US demand to reach $11 billion in 2013 US demand for plumbing fixtures andfittings is expected to grow three percentannually through 2013 to $11 billion.Gains will be driven by the reboundingUS residential construction market, ashousing completions rise from the lowlevels experienced in 2008. Continuingconsumer interest in having homes withmore and larger bathrooms will promotedemand for fixtures and associatedfittings. Further gains in demand will bedriven by increasing consumer desire forfixtures and fittings that reduce water use.
Gains in plumbing product shipmentswill lag that of demand as imports expandat a rapid pace. The bulk of plumbingproduct imports will continue to be fromAsian manufacturers with lower productioncosts. Low-cost Latin Americanproducers and European manufacturers ofhigh-end products will also see increasesin market penetration. In 2008, importscomprised 30 percent of US fittingsdemand and 15 percent of US fixturesdemand. Both fixtures and fittings willsee strong import growth through 2013.
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Fittings demand to outpace fixtures through 2013 Demand for plumbing fittings is projectedto rise 3.5 percent per year to $5.1 billionin 2013. The residential market willaccount for the majority of these gains, asrebounding housing completions andconsumer interest in bathroom renovationprojects promote advances in demand.Advances in fittings demand will be ledby increasing interest in low-flow fittingsthat reduce water consumption and lowerutility bills. Further gains in demand willbe promoted by interest in products thatmeet the standards for universal access,or products that can easily be used by allsegments of the population. Thus, olderfittings will be replaced with models thatare easier for older Americans or thedisabled to use. However, value demandgains will be checked by metal prices,which are forecast to fall through 2013.
Demand for plumbing fixtures will grow2.6 percent yearly to $5.9 billion in 2013.Gains will be driven by rising consumerdemand for such high-end products aswhirlpool bathtubs and hot tubs and spas,which are perceived to add luxury andvalue to homes. Further gains in demandwill be promoted by consumer desire forhomes with multiple bathrooms. Thesebathrooms are usually outfitted with sinkand toilet fixtures, and many of them alsohave bathtubs or shower stalls. In thenonresidential market, advances will berestrained by weakness in constructionexpenditures, as building projects arescaled back or cancelled altogether.
Residential market to remain dominantThe residential market accounted for 64percent of plumbing product demand in2008. Through 2013, this segment willpost above-average demand gains, ashousing completions advance and homeownerscontinue to upgrade their homesby adding to and increasing the numberof their bathrooms, and expanding andmodernizing their kitchens. Theseprojects often call for the replacement ofmany fixtures and fittings.
Demand for plumbing fixtures andfittings in the nonresidential building constructionmarket will post below-averagegains, reflecting reduced constructionspending trends in many segments. Asfewer office buildings, retail centers andhotels are built, there will be less demandfor plumbing products. However, as thereis a large stock of existing products thatrequire replacement, building owners andproperty managers will opt to replaceolder products with more environmentallyfriendly products to reduce wateruse and lower utility bills.
Study coverage Details on these and other key findingsare contained in Plumbing Fixtures &Fittings, a new Freedonia industry studyavailable for $4900. It presents historicaldemand data (1998, 2003 and 2008) plusforecasts for 2013 and 2018 by material,product type, market, and region of theUS. The study also considers key marketenvironment factors, evaluates companymarket shares and profiles 32 US industrycompetitors.
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