FDMC December 2017: Wood Industry Almanac

In This Issue

Almanac Market Data

What's driving the cabinet & countertop industries? Trends & statistics

Kitchen cabinet demand in the United States is projected to grow 5.9% per year to $17.1 billion in 2021, according to the 10th edition of the Cabinets Market in the U.S. study by The Freedonia Group. The fastest growing style, tall kitchen cabinets are projected to reach a value of $3.2 billion in 2021 on annual advances of 7.7%. Tall cabinets are rising in popularity due to their additional storage and they can make smaller kitchens appear larger.

Almanac Market Data

Residential furniture industry: Trends & analysis

Despite a slow start in 2017, the residential furniture industry continues to demonstrate steady signs of improvement, both in solid wood and panel-based products, with the latest year-to-date figures from Smith Leonard’s Furniture Insights showing a 6% gain in new orders over the first eight months of 2016, with shipments up 5%.

Almanac Market Data

Positive outlook for retail fixtures industry as physical stores grow presence

Just ask Amazon and Google, both of whom have ramped up their retail presence with physical stores. The fact is, brick and mortar stores are here to stay. Stay, but not be stagnant. In order to compete with their online counterparts, physical stores are evolving in the services and technology offered, as well as in the style, accessibility and feel/texture of the visual merchandising displays and fixtures used.

Almanac Market Data

Growth opportunities in closets & home storage industry

The U.S. closets and home storage organization market is projected to grow 3.5% annually to $10.5 billion in 2019, according to research by The Freedonia Group. Closets and bedrooms continue to bel the most important areas for home organization products, with demand for closet storage outpacing that of other bedroom storage due to greater investment in modular units. Other storage products purchased for the bedroom (not including closets) includes shelves and bins, baskets, and totes.

Almanac Market Data

Wood and laminate flooring forecasts & analysis

 Overall, the wood and laminate flooring markets continue to increase their share of the floor coverings market as residential and commercial buyers’ preference for these durable and design-oriented products continues to grow. According to Catalina Research, the hardwood flooring market rose 5.9% in 2016, reaching $3.64 billion. Laminate flooring, which faces greater competition from low-cost imports, showed minimal gain last year, less than 1%, to reach $956 million.