US Cabinets Market, Freedonia

  • May 2014
  • -
  • Freedonia
  • -
  • 371 pages

US demand to rise 6.6% annually through 2018

Demand for cabinets in the US is forecast o rise 6.6 percent annually to $16.0 billion in 2018, driven by a rebound in residential building construction expenditures. Rapid advances in new housing completions will fuel demand for cabinetry. Not only will more houses be constructed, but many of these houses will feature larger kitchens and multiple bathrooms, the two rooms where cabinets are most often installed. Further gains will be spurred by the residential improvement and repair market. Increasing
home values and a more favorable lending environment will encourage consumers to engage in home improvement projects, such as cabinet-intensive kitchen and bathroom renovations. Not only will homeowners install more cabinets, but these cabinets will often feature value-added amenities that enhance convenience, such as lightemitting diode lighting, pull-out shelves, storage racks, and easy-to-open doors.

Dominant kitchen cabinet segment to lead gains

Among cabinet types, kitchen cabinets, which accounted for 81 percent of cabinet demand in 2013, are expected to see the fastest growth through 2018, with demand totaling $13.1 billion. In addition to the rebound in residential building construction spending, gains will be spurred by design trends that call for homes to have larger kitchens with such features as islands and breakfast bars. These kitchens are often equipped with more and larger cabinets that provide ample storage space.
Demand for bathroom cabinets is forecast to grow 6.1 percent per year to $1.9 billion in 2018. Advances will be spurred by design trends that call for houses to feature multiple bathrooms. While smaller in size than kitchens, bathrooms feature cabinetry -- such as medicine chests and vanities -- to provide storage space for personal items and cleaning supplies. Demand for other cabinets, such as garage, home office, and home theater cabinets, is expected to advance through 2018, supported by interest in cabinets that serve as attractive storage options compared to open shelving and freestanding furnishings.

Nonresidential market to benefit from solid growth

Through 2018, demand for cabinets in the nonresidential market is anticipated to advance 6.1 percent annually to $3.0 billion. Solid growth in office and commercial construction spending and institutional construction expenditures will boost demand. Hotels, office buildings, and healthcare facilities use cabinets to provide secure yet attractive storage solutions. Moreover, a more favorable economic outlook will support consumer demand, spurring demand for store fixture cabinets. Nonconstruction
demand for cabinets will be promoted by rebounding shipments of recreational boats, business jets, and recreational vehicles. Cabinets are installed in these craft to make them better resemble residences.

Domestic cabinet production to grow

The US cabinet industry is characterized by relatively low levels of foreign trade, with imports accounting for about six percent of demand in 2013 and exports only one percent of shipments. Going forward, domestic production of cabinets is forecast to grow, as manufacturers take advantage of low-cost natural gas to relocate production sites to the US and expand those facilities already here.

Study coverage

This upcoming industry study presents historical demand data for 2003, 2008 and 2013, plus forecasts for 2018 and 2023 by material, cabinet type, market and region. The study also considers key market environment factors, assesses US industry structure, evaluates company market share and profiles 36 industry participants.

