US demand for hard surface flooring is forecast to increase five percent per annum to 815 million square yards in the year 2002.
The US is a significant importer of certain flooring products, especially ceramic tile flooring. This trend will continue with total hard surface flooring imports outpacing exports through the early part of the next century. As a result, shipments from US manufacturers are projected to advance 4.5 percent annually to nearly 760 million square yards in 2002, slower than demand. In value terms, shipments are expected to rise nearly 9 percent per annum through 2002 to $7.4 billion.
Resilient flooring, primarily vinyl, will continue to account for over 70 percent of hard surface flooring shipments in square yards through 2002, based on its relatively low cost and acceptance in a wide array of applications. However, other flooring products, especially wood and high-pressure laminates, will experience stronger gains benefiting from the increasing trend toward products made from or resembling natural materials. These products generally feature a premium price, so while they account for only about 25 percent of shipments in square yards, they comprise about 60 percent of the market in value terms.
The nonresidential sector will continue to represent the largest market for hard surface floor coverings, accounting for 53 percent of demand in 2002. Growth in this sector will be supported by declining vacancy rates and larger new building structures. Advances in both nonresidential and residential markets will be spurred by healthy replacement and improvement spending levels. However, residential gains will be limited by declining housing starts, particularly in the key single-family segment, which has been impacted by reduction in the share of the population entering the prime ages for first-time home purchases.
Hard Surface Flooring (published 1/99, 179 pages) is available for $3300 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. Full text is also available online through commercial database companies and the www.freedoniagroup.com Web site.
Please attribute information from this news release to The Freedonia Group (Cleveland, OH) and include, if possible, the price of the report. We would also appreciate a copy of the article or publication in which we appear.
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|Comment:||US demand for hard surface flooring is forecast to increase five percent per annum to 815 million square yards in the year 2002.|
|Publication:||Research Studies - Freedonia Group|
|Date:||Jan 1, 1999|
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