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US demand to expand 7.4% annually through 2014
US demand for cabinets is forecast to expand 7.4 percent per year to $15.2 billion in 2014. Gains will be spurred by the rebound in housing completions from the depressed levels of 2009, reflecting the sharp declines in housing completions between 2007 and 2009. Although housing completions will remain below the level reached at their cyclical peak in 2006, the recovery will fuel above average gains in the residential cabinets market through 2014.
Kitchen cabinets to offer best growth opportunities
Kitchen cabinets, which represented about 80 percent of cabinet shipments in 2009, are expected to post the most rapid advances through 2014. The projected rebound in housing completions through 2014 will drive gains. Growth will also be supported by design trends that call for homes with more and larger-sized cabinets to store food products and kitchen equipment. Many homeowners will also install cabinets with such value added amenities as pull-out shelves, racks and lazy Susans to enhance kitchen convenience. Shipments of bathroom cabinets are forecast to grow at an above average pace through 2014. Advances will primarily be supported by rebounding housing completions. Design trends that call for homes with larger master bathrooms and larger cabinets to store personal items and medications will also promote gains. Shipments of other cabinets, such as those found in offices, home entertainment centers, laundry and mud rooms, garages and other areas, are expected to rise more than three percent annually through 2014. Advances will be promoted by increasing use of cabinets in these areas instead of shelving.
Residential buildings to remain dominant market
Residential buildings were the largest market for cabinets in 2009, with about three-quarters of total demand. The residential market will continue to hold this leading position through 2014, given its greater intensity of cabinet use compared to other markets. While new housing will lead advances, the improvement and repair segment will continue to account for the majority of residential demand. Not only is there a large stock of older homes requiring cabinet replacement, but kitchen and bathroom renovation projects -- including the replacement of cabinets -- are often undertaken by homeowners to improve the aesthetics or add value to their homes. Through 2014, demand for cabinets in the nonresidential market is anticipated to rise 2.8 percent annually. Concerns about price and performance generally play a larger role in cabinet selection than aesthetics in most nonresidential structures. Thus, cabinets are replaced much less frequently. Growth will be derived from continued institutional construction spending and a rebound in office and commercial construction spending. Rising shipments of boats and recreational vehicles from a low 2009 base will boost demand for cabinets in the nonconstruction market. The US cabinet industry is characterized by relatively low levels of foreign trade, with imports accounting for less than five percent of demand in 2009 and exports approximately one percent of shipments. US foreign trade in cabinets is limited by many factors, such as the cost of shipping fully assembled cabinets and variations in style preferences between the US and other countries. Through 2014, cabinet shipments are expected to rise over seven percent per year, as domestic manufacturers increase production efforts to meet rising demand for cabinetry.
Study coverage
This industry study presents historical demand data (1999, 2004 and 2009) and forecasts for 2014 and 2019 by material, product, market and US region. The study also considers market environment factors, evaluates company market share and profiles industry competitors.
INTRODUCTION xi
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Macroeconomic Environment 5
Demographic Trends 8
Consumer Trends 12
Personal Income & Expenditures 13
Consumer Financing 15
Building Construction 18
Residential Buildings 19
Housing Completions 21
Improvements & Repairs 26
Housing Stock 28
Nonresidential Buildings 32
New 32
Improvements & Repairs 35
Nonresidential Building Stock 37
Transportation Equipment 39
Historical Market Trends 42
