U.S. Plumbing Fixtures, Fittings Demand To Reach $11 Billion
According to a new study by The 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 restaurant-style sinks.
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.