Abstract
US demand to grow 2.8% annually through 2013
US demand for hard surface flooring is projected to increase 2.8 percent
annually from a weak 2008 base to 7.6 billion square feet in 2013. This
represents a considerable improvement over the performance of the 2003-2008
time frame, when consumption contracted as a direct result of the collapse of
the US new housing market.
Vinyl to remain dominant
Vinyl flooring will continue to be the largest volume hard surface flooring
product in use. Although vinyl will continue to lose market share to other
hard surface flooring materials, its low cost, durability and wide acceptance
in all market segments will ensure its continued leading market position.
Demand will also benefit from the development of new products, such as
fiberglass backed sheet goods, and from the long-anticipated recovery of the
manufactured housing segment, a significant contributor to vinyl flooring
demand.
Ceramic tile is also a major contributor to hard surface flooring demand.
While expensive, ceramic tile flooring is extremely durable and offers
numerous aesthetic, maintenance and styling advantages that permit these
materials to maintain a significant share of the market. Gains will be
concentrated in new home construction applications.
Niche products such as wood, laminate and bamboo flooring will all post above
average growth through 2013, increasing their shares of the overall market. In
particular, laminate flooring has shown strong growth over the last ten years,
as the “floating floor” technology gained a significant beachhead
in the US market. Nevertheless, the rising tide of laminate flooring growth
may have crested, and opportunities are expected to be much less favorable
through 2013. Wood flooring will post above average gains, moderated slightly
by the comparative high cost of these materials. Bamboo flooring will advance
rapidly from a very small 2008 base.
Growth in new residential construction to spur gains
New residential construction will be the primary engine of growth for hard
surface flooring products, as this important market segment recovers from the
very weak levels of 2008. Overall, new residential construction accounts for
about one-fifth of total hard surface flooring demand. The residential
improvement and repair market will continue to be the dominant market segment,
accounting for nearly 40 percent of demand, but will offer more muted growth
prospects.
Study coverage
This new Freedonia industry study, Hard Surface Flooring, presents historical
demand data (1998, 2003 and 2008) plus forecasts for 2013 and 2018 by product
and market. The study also assesses market environment factors, evaluates
company market shares and profiles 34 industry competitors.
Freedonia' s methods involve:
- Establishing consistent economic and market forecasts
- Using input/output ratios, flow charts and other economic methods to
quantify data
- Employing in-house analysts who meet stringent quality standards
- Interviewing key industry participants, experts and end users
- Researching a proprietary database that includes trade publications,
government reports and corporate literature
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