Countertop demand to grow 4.2% per year

World demand for countertops is projected to rise at a steady clip through 2018, according to a new report from The Freedonia Group.

In "World Countertops," The Freedonia Group pegs global countertop demand at 503 million square meters in 2018, which indicates a growth rate of 4.2% per year.

Much of this demand is predicated on an increase in construction activity throughout the world, as well as efforts to modernize in developing regions.

Depending on where one is in the world, there are also differences in popularity between types of surfaces.

Laminates accounted for nearly half of U.S. countertops in 2013, for example, though they only made up 2% of countertop surfaces in China. Instead, solid surface materials made up 40% of the demand there.

The Asia/Pacific region was also the largest market for countertops in general in 2013, accounting for 47% of global demand. Here is where the fastest gains are expected.

"This region is generally an immature market in which freestanding furniture, pedestal sinks, and other low-cost alternatives are more common than conventional countertops," explained The Freedonia Group in a statement. 

North America followed behind as the second largest regional market, where gains are occurring thanks to the housing recovery.