?A new study by industry market research firm The Freedonia Group forecasts an 8.2% annual rise in U.S. demand for cabinets, to reach $15.3 billion in 2016. The study finds that the residential market accounts for the largest share of cabinet demand, with the turnaround in residential building construction expected to drive gains.
The new-home construction segment will see the most rapid advances, although growth will also be supported by the improvement and repair market.
Kitchen cabinets accounted for over four-fifths of 2011 demand and will see the fastest growth in the coming years. The study forecasts growth of 8.6% annually through 2016.
Boosting kitchen cabinet sales is the trend toward more and larger cabinets for food and cookware storage, with amenities such as pull-out drawers and shelves and wine racks.
Bathroom cabinet demand is forecast to grow 6.5% per year to $1.8 billion in 2016.
Demand for cabinetry elsewhere in the house, including home theaters, laundry rooms, and home offices is expected to reach $950 million in sales by 2016.
Other areas of growth include the office and commercial market and retail need for display cabinetry.
—Nina Patel, senior editor, REMODELING.
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