Reportlinker.com announces that a new market research report is available in its catalogue. US Hard Surface Flooring Market
US demand to grow 2.8% annually through 2013
US demand for hard surface flooring is projected to increase 2.8 percent annually from a weak 2008 base to 7.6 billion square feet in 2013. This represents a considerable improvement over the performance of the 2003-2008 time frame, when consumption contracted as a direct result of the collapse of the US new housing market.
Vinyl to remain dominant
Vinyl flooring will continue to be the largest volume hard surface flooring product in use. Although vinyl will continue to lose market share to other hard surface flooring materials, its low cost, durability and wide acceptance in all market segments will ensure its continued leading market position. Demand will also benefit from the development of new products, such as fiberglass backed sheet goods, and from the long-anticipated recovery of the manufactured housing segment, a significant contributor to vinyl flooring demand. Ceramic tile is also a major contributor to hard surface flooring demand. While expensive, ceramic tile flooring is extremely durable and offers numerous aesthetic, maintenance and styling advantages that permit these materials to maintain a significant share of the market. Gains will be concentrated in new home construction applications. Niche products such as wood, laminate and bamboo flooring will all post above average growth through 2013, increasing their shares of the overall market. In particular, laminate flooring has shown strong growth over the last ten years, as the "floating floor" technology gained a significant beachhead in the US market. Nevertheless, the rising tide of laminate flooring growth may have crested, and opportunities are expected to be much less favorable through 2013. Wood flooring will post above average gains, moderated slightly by the comparative high cost of these materials. Bamboo flooring will advance rapidly from a very small 2008 base.
Growth in new residential construction to spur gains
New residential construction will be the primary engine of growth for hard surface flooring products, as this important market segment recovers from the very weak levels of 2008. Overall, new residential construction accounts for about one-fifth of total hard surface flooring demand. The residential improvement and repair market will continue to be the dominant market segment, accounting for nearly 40 percent of demand, but will offer more muted growth prospects.