Global Bathroom Sinks Market 2017-2021
About Bathroom Sinks
A bathroom sink is a fixture that comes in different shapes. These sinks are also known by other names such as hand basin and wash basin. Bathroom sinks are usually used for washing hands. The sink is usually attached with a faucet that supplies hot and cold water and can even have a spray feature for faster rinsing. The growing bathroom concept has resulted in the personalization of bathroom accessories, wherein bathroom sinks come in various designs and features. Bathroom sinks are typically made up of ceramic, concrete, glass, marble, and granite.
Technavio’s analysts forecast the global bathroom sinks market to grow at a CAGR of 5.19% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global bathroom sinks market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bathroom Sinks Market 2017-2021
Technavio recognizes the following companies as the key players in the global bathroom sinks market: Kohler, LAUFEN Bathrooms, LIXIL Group, Moen, and TOTO.
Other Prominent Vendors in the market are: BLANCO, Duravit, Elkay, Franke, Huida Sanitary Ware, Jomoo Kitchen & Bath, Oulin, Primy, Roca, and Sonata.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing trend of semi-recessed sinks. Semi-recessed sinks are the emerging trend in the bathroom sink industry. Semi-recessed sinks combine the convenience of an undermount sink and the contemporary look of a vessel link. Semi-recessed sinks are designed to give more vanity space as these sinks overhang the counter very slightly, giving more space on the counter. Semi-recessed sinks have proved to be easy for children to operate as the tap landing is often close to the person using the sink. A need for space-saving sinks mainly in urban areas where there are very few chances to have a spacious bathroom is leading to the growing demand for semi-recessed sinks.”
According to the report, one of the major drivers for this market is Increase in building refurbishment activities. There is growing trend of home improvement and repair spending around the world. Construction spending on remodeling activities is witnessing a continuous growth in American and European markets. Rising disposable income coupled with the growing awareness about home décor is expected to drive renovation and remodel activities, thereby fueling the demand for bathroom sinks. The refurbishment market is driven by growth in per capita disposable income and employment. Home prices are expected to rise during the forecast period, facilitating an increase in demand for refurbishment services as homeowners often leverage the value of their homes through loans to fund remodeling projects.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in raw material prices. Bathroom sinks are typically made up of different materials such as ceramic, concrete, copper, glass, granite, marble, nickel, plastic, polyester, stainless steel, and stone. To cater to various customer needs, bathroom sinks usually come with a wide range of styles, colors, and finishes. Typically, vendors in the bathroom sink market rely on third-party manufacturers as a source of finished product. Most of the raw materials are sourced good and obtained on the basis of purchase order. Any change in raw material prices will adversely affect the production cost of bathroom sinks.
Kohler, LAUFEN Bathrooms, LIXIL Group, Moen, TOTO, BLANCO, Duravit, Elkay, Franke, Huida Sanitary Ware, Jomoo Kitchen & Bath, Oulin, Primy, Roca, and Sonata.
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