The industry is more positive on future business conditions than on current conditions.
National Kitchen & Bath Association research estimates K&B market at $158 billion in 2017, up nearly 7.5 percent over 2016.
Year-to-date cabinetry sales through August 2018 are up 1.8 percent according to participating manufacturers.
Acquisition adds kitchen and bath cabinetry and home storage brands to American Woodmark's growing portfolio.
HARRISBURG, S.D. -- After a long career in the kitchen cabinet industry, Tom Allen will retire as the director of national sales at cabinet manufacturer Showplace Wood Products on December 31, 2017. The retirement was announced by Showplace president and CEO Paul Sova. "We’re grateful for Tom’s years with Showplace," said Sova. "His industry contacts and depth of knowledge have been significant assets which allowed him to play a big role in the growth of our company over the last decade.”
Kitchens and baths represent a $134 billion industry, according to research released during the KBIS show by the National Kitchen & Bath Association.
Masco Corp., one of the largest cabinet manufacturers in the United States, reported net sales and adjusted operating profit growth in the fourth quarter of 2015. For the year, the U.S. cabinet business operating profit rose by over $80 million.
U.S. demand for cabinets is projected to grow 6.4 percent annually to $17.3 billion in 2019, spurred by continuing consumer interest in kitchen and bathroom renovation projects. Residential improvement and repair activity has been subdued since the 2007-2009 recession, but kitchen renovations and bathroom additions held up better than many other projects, as homeowners tried to improve their home’s appearance and to boost property values.