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[Oct 2005]
US Hard Surface Flooring Study
The Freedonia Group Inc (Cleveland, OH, USA) has published its new study on 'Hard Surface Flooring'. It says that US demand for hard surface flooring is projected to advance by 5.5% per annum through to 2009 to 11.7 billion sq.ft., a slight acceleration over the 1999 to 2004 period.
Hard surface flooring is expected to gain significant market share from carpets and rugs, driven by growing consumer preferences for high-end products such as laminates, ceramic and natural stone tile and wood as well as increasing interest in natural and environmentally responsible products such as natural stone, wood, cork and bamboo.
Trends towards high-end, value added products will help boost value gains, although price increases are expected to moderate going forward due to market maturity and intense price competition from imports. Additionally, costs for crude oil (an important raw material in vinyl and laminate flooring production) are expected to soften from recent historical highs which will alleviate pressure on manufacturers to raise prices.
Through to 2009, vinyl flooring will continue, according to the study, to be the leading hard surface flooring product, despite losing significant share to laminate flooring and ceramic tile. Vinyl will benefit from its low price and performance characteristics. Laminate flooring is expected to increase its share of the hard surface flooring market and provide the best opportunity for growth by far in the study period. Gains will be driven by continuing popularity and increasing consumer familiarity, as well as the product's attractive price point compares to the choices that it mimics such as wood. Consumer interest in high-end flooring products will aid demand for wood and ceramic tile.
The residential building market is expected to provide the best opportunities for hard surface flooring, with demand rising by 6.9% per year from now until 2009, reaching 5.8 billion sq.ft. Despite a decline in single-family housing activity, gains in multi-family and manufactured housing construction will aid growth. Advances will also be supported by an acceleration in residential repair and improvement spending. The non-residential market will see accelerating growth, bolstered by a significant rebound in new construction spending, particularly in the office and commercial segment. A rebound in transportation equipment production will benefit demand for hard surface flooring in motor vehicle, aircraft, recreational vehicle and boat markets.
'Hard Surface Flooring' runs to 266 pages and is available from Freedonia Group Inc at a cost of US$4,100.
www.freedoniagroup.com
ENDS