Countertops Demand to Reach 760 Million Square Feet in 2013

US demand for countertops is forecast to increase 2.4 percent annually to 760 million square feet in 2013.  Growth will accelerate from the pace of the 2003-2008 period, prompted by a rebound in housing construction from the depressed 2008 level.  While the residential remodeling segment will post below-average advances in demand through 2013, gains will be promoted by the large stock of homes requiring countertop replacement, as well as the desire of consumers to renovate their kitchens and bathrooms by installing larger-sized countertops.  These and other trends, including market share and product segmention, are presented in US Countertops, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

Countertops made from engineered and natural stone will experience the strongest gains through 2013.  Consumers view these materials as durable, aesthetically pleasing surfaces that are highly resistant to scratches and extreme temperatures.  Engineered stone will benefit from its resistance to biological contaminants and its resemblance to natural stone, while remaining impervious to moisture.  Natural stone will benefit from consumer interest in the luxury and style that granite and other types of stones offer.  Laminate countertops will continue to account for the largest share of countertop sales. 

In 2008, the residential market accounted for three-quarters of overall countertops demand.  The residential market will continue to drive countertop demand through 2013, reflecting the rebound in housing construction and continued consumer interest in installing high-value countertops.  The nonresidential market is forecast to contract through 2013, as decreases in nonresidential construction spending will limit overall countertops demand.  Best prospects for growth in the nonresidential countertops market will be the institutional segment, as medical and educational facilities install countertops in patient rooms, classrooms and food service areas.  Countertops demand in nonbuilding applications is forecast to rise, spurred by rebounding production of recreational boats and vehicles.

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.