Reportlinker.com announces that a new market research report is available in its catalogue: US Hard Surface Flooring Market
US demand to rise 5% annually through 2017
US demand for hard surface flooring is forecast to rise 5.0 percent per year to 9.3 billion square feet in 2017, valued at $13.8 billion. Advances will be primarily driven by a rebound in building construction expenditures, but will also be spurred by increasing consumer interest in alternatives to traditional carpets and rugs. While often more costly initially, hard surface flooring offers performance advantages, such as a longer lifespan and less maintenance than carpeting. In terms of aesthetics, many consumers find such flooring types as hardwood, luxury vinyl tile (LVT), and porcelain and stone tiles more attractive than carpet.
Vinyl, decorative tile to exhibit strongest gains
Among all hard surface flooring types, vinyl flooring and decorative tile are expected to register the strongest gains through 2017. Vinyl flooring demand will be spurred by heightened usage of LVT. Consumers will increasingly opt for LVT because it offers the durability and performance properties of traditional vinyl flooring products, but features a high-gloss appearance and can be made to look like more costly material such as wood or natural stone.
Tile demand will be boosted by consumer desire for durable, low-maintenance flooring. Low-cost ceramic tile will continue to account for the largest share of demand, but natural stone and porcelain tile are expected to see the fastest growth of all tile types. Homeowners will select natural stone tile because of its favorable aesthetics, while nonresidential consumers will install porcelain tiles because of their durability, slip resistance, low cost, and ability to look like more costly stone or wood.
Imports will account for more than onehalf of hard surface flooring demand in 2017. Decorative tile and vinyl flooring made in such low-cost nations as China account for the largest share of imports, as well as stone tile quarried from such countries as Brazil and Turkey. However, shipments of hard surface flooring will see gains as manufacturers take advantage of low natural gas prices to expand US-based production sites and relocate manufacturing facilities to the US.
Nonresidential market to be fastest growing
The nonresidential market is forecast to see the most rapid gains in hard surface flooring demand through 2017. The office and commercial segment will post the strongest growth during this time, fueled by double-digit advances in construction spending and rising interest in hard surface flooring as a low-maintenance alternative to carpeting. Demand for vinyl flooring and decorative tile will advance at the fastest pace due to desirable performance properties such as resistance to slips and biological contamination, especially in institutional structures.
In the residential market, the new housing segment will see the strongest advances as housing completions rise from their low 2012 base. The improvement and repair segment will continue to account for the larger share of demand as homeowners replace older or worn carpeting with more durable and aesthetically pleasing hard surface flooring. Rebounding motor vehicle and recreational boat and vehicle shipments will promote hard surface flooring demand in the transportation market.
Study coverage
This upcoming Freedonia industry study, Hard Surface Flooring, is available for $5100. It presents historical demand data through 2012 plus forecasts for 2017 and 2022 by product and market. The study also considers key market environment factors, evaluates company market share, and profiles US industry competitors.
Source: http://www.reportlinker.com