CLEVELAND, OH — U.S. demand for countertops, driven largely by single-family kitchen and bathroom remodeling trends, is forecast to rise 4.4% per year to 1.1 billion sq. ft., valued at $56.8 billion, by 2026, a major new market study predicts.
According to a market analysis by The Freedonia Group, a Cleveland, OH-based market research firm, increasing residential kitchen and bathroom remodeling, as well as consumer willingness to trade up to more expensive materials such as granite and engineered stone, will account for much of the projected growth in countertops.
The Freedonia Group also pointed to trends favoring larger kitchens and multiple bathrooms; increasing interest in outdoor kitchens, islands and wet bars; and elevated housing construction and construction of commercial structures, including office, hotels and retail buildings, and institutional buildings such as airport and bus terminals, civic centers, post offices and recreational buildings.
“The relative ease of countertop replacement, combined with wood shortages, provided a boost to the countertop market even during the COVID pandemic, as housing completions significantly accelerated in 2021, and heightened levels of home improvement activity from 2020 have continued through 2022,” The Freedonia Group said.
“Increasing demand for kitchen countertops will stem from design trends that call for new houses to have larger kitchens in order to increase eating space and facilitate the preparation and cooking of meals, which will lead to increased surface area for countertops, as well as tops for islands, cutting and preparation stations, and built-in dining spaces,” the research firm observed.
“Demand for bathroom countertops will be supported by style trends calling for more and larger bathrooms in the residential segment (and) rising remodeling activity in the bathroom-intensive commercial market,” researchers added.
The Freedonia Group also noted that, similar to the rapid advances seen for engineered stone during the past decade, porcelain slab is expected to be the fastest growing countertop material in the U.S. through 2026.
Other research findings include:
n Porcelain slab is rapidly rising in popularity “as consumers seek alternatives to engineered stone and granite.”
n Laminates are expected to continue their long-term decline following years of market dominance, “due to the rising popularity of more durable surfaces such as engineered and natural stone.”
n Rapid market share gains are expected for engineered stone, “as the material becomes more widely available and favored for its durability and aesthetics.”
n Granite will continue to find major use in both kitchen and bathroom countertops.