Abstract
US demand to grow 4.3% per year through 2011
US demand for hard surface flooring is projected to advance 4.3 percent per
annum through 2011 to over 12 billion square feet. Hard surface flooring is
gaining market share over carpet and rugs, continuing a trend seen over the
past decade. This tendency is mostly driven by consumer preferences for
highend products such as laminate, ceramic tile and engineered wood flooring,
as well as increasing interest and popularity of natural and environmentally
friendly products such as bamboo, cork and linoleum flooring.
Product development and innovation in design and styling, in addition to
better production processes and new manufacturing technology, will expand hard
surface flooring demand by increasing the availability and range of products
on the market. Trends toward high-end, luxury products will help boost value
gains, although market maturity and growth in demand for lower-priced imports
will moderate price increases.
Laminate flooring to post the fastest gains
Through 2011, vinyl will continue to be the leading hard surface floor
covering, despite losing significant share to ceramic tile and laminate
flooring. Vinyl flooring will, however, continue to benefit from its low price
and large selection of colors and patterns, which makes it an appealing
alternative especially in the residential market. But the strongest product
category in terms of growth remains laminate flooring, which is expected to
substantially increase its share of the hard surface flooring market and
provide the best opportunities through 2011. This segment has posted
double-digit growth rates for the past five years and is expected to continue
doing so for at least the next five. Gains will be driven by the continuing
popularity and increasing consumer familiarity with the performance and
benefits of laminate flooring. Moreover, laminate flooring prices are
generally lower compared to the flooring choices it mimics, such as hardwood.
Nevertheless, consumer interest in highend flooring products will aid demand
for wood and ceramic tile flooring going forward, especially as the 45
year-old and older demographic segment, which typically has the greatest
spending power, becomes larger.
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