Abstract
Demand to grow 7.3% annually through 2010
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.
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.
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