Table Of Contents

INTRODUCTION xi
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Macroeconomic Environment 5
Demographic Trends 9
Consumer Trends 14
Consumer Spending 14
Consumer Financing 17
Building Construction 20
Residential Buildings 23
Housing Completions 25
Housing Stock 30
Improvements and Repairs 34
Nonresidential Buildings 35
New 36
Nonresidential Building Stock 38
Improvements and Repairs 40
Transportation Equipment Shipments 42
Historical Market Trends 45
Pricing 49
Regulatory and Environmental Trends 52
Environmental Issues 53
Green Building Standards 55
Emissions Regulations 57
Environmental and Other Certifications 60
US Foreign Trade 62
Imports 64
Exports 67
World Cabinets Overview 69
III. MATERIALS 71
General 71
Wood-Based Materials 73
Lumber 76
Engineered Wood 80
Particleboard 84
Plywood 86
MDF 89
Other Engineered Wood 92
Wood Veneer 93
Nonwood Materials 96
Decorative Laminates 98
Material Characteristics 100
Material Development 103
Metal 104
Glass and Other Materials 107
IV. PRODUCTS 110
General 110
Kitchen Cabinets 114
Kitchen Cabinet Characteristics 116
Demand by Market 121
Demand by Construction Method 124
Stock 126
Semicustom 129
Custom 133
Demand by Material 136
Bathroom Cabinets 138
Vanities 142
Other Bathroom Cabinets 144
Demand by Material 148
Other Cabinets 149
Store Fixture Cabinets 152
All Other Cabinets 153
Entertainment Center Cabinets 155
Home Office Cabinets 156
Garage Cabinets 157
Other Home Cabinets 158
Miscellaneous Cabinets 158
Demand by Material 159
V. MARKETS 162
General 162
Demand by Market and Application 163
Demand by Product and Material 166
Residential 170
New 173
Improvements and Repairs 176
Demand by Material 182
Demand by Housing Type 184
Single-Family 186
Multifamily 188
Manufactured Housing 190
Nonresidential 191
New 194
Improvements and Repairs 197
Demand by Material 200
Demand by Building Type 202
Office and Commercial 203
Institutional 205
Other 207
Nonconstruction 209
Demand by Product and Application 210
Demand by End Use 212
Demand by Material 215
VI. REGIONS 216
General 216
Regional Demographic and Economic Activity 217
Economic Outlook 218
Population Patterns 221
Construction Activity 225
Housing Trends 228
Regional Demand for Cabinets 231
Northeast 233
New England 236
Middle Atlantic 237
Midwest 239
East North Central 243
West North Central 245
South 246
South Atlantic 249
East South Central 251
West South Central 252
West 253
Mountain 256
Pacific 258
VII. INDUSTRY STRUCTURE 260
General 260
Industry Composition 261
Market Share 264
Competitive Strategies 270
Product Development 273
Manufacturing 277
Plant Openings and Closures 277
Raw Materials 278
Manufacturing Technologies 279
Marketing 281
Distribution 285
Mergers and Acquisitions 289
Cooperative Agreements 292
Company Profiles 294
ACProducts Incorporated 295
Adelphi Kitchens Incorporated 297
Adorn Door, see Patrick Industries
American Woodmark Corporation 298
Aristokraft Cabinetry, see Fortune Brands
Home and Security
Armstrong Cabinet Products, see ACProducts
Armstrong World Industries Incorporated 301
Barbosa Cabinets Incorporated 302
Bertch Cabinet Manufacturing Incorporated 303
Broan-NuTone Storage Solutions, see Rangaire
Manufacturing
Canyon Creek Cabinet, see Sumitomo Forestry
Conestoga Wood Specialties Corporation 305
Crystal Cabinet Works Incorporated 307
Decora Cabinetry, see Fortune Brands Home and Security
Diamond Cabinetry, see Fortune Brands Home and Security
Dura Supreme Incorporated 309
Elkay Manufacturing Company 311
Foremost Groups Incorporated 314
Fortune Brands Home and Security Incorporated 316
Grandview Products Company Incorporated 324
Groupe Cabico Incorporated 325
Haas Cabinet Company Incorporated 326
Homecrest Cabinetry, see Fortune Brands Home and
Security
Huntwood Industries Incorporated 327
Impresa Technologies, see Conestoga Wood Specialties
Interior Components Plus, see Patrick Industries
Kemper Distinctive Cabinetry, see Fortune Brands
Home and Security
Kent Moore Cabinets Limited 329
Kitchen Kompact Incorporated 330
Kitchen Craft Cabinetry, see Fortune Brands
Home and Security
Kohler Company 331
Lanz Cabinet Shop Incorporated 333
Lozier Corporation 334
Marsh Furniture Company 335
Masco Corporation 337
MasterBrand Cabinets, see Fortune Brands
Home and Security
MasterCraft, see Elkay Manufacturing
Mid Continent Cabinetry, see Norcraft Companies
Middlebury Hardwood Products, see Patrick Industries
Middleby Corporation 342
Norcraft Companies Incorporated 344
Nortek Incorporated 347
Omega Cabinetry, see Fortune Brands Home and Security
Pace Industries Incorporated 348
Patrick Industries Incorporated 349
Rangaire Manufacturing Company LP 351
Republic Industries Incorporated 352
Robern, see Kohler
Royal Industries Incorporated 354
RSI Home Products Incorporated 355
Schrock Cabinetry, see Fortune Brands Home and Security
Signature Custom Cabinetry Incorporated 358
Slide-Lok Modular Storage Systems Incorporated 359
StarMark Cabinetry, see Norcraft Companies
Sumitomo Forestry Company Limited 360
Sunriver Industries, see Conestoga Wood Specialties
UltraCraft Cabinetry, see Norcraft Companies
Urban Effects, see Norcraft Companies
Viking Range, see Middleby
Wellborn Cabinet Incorporated 362
Woodcrafters Home Products, see Fortune Brands
Home and Security
Wood-Mode Incorporated 366
Other Companies Mentioned in Study 368

LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators 9
2 Population and Households 13
3 Personal Consumption Expenditures 17
4 Consumer Financing Environment, 2003-2013 20
5 Building Construction Expenditures 23
6 Residential Building Construction Expenditures 25
7 New Housing Indicators 30
8 Housing Stock by Type 33
9 Residential Improvement and Repair Expenditures 35
10 Nonresidential Building Construction Expenditures 38
11 Nonresidential Building Stock 40
12 Nonresidential Building Improvement and Repair Expenditures 42
13 Transportation Equipment Shipments 45
14 US Cabinet Market, 2003-2013 48
15 US Cabinet Foreign Trade 64
SECTION III -- MATERIALS
1 Materials Used in Cabinet Production 73
2 Wood-Based Materials Used in Cabinet Production 76
3 Lumber Use in Cabinet Production 80
4 Engineered Wood Use in Cabinet Production 83
5 Wood Veneer Use in Cabinet Production 95
6 Nonwood Materials Used in Cabinet Production 98
7 Decorative Laminates Used in Cabinet Production 100
8 Metal Used in Cabinet Production 106
9 Glass and Other Materials Used in Cabinet Production 109
SECTION IV -- PRODUCTS
1 Cabinet Supply and Demand 114
2 Kitchen Cabinet Demand by Market 124
3 Kitchen Cabinet Demand by Construction Method 126
4 Stock Kitchen Cabinet Demand by Market 129
5 Semicustom Kitchen Cabinet Demand by Market 133
6 Custom Kitchen Cabinet Demand by Market 136
7 Kitchen Cabinet Demand by Material 138
8 Bathroom Cabinet Demand by Market and Type 142
9 Bathroom Vanity Demand by Market 144
10 Other Bathroom Cabinet Demand by Market 148
11 Bathroom Cabinet Demand by Material 149
12 Other Cabinet Demand by Market and Type 152
13 All Other Cabinet Demand by Type 155
14 Other Cabinet Demand by Material Type 161
SECTION V -- MARKETS
1 Cabinet Demand by Market and Application 166
2 Cabinet Demand by Product and Material 169
3 Residential Cabinet Demand by Product and Application 173
4 New Residential Cabinet Demand by Product 176
5 Residential Improvement and Repair
Cabinet Demand by Product 182
6 Residential Cabinet Demand by Material 184
7 Residential Cabinet Demand by Housing Type 185
8 Single-Family Housing Cabinet Demand 188
9 Multifamily Housing Cabinet Demand 189
10 Manufactured Housing Cabinet Demand 191
11 Nonresidential Building Cabinet Demand
by Product and Application 194
12 New Nonresidential Building Cabinet Demand by Product 197
13 Nonresidential Building Improvement and Repair
Cabinet Demand by Product 200
14 Nonresidential Building Cabinet Demand by Material 202
15 Nonresidential Building Cabinet Demand by Building Type 203
16 Office and Commercial Cabinet Demand by Application 205
17 Institutional Cabinet Demand by Application 207
18 Other Nonresidential Building Cabinet Demand
by Building Type and Application 209
19 Nonconstruction Cabinet Demand
by Product Type and Application 212
20 Nonconstruction Cabinet Demand by End Use 214
21 Nonconstruction Cabinet Demand by Material 215
SECTION VI -- REGIONS
1 Gross Domestic Product by Region 221
2 Population by Region 225
3 Construction Expenditures by Region 228
4 Regional Housing Indicators 231
5 Cabinet Demand by Region 232
6 Northeast Cabinet Demand by Subregion and Market 236
7 Midwest Cabinet Demand by Subregion and Market 243
8 South Cabinet Demand by Subregion and Market 248
9 West Cabinet Demand by Subregion and Market 256
SECTION VII -- INDUSTRY STRUCTURE
1 US Cabinet Revenues for Selected Manufacturers, 2013 263
2 Selected Acquisitions and Divestitures 291
3 Selected Cooperative Agreements 293

LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT
1 Year of Construction of Housing Stock, 2013 33
2 Cabinet Market, 2004-2013 49
3 Cabinet Pricing, 2003-2023 52
4 US Cabinet Imports by Source, 2013 67
5 US Cabinet Exports by Destination, 2013 69
SECTION III -- MATERIALS
1 Engineered Wood Use in Cabinet Production, 2013 84
SECTION VI -- REGIONS
1 Cabinet Demand by Region, 2013 233
SECTION VII -- INDUSTRY STRUCTURE
1 US Cabinet Market Share, 2013 265
2 US Cabinet Distribution Channels, 2013 289

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