Cleveland, Ohio - The market for residential kitchen and bathroom countertops in China is expected to grow 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 also spur demand for countertops. These and other trends are presented in Residential Kitchen & Bathroom Countertops in China, a new study from the Beijing office of The Freedonia Group, Inc., a Cleveland-based industry research firm.

Demand in new construction will account for 62 percent of residential countertop demand in volume terms in China in 2015, as new housing completions increase and kitchen and bathroom sizes in new structures continue to grow. However, remodeling demand will see faster growth through 2015. An aging housing stock, combined with increasing personal income levels, will help to spur remodeling expenditures and associated demand for countertops.

Solid surface countertops account for the largest share of the overall residential countertop market. However, solid surface faces 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 post the fastest growth of all materials, with demand increasing 20 percent per year through 2015. Gains will be spurred by engineered stone’s natural appearance combined with its durability and reputation as a high-end product. Demand for natural stone will increase 2.2 percent per year through 2015. Tile and laminates will continue to see declines in demand. The market for other materials, such as stainless steel and wood, will be fueled by increasing consumer interest in specialized countertop surfaces.

Residential Kitchen & Bathroom Countertops in China (published 07/2012, 234 pages) is available for $5400 from The Freedonia Group, Inc., 767 Beta Drive, Cleveland, OH 44143-2326. For further details, please contact Corinne Gangloff by phone 440.684.9600, fax 440.646.0484 or e-mail [email protected]. Information may also be obtained through www.freedoniagroup.com.

Source: Freedonia Group