(September 2013) Demand for kitchen and bathroom countertops is predicted to increase until 2017 by a constant 5.1%/year in the USA. Predictions also show a slight shift in material: natural stone is predicted to take on 17% from the current 16%, engineered stone is predicted to increase by 1% from 9% to 10% and laminates are said to be on the decline from a current 47% to a predicted 44%. This is the result of a study by Freedonia Group. The unabridged study by the title of „Countertops“ can be purchased for 5,300 US-dollars.
2017 will see sales of some 750 million sq. feet (69,7 million m²) of countertops, up from 585 million sq. feet (54,3 million m²) in 2005, and 670 million sq. feet (62,3 million m²) in 2007 just before the crash of the real estate markets.
The greatest portion of the predicted increase according to Freedonia is due to an increase in construction of family homes.
Natural stone withstood the financial crisis in the US-real-estate branch. From 2007 to 2012 its piece of the cake increased from 13% to 16% in part because the price of granite fell according to a study.
The study sees a bright forecast for natural stone in the USA: high-end consumers are predicted to increase their demand for expensive material to set themselves apart of the masses.
Facts and figures for the Chinese market
In July 2012 Freedonia presented facts and figures for the Chinese markets in which demand for countertops was said to increase by 6.5% yearly until 2015. Back then 883.7 million sq. feet ( equaling approx. 82.1 million m²) were sold. A modest gain was predicted for natural stone whereas for engineered stone the prediction was that it „will continue to see the fastest growth of all materials, with demand increasing 20 percent per year through 2015“.
The study by the title of „Residential Kitchen and Bathroom Countertops in China“ is available for 5.400 US-dollars.
(08.09.2013) (USA: 09.08.2013)