Engineered Quartz Surface Market Growth Trends and Future Outlook by 2030

The Engineered Quartz Surface Market is witnessing a strong boom globally, owing to the rising consumption of engineered quartz in residential and commercial construction projects. The market was valued at around USD 25.08 billion in 2023 and is expected to reach USD 36.72 billion by 2030, growing at a CAGR of 5.6% during the forecast period.

Key Market Drivers:

Durability/aesthetic appeal: It has become a popular choice for countertops because of the durability and wide range of colors available.

Booming Construction Industry: The booming construction industry, especially in the residential and commercial sectors, has further driven the demand for engineered quartz surfaces. The U.S. construction sector, for example, has expanded rapidly, and residential construction has grown at a steady pace.

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Regional Insights:

North America: The U.S. engineered quartz surface market was valuation at USD 6.4 Bn in 2019 and is expected to expand at a CAGR of over 4% in terms of volume during the forecast period. The increase is mainly due to the country's booming construction industry and growing popularity of engineered quartz-based residential applications.

Asia-Pacific accounted for the largest share of the engineered quartz surface market in 2019, with a 24.32% market share, with rapid urbanization and a boom in the construction industry boosting the market.

Product Segmentation:

Press Molding Quartz : By 2030, this segment will continue to lead the market in share. Traditional quartz countertops have been a prominent choice for consumers, both for residential and commercial use, due to their versatility and economically viable nature.

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Challenges:

Environmental Disadvantages: The manufacturing of engineered quartz surfaces can release volatile organic compounds (VOCs), which may cause health problems and health issues. The presence of pooling in the resin etc., may damage the aesthetic quality of the surfaces, thereby exerting an adverse impact on the demand for the products.

Future Outlook:

The market for engineered quartz surfaces is expected to see consistent growth, fueled by continuing innovations in the construction sector and customer preference fort resistant, low-maintenance products. Ongoing innovation and responsiveness to environmental issues would be critical for sustaining market growth.

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Conclusion

With the shift to electrification and renewable energy storage, the global lithium-ion battery market is spearheading technological innovation. Lithium ion battery manufacturers will be cornering the highest percentage of share in this market as democracies around the globe forge ahead in investing in energy solutions with car manufacturers and governments alike.

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