Artificial Stone Sinks Market
Artificial Stone Sinks Market Forecasts to 2030 - Global Analysis By Product (Marble, Granite and Other Products), Application (Kitchen Sinks, Bathroom Sinks and Other Applications) and By Geography
According to Stratistics MRC, the Global Artificial Stone Sinks Market is accounted for $5.87 billion in 2023 and is expected to reach $9.11 billion by 2030 growing at a CAGR of 6.5% during the forecast period. The manufacturing, distribution, and retail of sinks produced from man-made or engineered stone materials is referred to as the artificial stone sinks market. Engineered stone, composite stone, and artificial stone are all man-made materials produced from natural stone aggregates, resins, and pigments. With features including durability, stain resistance, ease of cleaning, and an attractive appearance, these sinks are intended for use in kitchens and bathrooms.
Market Dynamics:
Driver:
The preference of consumers for modern design
A growing number of homeowners and interior designers are attracted to modern and sleek appearances as interior design trends change. These preferences are effectively met by artificial stone sinks, which provide sleek lines, a seamless look, and a variety of color and treatment options that coordinate well with contemporary living areas. These sinks add a touch of elegance and sophistication to spaces with open-concept kitchens, bathrooms, and minimalist designs. To further increase their appeal, imitation stone sinks frequently include cutting-edge elements like under-mount and vessel designs.
Restraint:
Sustainability concerns
Although artificial stone sinks have a number of advantages, including toughness and design versatility, their manufacture includes the use of resins and chemicals, which could cause environmental concerns. Ecological effects may result from the extraction, processing, and curing of the raw materials used to make the composite of counterfeit stone. Concerns regarding artificial stone sink disposal and end-of-life management, specifically regarding their biodegradability and recyclability, further add to sustainability issues.
Opportunity:
Ease of maintenance
These sinks are prized for their smooth, easy-to-clean texture and non-porous surface that repels stains. Artificial stone sinks are a popular option for both busy homes and business settings due to their low maintenance requirements. Such sinks may be swiftly cleaned with minimal effort, avoiding the accumulation of dirt, mold, and bacteria. For customers looking for a hassle-free and hygienic solution in kitchens and bathrooms, the ease with which they can maintain their appearance and hygiene is a significant advantage.
Threat:
High initial cost
Although artificial stone sinks are well known for their low maintenance requirements, strength, and attractive appearance, these advantages are frequently associated with a higher cost. Artificial stone sinks can be significantly more expensive to buy and install initially than sinks made of more conventional materials, such as porcelain or stainless steel. Particularly for individuals with limited funds or companies starting expensive initiatives, this price gap may be a turnoff. The greater up-front cost of an artificial stone sink may have an impact on project budgets as a whole, maybe leading to a choice of more affordable options.
Covid-19 Impact:
The market for artificial stone sinks was significantly impacted by the COVID-19 outbreak. A delay in construction and remodeling activity resulted from the early lockdowns, supply chain disruptions, and economic uncertainty. During the pandemic, consumers placed a greater priority on their health and safety than on home renovations. In a time of economic uncertainty, several consumers choose less expensive options due to the higher upfront cost of artificial stone sinks. In addition, delays in worldwide shipping and manufacturing impacted production and delivery schedules by delaying the supply of materials and products.
The marble segment is expected to be the largest during the forecast period
Marble segment is expected to be the largest during the forecast period. The market for artificial stone sinks has a category called ""marble,"" which deals with sinks that mimic the beauty and appearance of real marble. These sinks provide a luxurious and classic aesthetic that is evocative of real marble but has the advantages of man-made stone materials, such as enhanced durability, simpler maintenance, and a more affordable price range than sinks made of real marble. Additionally, in the marble section, artificial stone sinks are available in a range of colors and patterns that replicate the veining and textures of real marble. Customers are able to achieve a high-end, traditional look in their kitchens and bathrooms without having to deal with the difficulties and maintenance required for genuine marble.
