Demand For Plumbing Products To Grow 3% Per Year Through 2008
Increasing applications in the repair and improvement markets in both residential and nonresidential construction, combined with the trend toward larger bathrooms and kitchens, are expected to drive continued growth in demand for plumbing fixtures and fittings in the United States. Demand is projected to increase by 3% per year through 2008 to $9.6 billion, according to a study from The Freedonia Group, a Cleveland-based industrial market research group.
The demand for plumbing fixtures should reach $4.6 billion in 2008, supported by higher value fixtures such as whirlpool bathtubs and hot tubs. The demand for plumbing fittings is expected to exceed $5 billion in 2008, driven by above-average growth in lavatory fittings. Kitchen and other sink fittings will benefit from kitchen renovations.