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Demand for Countertops in China to Exceed 82 Million Square Meters in 2012

Updated:2009-04-01 17:47:28

A new market research of says that value demand for countertops in China is expected to advance 10.1 percent per year to 44 billion yuan in 2012. Gains will be fueled by an ongoing shift in the overall product mix toward more expensive countertop materials, particularly solid surface and engineered stone. However, the competitive environment is expected to restrict price gains in all countertop material segments. Solid surface countertops account for four-fifths of total countertop sales value, benefiting from high volume demand and average price per square meter far above traditional tile or natural stone types. In volume terms, demand for residential kitchen and bathroom countertops in China is forecast to increase 4.6 percent annually to more than 82 million square meters in 2012.

Continuing growth in new housing completions, rising improvement and repair expenditures, an expanding average kitchen floor space in new residential structures, and a greater penetration of countertops in bathrooms will spur further sales gains. Rising personal income levels across the country will also support demand.

Solid surface countertops to grow sharply

Solid surface countertops have seen remarkable sales growth since their introduction to the Chinese marketplace in the early 2000s, and now account for 48 percent of the overall residential countertop market. Demand for solid surface countertops is expected to exceed 47 million square meters in 2012, equivalent to 57 percent of the total countertop market. Gains will be spurred by the material?s durability, renewability, attractive appearance and minimal maintenance requirements, as well as its expanding availability. The small engineered stone segment will post the fastest growth, reaching 2.1 million square meters in 2012. Demand will be supported by continued consumer interest in engineered stone for both its outstanding aesthetics and performance.

Remodeling demand to be stronger than new countertop demand through 2012

New demand will account for 70 percent of residential countertop demand in China in 2012, resulting from increases in new housing completions, and growth in the average size of kitchens and bathrooms in new structures. However, remodeling demand for countertops will see stronger growth than new demand through 2012. The aging of the existing housing stock, together with increasing personal income levels, will help to spur remodeling construction outlays, and hence associated demand for countertops. The Central-East will remain the largest regional market for residential countertops in China, accounting for nearly half of total demand in 2012. Advances will be supported by its more advanced building construction markets, triggered by higher disposable income levels and a large population base in the region.



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