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Demand for countertops in the United States is expected to rise 3.8% annually through 2024, according to a new report from The Freedonia Group. The research organization reports demand in value terms is forecast to reach 932 million square feet and the countertop market valuation will reach $42 billion by 2024.

The countertop market will be benefited by an increase in kitchen and bathroom remodeling, during which consumers tend to be most willing to splurge on high-end materials such as granite, and an increase in residential housing completions and commercial building construction. Strength in residential kitchen and bath remodeling will be supported by the popularity of countertop- replacement home-improvement projects, according to The Freedonia Group. Market value gains will be bolstered by rising consumer interest in engineered stone, porcelain slab, and butcher-block countertops as homeowners look to trade up to more natural-looking, aesthetically pleasing surface materials.

The Cleveland-based research group projects that despite heavy tariffs and increasing worker health and safety concerns about silica dust during production, engineered stone will be the fastest growing countertop material through 2024. The material has made massive inroads since 2014 as the availability of low-cost materials in popular colors has increased.

Laminates, the leading U.S. countertop material for decades, is expected to continue to lose market share through 2024. The use of laminates will likely remain widespread due to low price points and low maintenance requirements, and many laminate countertop manufacturers have taken steps to remain competitive in the crowded market. Laminate manufacturers have begun expanding and diversifying their offerings of specialty and decorative laminates and moved into other material markets, according to The Freedonia Group.

The full study, Countertops, is available from The Freedonia Group for $5,600. The study analyzes the U.S. market for countertops by surface material, area of installation, market, application, and region.