Demand for plumbing fixtures and fittings in the United States will rise 7.1% per year to $10.9 billion in 2015, according to a new study by The Freedonia Group.
According to a new study byThe Freedonia Group, the demand for
plumbing fixtures and fittings in the United States will rise 7.1% per
year to $10.9 billion in 2015, spurred by a recovery in building construction
expenditures from a low 2010 base. From the 2007-2010 downturn in housing
construction, many builders installed fewer and smaller bathrooms and stocked
them with less-expensive fixtures and fittings in new houses.
The new residential market will see the largest
growth in plumbing fixtures and fittings demand because of a rise in housing
completions, the study noted, although remodeling and repair applications will
stay the largest market through 2015. In the nonresidential market, plumbing
product demand will be sparked by rebounding construction activity.
The study projected fixtures demand will rise
8.7% annually to $5.9 billion in 2015, primarily in higher-priced products such
as hot tubs, spas, whirlpool bathtubs, cast polymer lavatories and large
Plumbing fittings demand will rise 5.3% per
year to $5 billion, the study reported. Metal prices, which rose quickly
between from 2005 to 2010, are expected to grow at a more modest pace through
2015, suppressing advances. Growth in value demand for plumbing fittings will
be seen as an increasing share of supply coming from low-priced imports.
However, rebounding building construction
expenditures will boost gains, as will an increasing consumer interest in
low-flow fittings that reduce water use and lower utility bills.