Abstract
Demand to reach 760 million square feet in 2013
Demand for countertops is forecast to increase 2.4 percent annually to 760
million square feet in 2013. Demand growth will accelerate from the pace of
the 2003-2008 period, as a rebound in housing construction from the depressed
2008 level will promote demand gains. While the residential remodeling segment
will post below-average advances in demand through 2013, the large stock of
homes requiring countertop replacement, as well as the desire of consumers to
renovate their kitchens and bathrooms by adding countertop space and
installing value-added materials, will support demand.
In value terms, demand for countertops is expected to advance 4.7 percent per
year to $19.7 billion in 2013. Value gains will be promoted by the growing
market penetration of high value countertop materials, primarily natural and
engineered stone. Consumers view countertops made from these materials as
aesthetically pleasing products that add to the value of a home. Value gains
will also be spurred by rising volume gains, as consumers install larger-sized
countertops in their homes.
Engineered, natural stone countertops to lead gains
Countertops made from engineered and natural stone will experience the
strongest gains through 2013. Consumers view these materials as durable,
aesthetically pleasing surfaces that are highly resistant to scratches and
extreme temperatures. Demand for engineered stone will benefit from its
resistance to biological contaminants and its resemblance to natural stone,
while remaining impervious to moisture. Demand for natural stone will be aided
by consumer interest in the style and luxury that granite and other stones
offer. More homeowners will be willing to pay for these more expensive
materials to achieve a desired look in their homes. Laminate countertops will
continue to account for the largest share of countertop sales. Growth will be
constrained, however, by the rise of engineered and natural stone, as some
consumers find laminates to be a low-end surfacing choice.
Institutional segment to offer best nonresidential market prospects
The nonresidential market is forecast to contract through 2013, as decreases
in nonresidential construction spending will limit overall countertops demand.
Best prospects for growth in the nonresidential countertop market will be the
institutional segment, as medical and educational facilities install
countertops in patient rooms, classrooms and food service areas. Demand for
countertops in nonbuilding construction applications is forecast to rise,
spurred by rebounding shipments of recreational boats and vehicles, which
often have countertops.
Kitchen countertops to advance at most rapid pace
Among the different applications, kitchen countertops demand will advance at
the most rapid pace through 2013, reflecting heightened consumer interest in
making the kitchen the centerpiece of the home for cooking and preparing meals
and entertaining family and friends. Homeowners will continue to renovate and
expand their kitchens, which will in turn promote countertop gains. Demand for
bathroom and other countertops will advance at a less rapid pace, reflecting
the smaller amount of square footage in the home devoted to bathrooms, laundry
rooms and home theaters.
Study coverage
Countertops, a new Freedonia industry study, presents historical demand data
(1998, 2003 and 2008) plus forecasts for 2013 and 2018 by surface material,
product, market and region. The study also considers market environment
factors, evaluates company market share and profiles US industry competitors.
| 
View Cart
