- November 20, 2022
- 0
- Quartz
Quartz Countertop Cost Expectations To Consider in 2023?
According to a projection made by The Freedonia Group, the market for kitchen countertop is anticipated to expand by 2.6% per year, bringing the total to 540 million square meters in demand. However, high-end items like Granite and engineered quartz are also likely to represent a considerable market demand. However, standard materials like solid surfaces and laminate are expected to continue to be the most extensively utilized materials for countertops or white kitchen top installations.
According to projections made by a research organization in Cleveland, the market share of engineered quartz for modular kitchen is expected to expand over the next four years, mainly at the cost of Granite. For a very long time, Granite has been regarded as a material that is both aesthetically beautiful and has great performance attributes. Due to its high price point, Granite has been the material of choice for premium applications. According to The Freedonia Group, engineered quartz has started to erode the market size of Granite since it delivers durability and aesthetic appeal at a cheaper price range than Granite does. In addition, it uses natural cristostone aggregates and resins in the production of engineered quartz resulting in the latest kitchen design in the material having a greater availability than Granite.
The continuing trade dispute between the United States and China has the potential to dampen demand for engineered quartz in the market in the United States. The Freedonia Group anticipates that the market demand for engineered quartz in the United States will remain strong. However, the tariffs of nearly 300% on Chinese-engineered quartz may reduce the availability of some designs and colours in the United States, increase the number of quartz slab imports from other countries, and allow other materials, such as stainless steel, to gain market share.
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