LOS ANGELES — The cabinet and vanity manufacturing industry is projecting an 8.6% growth in 2012 based on increases in consumer spending and a stabilization in the housing market, according to a recent study by IBISWorld. The study also forecasts steady growth for the next five years.
According to IBISWorld, "demographics will play a key role in the demand for housing, as a large segment of the population is gearing up to enter the homeowners market and will encounter a limited inventory of new homes. As more people buy homes, housing starts will accelerate and demand for industry products will increase."
IBISWorld estimates the largest industry manufacturers include Fortune Brands & Home Security and the Masco Corporation. The remainder of the market is captured by a large number of small and privately owned businesses that serve local retail markets.
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