Corian Acrylic Solid Surface Market Size, Share, Growth and Industry Analysis, By Type (Casting Molding Solid Surface and Extrusion Molding Solid Surface), By Application (Hospitals, Hotels, Private Households and Others) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Corian Acrylic Solid Surface Market Report Overview

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The global corian acrylic solid surface market size was USD 237.4 million in 2022 and is projected to touch USD 3236.46 million by 2031, exhibiting a CAGR of 3.5% during the forecast period.

The spike in CAGR is attributable to corian acrylic solid surface market growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering; with the corian acrylic solid surface market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Corian is a brand name for solid surface countertops, while acrylic solid surface is a man-made nonporous, hard, homogenous surfacing material. Acrylic particles, bauxite, epoxy or polyester resins, marble, and colors are the key ingredients of acrylic solid surface. It frequently works well in complex fabrication tasks like thermoforming. It was authorized for seamless countertops, vanities, lab benches, kitchen sinks, and vanity basins in a number of different businesses, including healthcare, accommodation, shops, banks, and restaurants. It comes in countless color combinations and aesthetic effects, including solid colors, marbleized effects, glittering effects, and granite effects. The main advantages are that they are stain resistant, long-lasting, and simple to maintain. They also come in a variety of patterns, designs, and colors.

COVID-19 Impact: Rapid Spread of the Virus Forced Manufacturers to Temporarily Halt their Operations

The rapid spread of the coronavirus has a negative impact on the corian acrylic solid surface market. Due to the protracted lockdown and the rapid spread of the coronavirus around the world, several businesses and manufacturing sectors were forced to temporarily halt operations. Multiple manufacturing sectors were impacted by the broken supply chain. Producers of corian acrylic solid surface are working on product advancements as the lockdown measures are being relaxed in order to establish their presence in the worldwide market due to the growing uses in the residential, commercial, and infrastructure development sectors.

LATEST TRENDS

"Inclusion of High-Level Beauty by the Addition of New Shades to Give Surfaces a more Modern Appearance"

CDUK has unveiled the new Corian color palette as the sole supplier of Corian Solid Surface in the UK and Ireland. Eight new hues are added to the existing palette by the collection. The new Corian collection was created to include high-level beauty into the current Corian collection. It has new textures and natural, subdued tones that give it a more modern appearance.

Corian Acrylic Solid Surface Market Segmentation

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• By Type

Based on type, the market is distributed into Casting Molding Solid Surface and Extrusion Molding Solid Surface

• By Application

Based on application, the market is divided into Hospitals, Hotels, Private Households and Others.

DRIVING FACTORS

"Growing Uses of these Solid Surfaces for their Properties Allows Them to be Employed in Hotels and Restaurants"

An important factor that is anticipated to support the growth of the acrylic solid surface sector is the rise in the number of hotels, bars, and restaurants that primarily use corian acrylic solid surfaces for countertops, wall external cladding, furniture, outer facades, and other uses. It is anticipated that the abundance of these corian acrylic solid surfaces in an array of shades, shapes, and sizes to match the themes, along with the growing emphasis of the hospitality industry on preserving appealing aesthetics both within and around establishments, will support market growth.

"Cost-Effective Alternative to Genuine Stone Surfaces as they Offer the Same Realistic Stone Effect "

To replace genuine stone surfaces like granite and quartz-marble countertops, Corian acrylic solid surfaces are an excellent option because of their durability and cost. A wide variety of colors, from straightforward solids to realistic stone effects, are available in corian acrylic solid surfaces, especially those with strong translucency. These solid surfaces frequently prove to be a more cost-effective option with great value.

RESTRAINING FACTORS

"Multiple Disadvantages Associated with Using this Solid Surfaces can Restrict the Market Expansion"

Corian acrylic solid surfaces, despite having a number of advantages, are not heat-resistant, are not tolerant of high temperatures, and eventually become discolored, scorched, or even break when in touch with hot objects. While the scorched marks can be removed with sandpaper, the discoloration might still be present. Additionally, a few strong chemicals, such as nail polish removers, nail paints, and acids that can corrode the solid surface of kitchen countertops, are not resistant to acrylic solid surfaces. These are some of the factors that have somewhat restrained the corian acrylic solid surface market growth.

Corian Acrylic Solid Surface Market Regional Insights

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"Increase in Manufacturing and R&D Creations to Drive the Growth of the Market in the Asia Pacific Region"

The Asia Pacific region is anticipated to hold the greatest corian acrylic solid surface market share throughout the anticipated time frame. A significant share is due to an increase in global manufacturing as well as an increase in construction projects, particularly in China and India. In addition, the region is seeing an increase in research and development related to the creation of corian acrylic solid surfaces.

KEY INDUSTRY PLAYERS

"Investments in R&D and Introduction of Products are Methods Adopted by the Major Player to Broaden their Market Shares"

The producers of acrylic solid surfaces are concentrating on investing in R&D, mergers, joint ventures, and working with local industry leaders to get larger market shares. In addition to this, they are introducing innovative products to appeal to a wider range of customers. In addition to this, they are employing a number of other growth strategies to keep one step ahead of their rivals.

List of Market Players Profiled

• DuPont (U.S.)
• Lion Chemtech (South Korea)
• LG Hausys (South Korea)
• Lottechem (South Korea)
• Hanwha (Spain)
• DURASEIN (U.S.)
• ARISTECH SURFACES (U.S.)
• Swan (France)
• Wilsonart (U.S.)
• Gelandi (China)
• KingKonree International (China)
• SYSTEMPOOL (Spain)

REPORT COVERAGE

This report covers the corian acrylic solid surface market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.