Study: Demand for countertops is growing
A report from Freedonia Group estimates demand for countertops in the United States will reach 760 million sq. ft. in 2015 -- valued at $24.6 billion.
After falling 2.4% from 2005 to 2010, countertop demand will increase 4.8% from 2010 to 2015, according to the Cleveland-based research firm.
"The countertop industry was hit hard over the last few years as it actually contracted in light of macroeconomic recessionary conditions and a drastic downturn in the housing market," according to the the report, called "Countertops." "A recovery in new housing construction will drive countertop demand, while in the larger remodeling market lower unemployment and greater credit availability will provide incentive for consumers to reinvest in their homes, including countertop installation as part of a kitchen or bathroom remodel."
Residential market will continue to dominate countertop demand, and laminate countertops will continue to lead the market, the Cleveland-based research company predicts.