U.S. demand for cabinets is forecast to rise 8.2 percent annually to $15.3 billion in 2016, according to a new study from the Freedonia Group.
Growth in cabinet demand will be driven by a rebound in housing completions from a depressed 2011 base. Although housing completions will remain below the level reached at their cyclical peak in 2006, the expected recovery will fuel gains in the residential market, which accounts for the largest share of cabinet demand, the study notes.
Kitchen cabinets, which accounted for more than four-fifths of 2011 demand, will see the fastest growth, with demand boosted by design trends that call for homes with more and larger cabinets, as well as a growing demand for cabinets with value-added amenities, such as pull-out drawers and shelves, wine racks and other features that improve kitchen convenience.
Demand for bathroom cabinets is forecast to grow 6.5 percent per year to $1.8 billion in 2016. Design trends that call for homes with multiple bathrooms will support demand, as these rooms frequently include medicine chests or vanities. Demand for other cabinets, such as those found in home theaters, laundry rooms, home offices and other areas, is expected to reach $950 million.
Through 2016, demand for cabinets in the nonresidential market is anticipated to advance 6.5 percent annually to $2.8 billion, driven by a rebound in construction spending. The office and commercial market will also see growth as construction of retail sites will promote store display cabinet demand.
A full copy of the study may be obtained at www.freedoniagroup.com.
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This report focuses on current trends in kitchen
construction, design and finishes based on surveys at leading
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