Demand for hard surface flooring in the United States is expected to advance 5.5 percent per year through 2009, according to a study conducted by Cleveland-based market research firm the Freedonia Group.
According to the study, hard surface flooring is expected to gain significant market share from carpets and rugs, driven by growing consumer preferences for high-end products such as laminates, ceramic and natural stone tile and wood, as well as increasing interest in natural and environmentally responsible products such as natural stone, wood, cork and bamboo.
Trends toward high-end, value added products will help boost gains, although price increases are expected to moderate the effect due to market maturity and intense price competition from imports.
Through 2009, the Freedonia study predicts that vinyl flooring will continue to be the leading hard surface flooring product. Laminate flooring is expected to increase its share of the hard surface flooring market and provide the best opportunity for growth through 2009.
According to the study, the residential building market is expected to provide the best opportunities for hard surface flooring, with demand rising 6.9 percent per year for the next four years. Despite a decline in single-family housing activity, gains in multi-family and manufactured housing construction will aid growth.