Hard Surface Flooring ReportsnReports

Hard Surface Flooring ReportsnReports

Hard Surface Flooring

Report Summary

US demand to rise 5.6% annually through 2015

US demand for hard surface flooring is forecast to increase 5.6 percent per year through 2015 to 8.6 billion square feet,with a value approaching $11 billion.This pace represents a dramatic turn-around from the 2005-2010 period, when demand declined nearly six percent per year. Two factors caused that decline: the steep drop in building construction from 2007 through 2010 and a reduction in remodeling expenditures for flooring projects. Through 2015, hard surface flooring demand will benefit from a recovery in flooring remodeling and an expected advance in building construction spending from its depressed 2010 base.

Residential flooring to be fastest growing market

The residential market is forecast to account for the most rapid advances inhard surface flooring demand through 2015. Growth will be driven by a rebound in housing completions and residential improvement and repair expenditures from their low 2010 levels. Gains will also be supported by continuing consumer preference for hard surface flooring over carpets and rugs. Hard surface flooring is seen as being more durable and aesthetically pleasing than carpets and rugs.

In the nonresidential market, hard surface flooring demand advances will be spurred by solid growth in office and commercial and institutional construction spending.

Building owners and managers will select hard surface flooring because of its durability and minimal maintenance requirements, which suppress costs in the long run. Rebounding motor vehicle and transportation equipment shipments will support demand in the transportation market.

Laminate flooring to be fastest growing product

Hard Surface Flooring ReportsnReports

Laminate flooring is projected to see the most rapid demand gains through 2015.Growth will be spurred by the rebound in residential building construction, the market where laminate flooring is most often used. Advances will be supported by the efforts of manufacturers to create products with more realistic finishes and textures. Wood and tile flooring will see above-average growth. Consumers will opt for these flooring materials, which are perceived as high-end surfacing that add beauty to a home. Vinyl flooring will see below-average growth through 2015 because of competition from other hard surface flooring materials. However,vinyl flooring will continue to account for the majority of hard surface flooring demand because of its low cost and favorable performance properties.

Imports to continue gaining market share

Imports will continue to account for a larger share of hard surface flooring demand through 2015. Advances will be driven by rising demand for vinyl and tile flooring made in such low-cost nations as China and Brazil. Further gains will be supported by rising interest in exotic hardwood flooring, as well as bamboo and cork flooring. Even as imports increase their market penetration, domestic shipments will see gains, as US producers ramp up production to meet demand.

Study coverage

This new Freedonia industry study, Hard Surface Flooring, is priced at $4900. It presents historical demand data (2000,2005 and 2010) plus forecasts for 2015 and 2020 by product (e.g. vinyl, rubber,linoleum, ceramic tile, wood, laminate)and market (e.g. residential buildings,nonresidential buildings, transportation equipment). The study also considers market environment factors, evaluates company market share and profiles key industry competitors.


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