Demand Seen Increasing for H-P Laminate

by WOHe

Demand Seen Increasing for H-P Laminate

Cleveland, OH A “long-term demand for hot markets” like laminate
flooring, coupled with a continued growth in kitchen and bathroom
remodeling, will result in a steady increase in U.S. demand for
decorative laminate over the next three years, a major new study
has concluded.

The study, conducted by the Cleveland, OH-based research firm,
The Freedonia Group, Inc., found that U.S. demand for decorative
laminate “sensitive to overall economic trends and to the new
construction and remodeling sectors of the economy” will advance
nearly 5% per year, to 13.3 billion sq. ft., or a value of almost
$5 billion, by the year 2003.

The most rapid growth, according to the company, will occur in
the area of high-pressure laminate, due to the “strong” performance
of laminate flooring as a rapidly emerging product category that is
expected to post annual double-digit (15.8%) growth through
2003.

At the same time, The Freedonia Group reported “more mature”
high-pressure laminate products such as kitchen and bath
countertops will record “significantly lower” rates of growth (an
expected 5.7% annually) over the same time span.

The company noted, however, that while high-pressure laminate
will continue to record higher-than-average growth, the growth rate
will, nevertheless, represent a slowdown from the strong
construction industry recovery of the mid-1990s.

“Growth is also being impacted by the increasing trend toward
using low-pressure laminates in a number of horizontal applications
which were formerly almost the exclusive province of high-pressure
laminates, due to the latter’s higher scratch, dent and stain
resistance,” The Freedonia Group said.

The research firm added that low-pressure laminate will continue
to account for the majority of total laminate demand, and that the
kitchen/bath market will continue to represent the largest market
segment for decorative laminates.

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