US sales of residential kitchen and bathroom countertops are forecast to rise 1.3 percent per year in area terms to 540 million square feet by 2011, valued at the fabricator level at $14 billion. Demand for countertops will decelerate from the pace of the 2001 to 2006 period, as continued weakness in the new housing market will cause home builders to cut back on new home construction, thus limiting demand for countertops. Similarly, a slowdown in residential improvement expenditures will affect kitchen and bathroom remodeling activity, with some consumers delaying or modifying planned home renovations. However, kitchen and bathroom remodeling will remain the primary driver of growth in the industry, as homeowners expand their kitchens and bathrooms to make them the focal points of their homes. These larger kitchens and bathrooms have more space for countertops.
Natural, engineered stone to experience healthy gains
Demand for natural and engineered stone will experience healthy growth rates through 2011. Demand will be driven by high-end consumers, who increasingly want luxurious surfacing materials in their kitchens and bathrooms. Natural and engineered stone provide highly aesthetic and attractive options for homeowners, yet impart long-term durability, impact and stain resistance, and ease of maintenance properties. Moreover, as the price per square foot of these materials decline, more middle-income consumers will be able to install natural and engineered stone countertops, providing a further stimulus to demand. Laminates will account for more than one-half of all residential kitchen and bathroom countertop demand, in both value and area terms, despite declining demand by area. Laminate countertops are preferred by many customers due to their ease of installation and maintenance, low cost and availability in numerous colors, patterns and textures. However, laminate demand will suffer as consumers increasingly purchase more high-end materials, especially as those materials become less expensive.
Renovation market to offer best opportunities
The renovation market is projected to account for 74 percent of US residential kitchen and bathroom countertop demand by 2011. Demand for countertops in renovation applications is expected to grow, as interest in kitchen and bathroom renovations remains high. Homeowners will increasingly select countertops made from solid surfacing materials, natural and engineered stone, or specialty materials. These materials cost more than laminates, and will further spur value gains.
Kitchens to remain key segment over bathrooms
Kitchens will continue to account for the majority of demand for countertops. Kitchens are much larger than bathrooms, thus affording more space for countertops. Additionally, new homes and renovated homes are increasingly being built with larger kitchens, as these rooms become not only food storage and preparation centers, but family gathering and entertaining areas, as well as home offices. Homeowners will increase the amount of countertop space in their homes to maximize areas for socialization.
Study coverage
These and other findings are contained in Residential Kitchen & Bath Countertops, a new study available for $4500. It presents historical demand data for 1996, 2001 and 2006, as well as forecasts for 2011 and 2016 by material, product, market and US region. The study also considers market environment factors, evaluates company market shares and profiles 34 competitors in the US industry.
Tables of Contents
Introduction
Executive Summary
Market Environment
General
Macroeconomic Environment
Consumer Trends
Personal Income & Expenditures
Consumer Financing
Demographic Trends
Population
Households
Residential Building Construction
New Housing Units
Housing Stock
Improvements & Repairs
Regulatory Considerations
Pricing Trends
World Market
Western Europe
Asia/Pacific Region
Other Regions
Foreign Trade
Surface Materials
General
Value Outlook
Volume Outlook
Installation Costs
Laminates
Characteristics
Suppliers & Fabricators
Solid Surfacing Materials
Characteristics
Suppliers & Fabricators
Natural Stone
Granite
Characteristics
Fabricators
Other Stone
Marble
Limestone
Slate
Soapstone
Others
Engineered Stone
Characteristics
Suppliers & Fabricators
Tile
Ceramic
Porcelain
Other Tile
Miscellaneous Cast Polymers
Characteristics
Fabricators
Other Materials
Stainless Steel
Wood
Recycled Materials
All Other
Concrete
Miscellaneous Metals
Glass & Other Materials
Products
General
Value Outlook
Volume Outlook
Kitchen Countertops
New Housing
Remodeling
Bathroom Countertops
New Housing
Remodeling
Markets
General
New Housing
Single Unit
Multifamily
Manufactured Housing
Remodeling
Single Unit
Multifamily
Manufactured Housing
Regional Demand
General
Regional Demographic & Economic Trends
Population Patterns
Economic Outlook
Construction Activity
Housing Trends
Regional Demand for Countertops
Northeast
New England
Middle Atlantic
Midwest
East North Central
West North Central
South
South Atlantic
East South Central
West South Central
West
Mountain
Pacific
Industry Structure
General
Industry Composition & Market Share
Laminates
Solid Surfacing Materials
Natural Stone
Tile
Engineered Stone
Other Materials
Competitive Strategies
Research & Development
Manufacturing
Distribution
Marketing
Mergers & Acquisitions
Cooperative Agreements
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