The bathroom sinks segment is expected to have the highest CAGR during the forecast period
Bathroom Sinks segment is expected to have the highest CAGR during the forecast period. Sinks made especially for use in bathrooms are the main focus of the artificial stone sinks market's bathroom sinks sector. These sinks are made of man-made or engineered stone and are specially designed to fit the requirements and aesthetics of bathroom spaces. Moreover, bathroom sinks made of artificial stone come in a broad variety of shapes, sizes, and configurations, such as vessel sinks, under-mount sinks, and top-mount sinks, giving homeowners and interior designers a wide range of design options. These sinks are well-known for their easy maintenance, stain and bacterial growth resistance, and non-porous surfaces.
Region with largest share:
Asia Pacific region is expected to hold largest share over the forecast period. The demand for fixtures like artificial stone sinks in residential and commercial buildings is being driven by the powerful construction and urbanization trends that the Asia-Pacific area is witnessing. Furthermore, the demand for premium, visually beautiful home interiors is rising due to the developing middle class in nations like China and India, which has raised disposable income and stimulated the market for artificial stone sinks.
Region with highest CAGR:
Asia Pacific is projected to witness lucrative growth over the forecast period. As awareness of the environment grows, customers in the Asia-Pacific area are increasingly looking for environmentally friendly and sustainable products. In reaction, a few producers are entering the artificial stone sink industry with more ecologically friendly solutions. Moreover, numerous manufacturers of artificial stone sinks have their manufacturing facilities in this area, which results in low pricing and an extensive selection of products.
Key players in the market
Some of the key players in Artificial Stone Sinks market include Aquabrass, Blanco, Duravit, Elkay, Kingkonree International China Surface Industrial Co., Ltd, MR Direct and VIGO Industries.
Key Developments:
In October 2023, DuroCast by Duravit, produced by mineral casting, combines outstanding material properties with superlative design. It is available in Four variants: DuroCast Plus, UltraResist, Smooth and Nature.
In August 2023, Zurn Elkay Water Solutions announced it is the official Water Solutions Sponsor for University of Southern California (USC) athletics. As the USC Trojans Water Solutions Sponsor, Zurn Elkay will be bringing cleaner water to students, fans, visitors, and faculty, as well as supporting the university’s overall sustainability efforts.
Products Covered:
• Marble
• Granite
• Other Products
Applications Covered:
• Kitchen Sinks
• Bathroom Sinks
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Artificial Stone Sinks Market, By Product
5.1 Introduction
5.2 Marble
5.3 Granite
5.4 Other Products
6 Global Artificial Stone Sinks Market, By Application
6.1 Introduction
6.2 Kitchen Sinks
6.3 Bathroom Sinks
6.4 Other Applications
7 Global Artificial Stone Sinks Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Aquabrass
9.2 Blanco
9.3 Duravit
9.4 Elkay
9.5 Kingkonree International China Surface Industrial Co., Ltd
9.6 MR Direct
9.7 VIGO Industries
List of Tables
1 Global Artificial Stone Sinks Market Outlook, By Region (2021-2030) ($MN)
2 Global Artificial Stone Sinks Market Outlook, By Product (2021-2030) ($MN)
3 Global Artificial Stone Sinks Market Outlook, By Marble (2021-2030) ($MN)
4 Global Artificial Stone Sinks Market Outlook, By Granite (2021-2030) ($MN)
5 Global Artificial Stone Sinks Market Outlook, By Other Products (2021-2030) ($MN)
6 Global Artificial Stone Sinks Market Outlook, By Application (2021-2030) ($MN)
7 Global Artificial Stone Sinks Market Outlook, By Kitchen Sinks (2021-2030) ($MN)
8 Global Artificial Stone Sinks Market Outlook, By Bathroom Sinks (2021-2030) ($MN)
9 Global Artificial Stone Sinks Market Outlook, By Other Applications (2021-2030) ($MN)
