A recent report from the Woodworking Network has summarized market insights from the Freedonia Group, the National Kitchen & Bath Association (NKBA), and Houzz to present trends and forcasts for cabinets and countertops.
Kitchen cabinet demand in the United States is projected to increase 5.9% annually until 2021, according to a recent study by the Freedonia Group. The Cleveland-based research firm projects the cabinet market will reach a valuation of $17.1 billion in three years. Tall kitchen cabinet demand is projected to grow annually by 7.7% while base cabinets are projects to grow 5.2% annually.
According to the 2018 Kitchen & Bath Design Trends Report from the National Kitchen & Bath Association (NKBA), paint is the predominant choice for kitchen cabinet and bathroom facing, followed by wood and glass. The NKBA found that cabinet sales were up 2.3% compared to the year-earlier period at the time of the report's release.
The research firm also projects the countertop demand is expected to rise 2% annually through 2022 to 803 million square feet. The gains will largely be from residential remodeling projects as homeowners opt for larger kitchens and multiple bathrooms. The NKBA's trends report finds that quartz is the most preferred option for homeowners, followed by granite and marble. Laminate, while remaining a less-expensive alternative, is not as popular.
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