This study analyzes the US hard surface flooring industry. It presents historical demand data for 2002, 2007 and 2012, and forecasts for 2017 and 2022 by material type (e.g., vinyl, tile, laminate, wood) and market (residential buildings, nonresidential buildings, transportation equipment). The study also considers market environment factors, details industry structure, evaluates company market share, and profiles industry competitors.
US demand to rise 5% annually through 2017
US demand for hard surface flooring is forecast to rise 5.0 percent per year to 9.3 billion square feet in 2017, valued at $13.8 billion. Advances will be primarily driven by a rebound in building construction expenditures, but will also be spurred by increasing consumer interest in alternatives to traditional carpets and rugs. While often more costly initially, hard surface flooring offers performance advantages, such as a longer lifespan and less maintenance than carpeting. In terms of aesthetics, many consumers find such flooring types as hardwood, luxury vinyl tile (LVT), and porcelain and stone tiles more attractive than carpet.
Vinyl, decorative tile to exhibit strongest gains
Among all hard surface flooring types, vinyl flooring and decorative tile are expected to register the strongest gains through 2017. Vinyl flooring demand will be spurred by heightened usage of LVT. Consumers will increasingly opt for LVT because it offers the durability and performance properties of traditional vinyl flooring products, but features a high-gloss appearance and can be made to look like more costly material such as wood or natural stone.
Tile demand will be boosted by consumer desire for durable, low-maintenance flooring. Low-cost ceramic tile will continue to account for the largest share of demand, but natural stone and porcelain tile are expected to see the fastest growth of all tile types. Homeowners will select natural stone tile because of its favorable aesthetics, while nonresidential consumers will install porcelain tiles because of their durability, slip resistance, low cost, and ability to look like more costly stone or wood.
Imports will account for more than one half of hard surface flooring demand in 2017. Decorative tile and vinyl flooring made in such low-cost nations as China account for the largest share of imports, as well as stone tile quarried from such countries as Brazil and Turkey. However, shipments of hard surface flooring will see gains as manufacturers take advantage of low natural gas prices to expand US-based production sites and relocate manufacturing facilities to the US.
Nonresidential market to be fastest growing
The nonresidential market is forecast to see the most rapid gains in hard surface flooring demand through 2017. The office and commercial segment will post the strongest growth during this time, fueled by double-digit advances in construction spending and rising interest in hard surface flooring as a low-maintenance alternative to carpeting. Demand for vinyl flooring and decorative tile will ad- vance at the fastest pace due to desirable performance properties such as resistance to slips and biological contamination, especially in institutional structures.
In the residential market, the new housing segment will see the strongest advances as housing completions rise from their low 2012 base. The improvement and repair segment will continue to account for the larger share of demand as home- owners replace older or worn carpeting with more durable and aesthetically pleasing hard surface flooring. Rebounding motor vehicle and recreational boat and vehicle shipments will promote hard surface flooring demand in the transportaion market.
Company Profiles for US industry competitors including Armstrong World Industries, Mannington Mills, Mohawk, Shaw, and Tarkett
This study examines the US hard surface flooring industry by product and market. Products covered by the study include resilient flooring (vinyl sheet, luxury vinyl tile, and vinyl composition tile and other types) and nonresilient flooring (tile, wood flooring, laminate flooring, and other types). Historical data are provided for 2002, 2007, and 2012 with forecasts for the years 2017 and 2022. “Demand” is defined as production plus imports, minus exports. This is synonymous with terms such as “sales” and “consumption.” Data are presented in millions of square feet and millions of US dollars.
Information and data on the hard surface flooring industry were obtained from a variety of primary and secondary sources. Consultations with producers, end users, consultants, industry specialists, and trade association personnel were pursued. Secondary data were obtained from government, trade associations, and other private sources. Corporate information sources included annual reports, SEC Form10-K filings, product releases, prospectuses, and conversations with responsible officers within the companies themselves. Publications consulted for background information included ENR/Engineering News-Record, Floor Covering Weekly, Floor Focus, Plastics News, The Journal of Light Construction, and Tile Dealer.