Demand for residential kitchen and bath countertops in China is forecast to increase 7.3 percent annually to 92.2 million square meters in 2010, valued at ¥26.7 billion. Advances will be driven by continued strong growth in new housing completions and kitchen and bath remodeling expenditures. The ongoing trend toward larger kitchens and more bathrooms in new construction will further contribute to gains.
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Additional Information
Solid surface, engineered stone to grow the fastest
The big story in the countertop industry has been the meteoric rise of solid surface as the material of choice in China. In 2000, solid surface materials represented only three percent of all newly installed residential countertops. By 2010, demand for solid surface countertops will exceed 45 million square meters, accounting for nearly half the total. Gains for solid surface countertops will be fueled by declining prices coupled with the material’s durability, renewability, attractive appearance and minimal maintenance. Demand for engineered stone, another newly introduced and fast growing countertop material, will grow to 2.7 million square meters in 2010, valued at ¥2.2 billion. Although still a relatively expensive material, prices for engineered stone are dropping quickly, making it attractive to many Chinese consumers.
Other major material segments are expected to experience sluggish growth. In volume terms, natural stone, the second largest segment, will advance less than two percent per year and laminates will grow less than three percent per year. Demand for tile will remain flat at 14 million square meters. All of these materials will lose market share to the more popular solid surface and engineered stone materials.
Remodeling market to outpace new housing segment
Most countertops are installed in connection with the construction of new housing, with this market segment accounting for over 70 percent of volume in 2005. However, demand will continue to grow faster in the remodeling market, advancing more than ten percent per year and exceeding 30 million square meters in 2010. Gains will be driven by consumer interest in upgrading older tile, natural stone and laminate countertops with longer lasting, higher value-added materials such as solid surface and engineered stone. Kitchen countertops will increase their share of the market by 2010, benefitting from ongoing consumer interest in larger kitchens with more counter space. Bathroom countertops will be limited by the increasing popularity of pedestal sinks, which do not have countertops.
Study coverage
This new 245-page Freedonia industry study, Residential Kitchen & Bath Countertops in China, is available for $4900. It presents historical demand data through 2005 and forecasts to 2010 and 2015 by countertop material, product, market and region. The study also considers market environment factors, evaluates company market share and profiles major players.
Table of Contents
INTRODUCTION
I. EXECUTIVE SUMMARY
II. MARKET ENVIRONMENT
General
Macroeconomic Environment
Demographic Overview
Population
Urbanization
Households
Residential Building Construction
New Housing Units
Single-Family
Multiple Family
Improvements & Repairs
Housing Stock
Living Space
Consumer Trends
Personal Income & Expenditures
Consumer Financing
Regulatory Considerations
Pricing Trends
World Market
Asia/Pacific
North America
Western Europe
Rest of World
Foreign Trade
III. SURFACE MATERIALS
General
Value Outlook
Volume Outlook
Installation Costs
Solid Surface
Characteristics
Suppliers & Fabricators
Natural Stone
Granite
Marble & Others
Tile
Porcelain
Ceramic & Other
Laminates
Characteristics
Suppliers & Fabricators
Engineered Stone
Characteristics
Suppliers & Fabricators
Other Materials
Stainless Steel
Fiberglass
Wood
Other
IV. PRODUCTS
General
Value Outlook
Volume Outlook
Kitchen Countertops
New Housing
Remodeling
Bathroom Countertops
New Housing
Remodeling
V. MARKETS
General
New Construction
Single Family
Multiple Family
Remodeling
Single Family
Multiple Family
VI. REGIONAL TRENDS
General
Regional Demographic & Economic Trends
Population Patterns
Economic Outlook
Residential Construction Expenditures
Consumer Trends
Regional Demand for Countertops
Central-North
Overview
Countertop Demand
Northeast
Overview
Countertop Demand
Central-East
Overview
Countertop Demand
Central-South
Overview
Countertop Demand
Southwest
Overview
Countertop Demand
Northwest
Overview
Countertop Demand
VII. INDUSTRY STRUCTURE
General
Industry Composition & Market Share
Solid Surface
Natural Stone
Tile
Laminates
Engineered Stone
Other
Competitive Strategies
Research & Development
Manufacturing
Distribution
Marketing
Mergers & Acquisition
Cooperative Agreements
Foreign Participation in China
Legal & Regulatory Issues
Wholly Owned Foreign Enterprises
Joint Venture
Representative Offices
Company Profiles
Beijing Kebao & Boloni Kitchen & Bathroom Furniture
Company Limited
Beijing Kangjie Home Furniture Company Limited
Best Cheer Stone Group Holding Company
Cheil Industries Incorporated
Cosentino SA
DuPont (EI) de Nemours
Eagle Brand Holdings Limited
Formica Corporation
Foshan Shunde Bestone Artificial Stone Products
Company Limited
Fritz Egger GmbH & Company
Fuyun Compound Stone Company Limited
Guangdong Dongpeng Ceramic Company Limited
Guangdong Fotao Group Corporation Limited
Guangdong Newpearl Ceramics Group
Guangzhou Panyu Huaxun Industry Company Limited
Guangzhou Relang Industrial Company Limited
Guangzhou Sunmoon Appliances Decoration Material
Company Limited
GZ European Kitchen Enterprise Company Limited
Haier Group Company
Illinois Tool Works Incorporated
Jilin Forest Industry Company Limited
Jinjiang Huabao Stone Company Limited
Kangli Stone Group
Kuraray Company Limited
LG Chem Limited
Linfair Garostone Company Limited
New Zhong Yuan Ceramics Company Limited
Opal Industrial Company Limited
Rongguan Glass Material for Building Company Limited
Samsung Chemical Material Trading Shanghai Company
Limited, see Cheil Industries Incorporated
Shandong Guanlu Building Materials Industry Group
Shanghai Formica Decorative Material Company Limited,
see Formica Corporation
Shanghai Jiashi Wood Company Limited
Taxing Group
Universal Marble & Granite Group Limited
Wilsonart Shanghai Company Limited, see
Illinois Tool Works Incorporated
Wuxi Meganite Building Material Company Limited
Xiamen Prime Stone Company Limited
Xiamen Wanli Stone Products Company Limited
Xinjiang Guanghui Industry Company Limited
Xishi Group Development Company Limited
Other Companies Mentioned in Study
LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY
Summary Table
SECTION II -- MARKET ENVIRONMENT
1 Gross Domestic Product of China
2 Population of China
3 Households in China by Region
4 Residential Building Construction Expenditures in China
5 New Housing Construction in China
6 Residential Building Improvement & Repair Expenditures in China
7 Housing Stock in China by Type & Ownership
8 Personal Income & Expenditures in China
9 Consumer Financing Environment in China, 1995-2005
10 Countertop Pricing Trends in China
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