Summary
Taken for granite: High interest rates at the onset of the outlook period are expected to hinder industry growth
Abstract
Countertop Manufacturing in the US
Countertops manufacturers enjoyed strong growth in the residential construction market over the current period. Stiff price-based competition from foreign lost-cost manufacturers, compounded by high internal competition in local markets, hindered profit growth for manufacturers. Consumer preferences favoring wooden countertops bolstered manufacturers. Industry-wide revenue has been growing at a CAGR of 2.8% over the past five years and is expected to total $2.5 billion in 2023, when revenue is projected to jump an estimated 6.8%.
This industry primarily cuts, shapes and finishes countertops for kitchens and bathrooms. These countertops are primarily made out of wood and plastic laminates. The industry does not include countertops constructed on-site by building contractors.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
