CLEVELAND -- U.S. demand for cast polymers is forecast to increase 5.4% annually through 2014 to 216 million square feet, according to a new study by the Freedonia Group Inc., an industry market research firm.
Freedonia said a rebound in housing completions from the depressed levels of 2009 will be an important driver of demand growth. In addition, cast polymers will seize market share from more traditional decorative surfacing materials, such as laminates, especially in the residential countertop market.
Cast polymer countertops offer minimal maintenance requirements as well as resistance to stains, impact, moisture and other damage caused by wear and tear. These and other trends are presented in Solid Surface Materials & Other Cast Polymers.
Demand for engineered stone is projected to advance 11.0% to 53 million square feet in 2014, the fastest growth of any cast polymer product. Freedonia said consumers will choose engineered stone surfacing because it resembles natural stone, and because they view it as a high-end material that adds value to a home. The countertop market will account for 85% of cast polymer demand in 2014.
The new housing segment will provide the most rapid gains, as housing completions rebound and builders looking to make homes more marketable increasingly choose cast polymer countertops instead of laminates or tile. The residential improvement and repair segment will continue to account for the majority of cast polymer countertop demand.
Read the Freedonia Group's press release.
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