by Corinne Gangloff
May 15, 2017
Australia’s countertop market will total 4.15 million square meters in 2021. Australia’s countertop demand per capita is the second highest of any major market, lagging only the US. Unlike most other developed countertop markets, Australia escaped demand contractions between 2006 and 2011, as its economy and construction market largely avoided the severe economic recession that plagued many other developed countries during that time period. However, the country did experience a small contraction in elective remodeling spending in the residential market between 2011 and 2013 due to economic tightening, but demand recovered quickly through 2016. These and other trends are presented in Global Countertops Market, 2nd Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Several factors will support advances:
However, several factors will restrict more rapid advances in countertop demand in Australia through 2021. First, Australia has a developed countertop market, which means that there is little room for countertops to make further inroads. Second, new housing construction is expected to decline through 2021 from a cyclical peak in 2015 and 2016.
Global Countertops Market, 2nd Edition (published 04/2017, 269 pages) is available for $6300 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
Related studies include:
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