U.S. Countertops Market - Focused Insights 2023-2028

MARKET INSIGHTS

The US countertops market was valued at $28.07 billion in 2022 and is projected to reach $35.30 billion by 2028, growing at a CAGR of 3.90% over the forecast period.

Quartz countertops are leading this upward trend, fueled by the demand for durable and premium materials alongside a nationwide uptick in kitchen and bathroom remodels. The bathroom countertops segment follows closely, growing at a CAGR of 4.08%, driven by increased construction activities and a preference for more luxurious bathroom designs.

On the commercial front, the market is expanding rapidly, with the hospitality sector playing a key role, reflected in the rising number of hotels and restaurants and a surge in retail store constructions. Granite, known for its durability and resistance to daily wear and tear, remains a favorite, benefiting from the US's strong economy and consumers' willingness to invest in quality home improvements.

Granite's diverse range of patterns and colors and its sustainability as a recyclable material align with the growing consumer consciousness for eco-friendly options, thereby increasing its demand. Despite its higher cost and maintenance, Marble continues to be sought after for its luxury and aesthetic appeal, especially among the higher-income demographics.

The growing trend of extensive kitchen renovations, including the addition of outdoor kitchens and kitchen islands, further propels the market. These trends are supported by increasing disposable incomes, as evidenced by personal disposable income figures rising from $18,356.1 billion in Q4 2021 to $19,136.0 billion in Q4 2022, as the Bureau of Economic Analysis reported.

Moreover, the demand for countertops is surging in the commercial sector, particularly in the hospitality industry, which is experiencing a revival with an influx of both local and international tourists, and the retail sector, which has seen a 1% increase in sales as of June 2023.

The US countertops market, characterized by its competitive and fragmented nature, is home to several prominent players such as Caesarstone, Cambria, Cosentino Group, Dupont, Formica Corporation, and Wilsonart. These major players are investing heavily in R&D to introduce innovative products and are expanding their distribution networks to cater to the growing customer base.

In summary, the US countertops market is poised for robust growth, driven by consumer trends, economic factors, and a competitive landscape fostering continual innovation and product development.

KEY HIGHLIGHTS:

• The US countertops market was valued at $28.07 billion in 2022 and is expected to reach $35.30 billion by 2028, growing at a CAGR of 3.90% during the forecast period.
• The US countertops market is growing significantly due to the trend of making larger kitchens and multiple bathrooms, increasing interest in outdoor kitchens, wet bars, and islands, emerging demand for smart countertops, increasing demand for durable laminated countertops, a surge in the hospitality industry, increasing remodeling activities of residential bathroom & kitchen, rising commercial building and housing construction, and increasing research & development.
• Quartz material-based countertops’ popularity is rising in the US market. It is known for its durability, low maintenance, and stain resistance properties.
• There is a significant demand for marble countertops from the hospitality industry in the US market, as it gives a luxurious look to kitchens and bathrooms.
• Caesarstone, Cambria, Cosentino Group, Dupont, Formica Corporation, and Wilsonart are the leading players with strong market penetration. Vendors such as American Countertops Inc., Aristech Surfaces LLC, GRAMACO GRANITE AND MARBLE, Lotte Chemical, Hyundai L&C, Levantina, LX Hausys, Lozier Corporation, Midland Marble Ltd, PANOLAM INDUSTRIES INTERNATIONAL INC, Paxton Countertops, Precision Countertops, and others are the prominent players in the market with a noteworthy presence. 
• The demand for laminate countertops is rising in the US, as it is known for its resistance to stain and scratch. It is ideal for busy homeowners. The laminate countertop companies can use a push strategy in the market to gain new customers.
• The demand for custom countertops is rising in the US residential sector, which are unique and reflect their personal style. Many companies offer 3D visual services that help homeowners visualize different home countertops before making a purchase.