Jan 6 2010
Reportlinker.com announces that a new market research report is available in its catalogue: US Decorative Tile Industry http://www.reportlinker.com/p0170605/US-Decorative-Tile-Industry.html
US demand to increase 4.4% annually through 2013
Demand for decorative tile is forecast to increase 4.4 percent per year to 3.3 billion square feet in 2013. Demand is dominated by flooring applications, which accounted for 80 percent of total tile demand in 2008, and will continue to spur demand for decorative tile as consumer preferences shift away from carpets and rugs. Flooring demand for tile is expected to increase 4.5 percent annually through 2013 to 2.7 billion square feet. Gains will be boosted by the residential market, as housing completions rebound and consumer spending on improvement and repair projects rises. Homeowners are attracted to tile floors because of their aesthetic properties, durability, minimal maintenance requirements, long life span, and resistance to stains and impact damage. In value terms, demand for decorative tile is projected to increase 5.5 percent per year to $4.5 billion in 2013. Value gains will be driven by increased sales of porcelain, glass and other specialty tile types. These tile varieties, which are significantly more expensive than traditional ceramic tile, will benefit as homeowners and building designers work to enhance the aesthetic qualities of floors, walls, countertops and other surfaces. Foreign trade plays a crucial role in the industry. In 2008, 74 percent of all tile sold in the US was imported. Most imported tile is produced in countries with low labor costs and good access to inexpensive raw materials. However, imports of high-end tiles account for a considerable share of overall demand. Many consumers in both residential and nonresidential applications see European manufactured tile as a highly fashionable surfacing material.
Porcelain, natural stone tile to be fastest growing types
Porcelain and natural stone tiles will account for the strongest gains of all tile types through 2013. Demand for porcelain tile will be driven by its aesthetic advantages. Porcelain tile is more durable than ceramic tile, and can be fired to resemble natural stone, making it a less costly alternative to genuine stone tiles. Demand for natural stone tiles will be spurred by interest in stone surfaces in mid-range and high-end residences. However, ceramic tile will account for the vast majority of tile demand in both value and area terms through 2013, primarily due to its low cost.
Residential construction to see fastest market gains
The residential construction market will generate the most rapid gains in tile demand. Advances will be spurred by a rebound in housing completions from the low levels experienced in 2008. Further gains will be promoted by spending on kitchen and bathroom renovation projects. Tile can be marketed to homeowners who want surfaces that are easy to care for. In addition to providing durability and moisture resistance, decorative tile is seen as a modern, fashionable surfacing material that is easy to clean. The nonresidential building construction market for tile will see slow growth, as reductions in construction spending will cause builders and developers to cancel or reduce the scope of such construction projects as office buildings and shopping malls. Tile surfaces are often installed in those structures because of tile's durability, minimal maintenance requirements and slip resistance.
Study coverage
This new industry study presents historical demand data (1998, 2003 and 2008) plus forecasts for 2013 and 2018 by product, application and market. The study also considers market environment factors, reviews the industry structure, assesses company market share and profiles US industry competitors.
Source: http://www.reportlinker.com/