US hard surface flooring demand to reach 11.7 billion square feet in 2009.
US demand for hard surface flooring is projected to advance 5.5 percent per annum Per annum
Yearly. through 2009 to 11.7 billion square feet, a slight acceleration over the 1999 to 2004 period. Hard surface flooring is expected to gain significant market share from carpets and rugs going forward, driven by growing consumer preferences for high-end products such as laminates, ceramic and natural stone tile tile, one of the ceramic products used in building, to which group brick and terra-cotta also belong. The term designates the finished baked clay—the material of a wide variety of units used in architecture and engineering, such as wall slabs or blocks, floor , and wood, as well as increasing interest in natural and environmentally responsible products such as natural stone, wood, cork cork, in botany
cork, protective, waterproof outer covering of the stems and roots of woody plants. Cork is a specialized secondary tissue produced by the cork cambium of the plant (see meristem, bark). and bamboo bamboo, plant of the family Gramineae (grass family), chiefly of warm or tropical regions, where it is sometimes an extremely important component of the vegetation. It is most abundant in the monsoon area of E Asia. . These and other trends are presented in Hard Surface Flooring, a new study from The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
Trends toward high-end, value added Value Added
The enhancement a company gives its product or service before offering the product to customers.
This can either increase the products price or value. 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 vinyl /vi·nyl/ (vi´nil) the univalent group CH2dbondCH—.
vinyl chloride a vinyl group to which an atom of chlorine is attached; the monomer which polymerizes to polyvinyl chloride; it is toxic and laminate flooring This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. production) are anticipated to soften from recent historical highs, which will alleviate pressure on manufacturers to raise prices.
Through 2009, vinyl flooring will continue 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 through 2009. Gains will be driven by continuing popularity and increasing consumer familiarity, as well as the product's attractive price point compared to the flooring choices that it mimics such as wood. Consumer interest in high-end flooring products will aid demand for wood and ceramic tile floor coverings.
The residential building market is expected to provide the best opportunities for hard surface flooring, with demand rising 6.9 percent per year through 2009 to 5.8 billion square feet. Despite a decline in single-family housing activity, gains in multifamily and manufactured housing Manufactured housing (also known as prefab housing) is a type of housing unit that is largely assembled in factories and then transported to sites of use.
In the United States, the term "manufactured home" specifically refers to a house built entirely in a protected construction will aid growth. Advances will also be supported by an acceleration in residential repair and improvement spending. The nonresidential market will see accelerating growth through 2009, bolstered by a significant rebound rebound (rē´bownd),
n/v 1. a recovery from illness.
n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus
rebound adjective in new construction spending Construction Spending
An economic indicator that measures the amount of spending towards new construction. Released monthly by the U.S. Department of Commerce's Census Bureau, it looks at residential and non-residential construction in the private sector, and state and federal at , 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 (published 08/2005, 266 pages) is available for $4,100 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 440.646.0484 or e-mail firstname.lastname@example.org. Information may also be obtained through www.freedoniagroup.com.
HARD SURFACE FLOORING DEMAND (million square feet) % Annual Growth Item 1999 2004 2009 04/99 09/04 Hard Surface Flooring Demand 7300 8940 11700 4.1 5.5 Residential Building 2990 4130 5760 6.7 6.9 Nonresidential Building 3855 4385 5480 2.6 4.6 Transportation Equipment 455 425 460 -1.4 1.6 [c] 2005 by The Freedonia Group, Inc.