Pricing 45
Regulatory Environment 47
Environmental Issues 48
Certification 52
Other Issues 53
World Cabinetry Industry 54
US Foreign Trade 55
Imports 56
Exports 59
III. MATERIALS 62
General 62
Wood-Based Materials 64
Lumber 66
Engineered Wood 69
Particleboard 73
Plywood 75
Medium Density Fiberboard 77
Other 80
Wood Veneer 81
Nonwood Materials 83
Decorative Laminates 86
Material Characteristics 88
Material Development 89
Metal 90
Glass & Other Materials 92
IV. PRODUCTS 95
General 95
Kitchen Cabinets 98
Kitchen Cabinet Characteristics 100
Shipments by Market 103
Shipments by Construction Method 106
Stock 108
Semicustom 111
Custom 114
Shipments by Material 117
Bathroom Cabinets 119
Vanities 122
Vanity Characteristics 125
Product Development 125
Other Bathroom Cabinets 127
Shipments by Material 131
Other Cabinet Products 133
Store Display Cabinets 135
All Other Cabinets 136
Entertainment Center Cabinets 137
Home Office Cabinets 138
Other Home Cabinets 139
Garage Cabinets 140
Miscellaneous Cabinets 141
Shipments by Material 141
V. MARKETS 144
General 144
Demand by Market & Application 145
Demand by Product & Material 148
Residential 150
New 153
Improvement & Repair 156
Demand by Material 161
Demand by Housing Type 162
Single-Family 164
Multifamily 166
Manufactured Housing 167
Nonresidential 169
New 171
Improvement & Repair 174
Demand by Material 176
Demand by Building Type 178
Office & Commercial 179
Institutional 181
Industrial & Other 183
Nonconstruction 185
Demand by Application 186
Demand by Material 188
VI. REGIONS 190
General 190
Regional Demographic & Economic Trends 191
Population Patterns 192
Economic Outlook 194
Regional Construction Activity 196
Housing Trends 199
Regional Demand for Cabinets 202
Northeast 204
New England 206
Middle Atlantic 207
Midwest 208
East North Central 210
West North Central 212
South 213
South Atlantic 215
East South Central 217
West South Central 218
West 220
Mountain 222
Pacific 223
VII. INDUSTRY STRUCTURE 225
General 225
Industry Composition 226
Market Share 230
Competitive Strategies 235
Product Development 238
Manufacturing 241
Plant Closures 241
Raw Materials 242
Manufacturing Technologies 243
Efficiency Maximizations 244
Environmental Considerations 245
Marketing 246
Distribution 249
Mergers, Acquisitions & Cooperative Agreements 253
Company Profiles 256
Adelphi Kitchens Incorporated 257
Adorn Door, see Patrick Industries
American Woodmark Corporation 259
Aristokraft Cabinetry, see Fortune Brands
Armstrong World Industries Incorporated 263
Barbosa Cabinets Incorporated 265
Bertch Cabinet Manufacturing Incorporated 266
Broan-NuTone Storage Solutions, see Nortek
Cabinetry by Karman, see Wellborn Cabinet
Canyon Creek Cabinet Company 268
Capital Cabinet, see Fortune Brands
Cardell Kitchen and Bath Cabinetry 270
Conestoga Wood Specialties Corporation 271
Crystal Cabinet Works Incorporated 272
Decora Cabinetry, see Fortune Brands
Diamond Cabinetry, see Fortune Brands
Dura Supreme Incorporated 274
Elkay Manufacturing Company 275
Eurodesign Cabinets, see Royal Industries
Fortune Brands Incorporated 279
Grandview Products Company Incorporated 287
Groupe Cabico, see Republic National Cabinet
Haas Cabinet Company Incorporated 288
HomeCrest Cabinetry, see Fortune Brands
Huntwood Industries 290
Kemper Distinctive Cabinetry, see Fortune Brands
Kitchen Craft Cabinetry, see Fortune Brands
Kitchen Kompact Incorporated 291
Kohler Company 293
KraftMaid Cabinetry, see Masco
Legacy Cabinets, see Republic National Cabinet
Lozier Corporation 296
Luxury Custom Cabinetry, see Wellborn Cabinet
Marsh Furniture Company 297
Masco Corporation 299
MasterBrand Cabinets, see Fortune Brands
MasterCraft Cabinets, see Elkay Manufacturing
McConnell Cabinets Incorporated 303
Medallion Cabinetry, see Elkay Manufacturing
Merillat Industries, see Masco
Mid Continent, see Norcraft Companies
Norcraft Companies LP 305
Nortek Incorporated 310
Omega Cabinetry, see Fortune Brands
Pace Industries Incorporated 312
Patrick Industries Incorporated 313
Prestige Cabinets, see RSI Holding
Quality Cabinets, see Masco
Republic National Cabinet Corporation 314
Robern, see Kohler Company
Royal Industries Incorporated 317
RSI Holding Corporation 319
Schrock Cabinetry, see Fortune Brands
Schuler Cabinetry, see Elkay Manufacturing
