Demand for Countertops in China to Exceed 82 Million Square Meters in 2012

Demand for residential kitchen and bathroom countertops in China is forecast to increase 4.6 percent annually to more than 82 million square meters in 2012.  Continuing growth in new housing completions, rising improvement and repair expenditures, an expanding average kitchen floor space in new residential structures and a greater penetration of countertops in bathrooms will spur further sales gains.  Rising personal income levels across the country will also support demand. These and other trends, including market share and product segmentation, are presented in Residential Kitchen & Bathroom Countertops in China, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

Solid surface countertops have seen remarkable sales growth since their introduction to the Chinese marketplace in the early 2000s, and now account for 48 percent of the overall residential countertop market.  Gains will be spurred by the material’s durability, renewability, attractive appearance and minimal maintenance requirements, as well as its expanding availability.  The small engineered stone segment will post the fastest growth, reaching 2.1 million square meters in 2012, valued at 2.6 billion yuan.  Demand will be supported by continued consumer interest in engineered stone for both its outstanding aesthetics and performance.

Kitchen countertops will remain dominant over bathroom applications.  Advances will be supported by the increasing average size of kitchens and further penetration of countertops in rural housing.  However, demand for bathroom countertops is expected to grow faster than that for kitchen countertops, largely due to an increase in the penetration rate of countertops in bathrooms in China from its current low level.

New demand will account for 70 percent of residential countertop demand in China in 2012, resulting from increases in new housing completions, and growth in the average size of kitchens and bathrooms in new structures.  However, remodeling demand for countertops will see stronger growth than new demand through 2012.  The aging of the existing housing, together with increasing personal income levels, will help to spur remodeling construction expenditures, and hence associated demand for countertops.

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.