China’s demand for kitchen countertops and bathroom countertops will increase by 7.3% annually, reaching 92.2 million square meters, but it is surprising that most of the materials that should be developed are in a weak state.
This is a report from the Fredonia Group. It is estimated that China’s countertop market value will reach 26.7 billion (US$3.39 billion) in 2010. The completion of new houses and the renovation of kitchens and bathrooms have stimulated the growth of material demand. The expansion of kitchens and the construction of more new bathrooms will further stimulate market development.
The study pointed out that the most popular material in the Chinese market, somewhat unexpectedly, is a solid surface. In 2000, China’s solid surface materials accounted for only 3% of newly installed home countertops, and by 2010, the demand for solid surfaces accounted for nearly half of the market share.
As the price drops, consumers’ recognition of its durability, repairability, attractive appearance, and minimal care needs has made solid surfaces flourish.
The study pointed out that the engineering stones introduced to the Chinese market in 2002 will also be developed, albeit at a slow pace. The rapid decline in the price of quartz makes it a good choice.
In terms of quantity, natural stone, the second-largest market in 2010, will grow at a rate of less than 2% per year, and rolled materials will grow at a rate of less than 3% per year. The demand for ceramic tiles remained flat at 14 million square meters. The market share of all these materials will be occupied by more popular solid surface and engineered stone materials!
In China, most of the countertops are installed in newly built residential areas. In 2005, this market accounted for more than 70% of the market share. However, the demand for China’s housing renovation market will continue to grow rapidly and will grow at a rate of more than 10% per year, and it is expected to exceed 30 million square meters in 2010!