StarMark Cabinetry, see Norcraft Companies
Sunshine Kitchens, see Republic National Cabinet
UltraCraft, see Norcraft Companies
Viking Range Corporation 322
Wellborn Cabinet Incorporated 323
Woodcrafters Home Products LLC 325
Wood-Mode Incorporated 327
Yorktowne, see Elkay Manufacturing
Additional Companies Mentioned in Study 329
LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators 8
2 Population & Households 12
3 Personal Consumption Expenditures 14
4 Consumer Financing Environment, 1999-2009 18
5 Residential Building Construction Expenditures 21
6 New Housing Indicators 26
7 Residential Improvement & Repair Expenditures 28
8 Housing Stock by Type 31
9 Nonresidential Building Construction Expenditures 35
10 Nonresidential Building Improvement & Repair Expenditures 36
11 Nonresidential Building Stock 39
12 Transportation Equipment Shipments 42
13 Cabinet Market, 1999-2009 44
14 US Cabinet Foreign Trade 56
SECTION III -- MATERIALS
1 Materials Used in Cabinet Production 63
2 Wood-Based Materials Used in Cabinet Production 66
3 Lumber Used in Cabinet Production 69
4 Engineered Wood Used in Cabinet Production 72
5 Wood Veneer Used in Cabinet Production 83
6 Nonwood Materials Used in Cabinet Production 85
7 Decorative Laminates Used in Cabinet Production 87
8 Metal Used in Cabinet Production 92
9 Glass & Other Materials Used in Cabinet Production 94
SECTION IV -- PRODUCTS
1 Cabinet Supply & Demand 98
2 Kitchen Cabinet Shipments by Market 106
3 Kitchen Cabinet Shipments by Construction Method 108
4 Stock Kitchen Cabinet Shipments by Market 111
5 Semicustom Kitchen Cabinet Shipments by Market 114
6 Custom Kitchen Cabinet Shipments by Market 117
7 Kitchen Cabinet Shipments by Material 119
8 Bathroom Cabinet Shipments by Market & Type 122
9 Vanity Shipments by Market 124
10 Other Bathroom Cabinet Shipments by Market 131
11 Bathroom Cabinet Shipments by Material 132
12 Other Cabinet Shipments by Market & Type 135
13 All Other Cabinet Shipments by Type 137
14 Other Cabinet Shipments by Material 143
SECTION V -- MARKETS
1 Cabinet Demand by Market & Application 147
2 Cabinet Demand by Product & Material 150
3 Residential Cabinet Demand by Product & Application 153
4 New Residential Cabinet Demand by Product 156
5 Improvement & Repair residential Cabinet Demand by Product 160
6 Residential Cabinet Demand by Material 162
7 Residential Cabinet Demand by Housing Type 164
8 Single-Family Housing Demand for Cabinets 166
9 Multifamily Housing Demand for Cabinets 167
10 Manufactured Housing Demand for Cabinets 169
11 Nonresidential Building Cabinet Demand
by Product & Application 171
12 New Nonresidential Building Cabinet Demand by Product 174
13 Improvement & Repair Nonresidential Building
Cabinet Demand by Product 176
14 Nonresidential Building Cabinet Demand by Material 178
15 Nonresidential Building Cabinet Demand by Building Type 179
16 Office & Commercial Cabinet Demand by Application 181
17 Institutional Cabinet Demand by Application 183
18 Industrial & Other Nonresidential Building Cabinet Demand
by Building Type & Application 185
19 Nonconstruction Cabinet Demand by Product & Application 188
20 Nonconstruction Cabinet Demand by Material 189
SECTION VI -- REGIONS
1 Population by Region 194
2 Gross Domestic Product by Region 196
3 Construction Expenditures by Region 199
4 Regional Housing Indicators 201
5 Cabinet Demand by Region 203
6 Northeast Cabinet Demand by Subregion & Market 206
7 Midwest Cabinet Demand by Subregion & Market 210
8 South Cabinet Demand by Subregion & Market 215
9 West Cabinet Demand by Subregion & Market 222
SECTION VII -- INDUSTRY STRUCTURE
1 US Cabinet Revenues for Selected Manufacturers, 2009 228
2 Selected Cooperative Agreements 255
LIST OF CHARTS
SECTION II -- MARKET ENVIRONMENT
1 Cabinet Market, 2000-2009 45
2 Cabinet Pricing, 1999-2019 47
3 US Cabinet Imports by Source, 2009 59
4 US Cabinet Exports by Destination, 2009 61
SECTION III -- MATERIALS
1 Engineered Wood Used in Cabinet Production, 2009 73
SECTION VI -- REGIONS
1 Cabinet Demand by Region, 2009 204
SECTION VII -- INDUSTRY STRUCTURE
1 US Cabinet Market Share by Company, 2009 230
2 US Cabinet Distribution Channels, 2009 253
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Nicolas Bombourg |
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