Continuing growth in new housing completions and increasing improvement and repair expenditures
will drive the market for residential kitchen and bathroom countertops in China.
Demand to increase 6.5%
per year through 2015
The market for residential kitchen and
bathroom countertops in China is
forecast to increase 6.5 percent per year
to 82.1 million square meters in 2015.
Advances will be driven by continuing
growth in new housing completions and
rising improvement and repair expenditures.
The expanding average floor
space of kitchens and bathrooms in new
residential structures, a greater penetration
of countertops in bathrooms, and
rising personal income levels across the
country will fuel demand for countertops.
to outpace kitchen types
Demand for both kitchen and bathroom
countertops will benefit from the growing
average size of kitchens and bathrooms,
as well as the more extensive usage of
countertops, especially in rural housing.
Although kitchen countertops will remain
dominant, sales of bathroom countertops
will see more rapid growth through 2015.
Gains will be supported by the higher
penetration rate of countertops in bathrooms,
especially in new construction.
Demand in new construction will account
for 62 percent of residential countertop
demand in volume terms in China in
2015, as new housing completions rise
and kitchen and bathroom sizes in new
structures continue to grow. However, remodeling
demand will see faster growth
through 2015. An aging housing stock,
plus higher personal income levels, will
help to spur remodeling expenditures
and associated demand for countertops.
Engineered stone to remain
fastest growing material
Solid surface countertops account for the
largest share of the overall residential
countertop market. However, solid surface
countertops face competition from
engineered stone, which saw its share
of the market leap from one percent in
2005 to more than 15 percent in 2010.
Engineered stone will continue to see
the fastest growth of all materials, with
demand increasing 20 percent per year
through 2015. Gains will be fueled by
engineered stone’s natural appearance
combined with its durability and reputation
as a high-end product. Demand for
natural stone will exhibit modest gains
through 2015, while tile and laminates
will continue to post declines in demand.
The market for other materials, including
stainless steel and wood, will be stimulated
by increasing consumer interest in
specialized countertop surfaces.
Central-East to remain
largest regional market
The Central-East will remain the largest
regional market for residential countertops
in China through 2015. Gains will
be supported by the region’s higher
penetration rate of countertops in both
kitchens and bathrooms, higher disposable
income levels, and large population
base. Developing regions such as the
Northwest, Southwest, and Northeast
will post the fastest growth through 2015,
due mostly to the previously low penetration
rate of countertops in these regions.
This study analyzes the 60 million square meter residential kitchen and bath countertop industry in China. It presents historical demand data for the years 2000, 2005 and 2010 with forecasts for 2015 and 2020 by surface material (e.g., solid surface, natural stone, engineered stone, tile, laminates), application (kitchen, bathroom), market (new construction, remodeling) and US region.
The study also considers market environment factors, details industry structure, evaluates company market share and profiles 31 industry participants, including Guangdong Huazun Industry, DuPont and Guangdong Oppein Home Group.