According to a recent study on the cabinets industry, the demand for custom kitchen cabinets, with unit demand totaling 101.8 million, is projected to rise 4.6% annually to $17.3 billion in 2023.
In line with the research firm, gains are going to be supported by: homeowner interest in installing more and bigger cabinets to produce additional storage space; design trends, like islands and counter-style seating, which incorporate more cabinets into residential kitchens; and manufacturer efforts to incorporate more amenities into cabinets, like LED lighting, pull-out shelves, and racks, that help boost the typical sale price.
As consumers increasingly choose these cabinets, tall and wall cabinets will post the more rapid demand gains to produce increased cupboard space rather than such options as open shelving and racks, although base cabinets account for the most important share of inner circle demand.
By 2023, demand for tall cabinets is seen to grow 5.0% annually to $2.8 billion, Freedonia projects. Demand for tall cabinets is going to be boosted by consumer desire for more space for storing food and little appliances, and to make visual contrasts to base and wall cabinets in kitchens.
In other news, a coalition of U.S. pack manufacturers petitioned for and received in April relief within the sort of antidumping and countervailing duties starting from 13.33% to 269.91%, with a median of 58.89% for many importers.
The American camp Alliance, backed by the ingroup Manufacturers Assn., is now urging the DOC and Customs and Border Protection to analyze alleged fraud from China.
- As the country exported $741.130 million and imported $257.7816 million in 2019, Canada’s balance for wood kitchen cabinetry and countertops dropped 5%. The US remains the highest trading partner.
- Fallen to 10th was NKBA’s Design Trends 2021 notes perennial top 3 favorite traditional. Meanwhile, leapfrogged into the highest three was Organic/Natural, which placed 9th last year. Nearly 50% identified it as an up-and-coming style. The only higher were Transitional, at 53%, and Contemporary, at 55%.
- U.S. cabinet and countertop sales are expected to determine a rebound after the coronavirus shelter-in-place orders caused sales to plummet, in line with Catalina Research, which projects a 4.6% CAGR to 2025.
- In line with the CMA’s recent Benchmark Survey, frameless cabinetry continues to be more popular than face-frame construction by small and mid-size shops.
- Residential accounts for quite 80% of the cupboard demand, in step with The Freedonia Group’s Cabinets study. Commercial applications account for 15% and non-construction is 2%.
- The world countertop market is forecast to rise 2.6% p.a. to 602 million square meters in 2024, per The Freedonia Group’s Global Countertops study. Although engineered stone will see the fastest growth, the solid surface will remain the leading countertop material. By their rising popularity and increased access to marble and travertine in Central and South America, demand for marble/natural stone countertops is going to be bolstered. As the material continues to lose market share to higher-end materials in North America and Western Europe, Laminates will experience the slowest growth of any major countertop material through 2024.
- With moderate growth projected over the subsequent five years, the worldwide modular kitchen market reached $33 billion in 2019, consistent with IMARC Group. Demand is being driven by their flexibility, design, easy assembly, and repair.
- Cabinet sales were down 1.8%, per the KCMA’s monthly Trend of Business Survey, although business appears to be improving, year-to-date (through August). stock sales are up slightly at 2.2% YTD, semi-custom sales decreased by 7.1%, and custom sales decreased by 3.3%.