Quartz & Granite Countertops Demand Increases
Quartz & Granite Countertop Demand
Driven by continued steady demand for kitchen and bath remodeling, demand for residential kitchen and bathroom countertops is being forecast to increase 1.3% annually, to 540 million sq. ft. in 2011. However, according to the Cleveland, OH-based industry market research firm, The Freedonia Group, demand growth will decelerate from the 5% pace of the period between 2001 and 2006, primarily due to weakness in the new single-family home market. Continued consumer preferences for larger kitchens and more bathrooms will promote growth, as will growth in the residential remodeling sector, which accounted for 70% of volume in 2006. the research firm said (see graph above right). Countertops made from quartz and natural stone such as granite countertops will experience the strongest gains through 2011, driven in part by price declines. Laminate countertops, however, will continue to account for the largest share of countertop sales, researchers noted.
Cabinet & Vanity Sales
Sales of kitchen cabinets and bathroom vanities declined again in September compared to the same month in 2006, the Kitchen Cabinet Manufacturers Association said last month. According to the Reston, VA-based KCMA, manufacturers participating in the association’s monthly “Trend of Business” survey reported that overall cabinet sales, impacted by continued declines in housing, fell 12.5% in September compared to September of last year. Sales of stock cabinets declined 20.7% for the month, while semi-custom cabinet sales fell 3.6% and custom cabinet sales dipped 5.5%. Year-to-date sales through the first nine months of 2007 were down 12.9% from the January-September time period of 2006, the KCMA reported.
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