Pune, Maharashtra Apr 18, 2020 (Issuewire.com) - Global kitchen countertop market is expected to grow US$ 135.47 Bn by 2025 at a CAGR of 4.9%.
The latest Plastic Kitchen Countertop market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study offers a thorough analysis of the key persuading factors, market figures in terms of revenues, segmental data, regional data, and country-wise data. This study can be described as the most wide-ranging documentation that comprises all the aspects of the evolving Plastic Kitchen Countertop market.
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The burgeoning population rate in the developed countries, as well as the developing regions, is boosting the residential infrastructures, thereby, fueling the demand for kitchen countertop in the current market scenario. The growth of commercial infrastructures like hotels is majorly due to increasing tourism across the globe. Moreover, the developing countries in the Asia Pacific and Middle East such as China, India, Singapore, Malaysia, UAE, and Saudi Arabia among others are witnessing significant growth in business from several international organizations. This has propelled the growth of construction of hotels, which invest decent revenue shares in kitchen aesthetics. Additionally, several multi-national hotel chains have found these countries to be prime regions for the development of their business and owing to this, the hotels have constructed their own hotel's building, creating a fair market space for kitchen countertops.
Countries in the Asia Pacific region have significantly invested in the construction industry, and are still continuing the trend which is catalyzing the infrastructure construction over the years. The increasing focus towards enhancement of new construction of commercial and residential buildings in the APAC region is driving the kitchen countertop market in the present scenario. Further, the high disposable income and easy availability of bank loans in the region is boosting the adoption of modern interior designing materials. This factor is also rising the adoption of kitchen countertop among the Asia Pacific population. Countries especially, China, India, Singapore, and Malaysia among others are experiencing significant growth of commercial building and residential sectors in the current scenario, which is helping the kitchen countertop market to surge in the recent times. Moreover, the renovation activities of residential and hotel & restaurant interiors are also bolstering the market, and this trend is expected to continue in the years to come, which is anticipated to catalyze the market growth
The major companies operating in the field of kitchen countertop market include Quarella, Cosentino S.A., Caeserstone Ltd., Laminam SpA, Pokarna Limited, Vicostone, Cambria Co., Aro Granite Industries Ltd., Asian Granito India Ltd., LG Hausys, Ltd., Neolith, Sapienstone, Florim Stone, Tile & Stone Works, and Strasser Stein among others.
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