates, rising disposable income, and a rising employment rate, particularly in industrialized nations, are projected to increase demand for residential development. In addition, due to increased private spending on home modifications and residential construction, countertop material sales are anticipated to increase steadily over the projection period.
The infrastructure of major cities has grown significantly as a result of urbanization, and the construction of new homes and businesses has progressed quickly. As the population of the city grows, so does the number of hotels, restaurants, schools, parks, and gardens in the area. The hospitality industry has grown more quickly as a result of the concurrent growth of the tourism industry. The main factors driving the market expansion are the increasing economy and the quick growth of Africa's urban population, and their purchasing power.
The Brazil market dominated the LAMEA Countertops Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,398.9 Million by 2028. The Argentina market is experiencing a CAGR of 8.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 7.6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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