10 North America Artificial Stone Sinks Market Outlook, By Country (2021-2030) ($MN)
11 North America Artificial Stone Sinks Market Outlook, By Product (2021-2030) ($MN)
12 North America Artificial Stone Sinks Market Outlook, By Marble (2021-2030) ($MN)
13 North America Artificial Stone Sinks Market Outlook, By Granite (2021-2030) ($MN)
14 North America Artificial Stone Sinks Market Outlook, By Other Products (2021-2030) ($MN)
15 North America Artificial Stone Sinks Market Outlook, By Application (2021-2030) ($MN)
16 North America Artificial Stone Sinks Market Outlook, By Kitchen Sinks (2021-2030) ($MN)
17 North America Artificial Stone Sinks Market Outlook, By Bathroom Sinks (2021-2030) ($MN)
18 North America Artificial Stone Sinks Market Outlook, By Other Applications (2021-2030) ($MN)
19 Europe Artificial Stone Sinks Market Outlook, By Country (2021-2030) ($MN)
20 Europe Artificial Stone Sinks Market Outlook, By Product (2021-2030) ($MN)
21 Europe Artificial Stone Sinks Market Outlook, By Marble (2021-2030) ($MN)
22 Europe Artificial Stone Sinks Market Outlook, By Granite (2021-2030) ($MN)
23 Europe Artificial Stone Sinks Market Outlook, By Other Products (2021-2030) ($MN)
24 Europe Artificial Stone Sinks Market Outlook, By Application (2021-2030) ($MN)
25 Europe Artificial Stone Sinks Market Outlook, By Kitchen Sinks (2021-2030) ($MN)
26 Europe Artificial Stone Sinks Market Outlook, By Bathroom Sinks (2021-2030) ($MN)
27 Europe Artificial Stone Sinks Market Outlook, By Other Applications (2021-2030) ($MN)
28 Asia Pacific Artificial Stone Sinks Market Outlook, By Country (2021-2030) ($MN)
29 Asia Pacific Artificial Stone Sinks Market Outlook, By Product (2021-2030) ($MN)
30 Asia Pacific Artificial Stone Sinks Market Outlook, By Marble (2021-2030) ($MN)
31 Asia Pacific Artificial Stone Sinks Market Outlook, By Granite (2021-2030) ($MN)
32 Asia Pacific Artificial Stone Sinks Market Outlook, By Other Products (2021-2030) ($MN)
33 Asia Pacific Artificial Stone Sinks Market Outlook, By Application (2021-2030) ($MN)
34 Asia Pacific Artificial Stone Sinks Market Outlook, By Kitchen Sinks (2021-2030) ($MN)
35 Asia Pacific Artificial Stone Sinks Market Outlook, By Bathroom Sinks (2021-2030) ($MN)
36 Asia Pacific Artificial Stone Sinks Market Outlook, By Other Applications (2021-2030) ($MN)
37 South America Artificial Stone Sinks Market Outlook, By Country (2021-2030) ($MN)
38 South America Artificial Stone Sinks Market Outlook, By Product (2021-2030) ($MN)
39 South America Artificial Stone Sinks Market Outlook, By Marble (2021-2030) ($MN)
40 South America Artificial Stone Sinks Market Outlook, By Granite (2021-2030) ($MN)
41 South America Artificial Stone Sinks Market Outlook, By Other Products (2021-2030) ($MN)
42 South America Artificial Stone Sinks Market Outlook, By Application (2021-2030) ($MN)
43 South America Artificial Stone Sinks Market Outlook, By Kitchen Sinks (2021-2030) ($MN)
44 South America Artificial Stone Sinks Market Outlook, By Bathroom Sinks (2021-2030) ($MN)
45 South America Artificial Stone Sinks Market Outlook, By Other Applications (2021-2030) ($MN)
46 Middle East & Africa Artificial Stone Sinks Market Outlook, By Country (2021-2030) ($MN)
47 Middle East & Africa Artificial Stone Sinks Market Outlook, By Product (2021-2030) ($MN)
48 Middle East & Africa Artificial Stone Sinks Market Outlook, By Marble (2021-2030) ($MN)
49 Middle East & Africa Artificial Stone Sinks Market Outlook, By Granite (2021-2030) ($MN)
50 Middle East & Africa Artificial Stone Sinks Market Outlook, By Other Products (2021-2030) ($MN)
51 Middle East & Africa Artificial Stone Sinks Market Outlook, By Application (2021-2030) ($MN)
52 Middle East & Africa Artificial Stone Sinks Market Outlook, By Kitchen Sinks (2021-2030) ($MN)
53 Middle East & Africa Artificial Stone Sinks Market Outlook, By Bathroom Sinks (2021-2030) ($MN)
54 Middle East & Africa Artificial Stone Sinks Market Outlook, By Other Applications (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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