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Cabinets & Countertops

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Publisher : Catalina Research Inc.
Report Number : KB 078
Published : May 2020
Pages : 35 Pages Executive Summaries, 57 Data Tables
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CABINET AND COUNTERTOP INDUSTRY

KB 078: Released May 2020

Catalina Research announces the release of our in-depth analysis of U.S. cabinet and countertop industry trends.  This fact-filled report provides the action-oriented executive with up-to-date information on kitchen cabinets, bathroom vanities, other cabinetwork, dimension and engineered stone countertops, plastic laminated countertops, solid surface materials, and other countertop materials.  Each page will assist the cabinet and countertop executive exploit new product trends, improve plant efficiency, strengthen distribution, penetrate end-use markets, and plan for 2020 and beyond.

Catalina Reports contain the timely data that allows users to evaluate market size, growth potential, end-use markets, regional retail sales, plant profitability, company market shares, and the competitive environment.  So turn to a Catalina Report when developing strategies to take advantage of the sales opportunities in stock, semi-custom, and custom cabinetwork; shifting countertop material usage; changing distribution channels; and growing end-use markets.

The table of contents shows the significant data and information included in this report. Each section is summarized to clearly point to the pertinent industry trends. You will find it a valuable planning tool. The table of contents shows the significant data and information included in this report. Each section is summarized to clearly point to the pertinent industry trends.  

CONTENTS

1. U.S. CABINET MARKET TRENDS (1997-2025)

  • Cabinet sales and growth trends
  • Real (unit) growth trends
  • Stock line, semi-custom, and custom cabinet sales
  • Cabinetwork price trends

2. COUNTERTOP MATERIALS MARKET TRENDS (1997-2025)

  • Countertop materials sales and growth trends
  • Countertop materials sales by type:
    • Dimension stone
    • Solid surface
    • Engineered stone
    • Other materials
    • Plastic laminated

3. CABINET AND COUNTERTOP COUNTRY SOURCE OF SUPPLY (1997-2020)

  • U.S. shipments of stock line and custom  cabinets
  • Imports of quartz slabs for countertops and by major country of origin
  • Kitchen cabinet versus vanity shipments
  • Quartz slab countertop import prices
  • Cabinet shipments by wholesale and retail manufacturers
  • Share of U.S. quartz countertop supply by major country of origin
  • Cabinet imports by major country of origin
  • Share of U.S. cabinet sales by country    

4. CABINET AND COUNTERTOP END-USE MARKETS AND DISTRIBUTION CHANNELS (1997-2020)

  • Purchases by residential and nonresidential; new and remodeling markets
  • Cabinetwork and countertop sales by home centers & other retailers
  • Cabinetwork purchases per new home and manufactured housing unit
  • Retail sales by region
  • Home center’s share of regional sales
  • Commercial sales by market
  • Home Depot/Lowe’s kitchen & bath sales
  • Exports by major country of destination

5. NEW AND REMODELED RESIDENTIAL KITCHENS AND BATHROOMS (2007-2020)

  • New and replacement residential kitchens and bathrooms
  • Kitchen and bath remodeling spending
  • DIY vs. professional remodeling jobs
  • New kitchens and bathrooms by type of housing unit
  • Remodeling jobs by region, income, and age of homeowner

6. FACTORS AFFECTING DEMAND (1997-2020)

  • Building construction spending
  • Spending by nonresidential building
  • Housing completions and resales
  • Mortgage rates and personal income
  • Housing starts, permits, and factory-built housing/home sales by price
  • Building material dealer sales

7. PLANT COST STRUCTURE AND THE COMPETITIVE ENVIRONMENT (1997-2020) 

  • Payroll and material costs
  • Capital expenditures
  • Material inputs price trends
  • Labor productivity indicators
  • Cabinet door shipments
  • Share of market for the top 8 cabinet makers
  • Plant profit margins
  • Number of industry plants
  • Sales and profit trends for four manufacturers
  • Industry concentration for top companies

EXECUTIVE SUMMARY CONTENTS

Executive Summary and Outlook

Current Market Situation
U.S. Cabinet Market Trends
U.S. Countertop Market Trends
Source of Supply
End-Use Markets and Distribution Channels
U.S. Cabinet Maker Profitability
Competitive Environment
Market Outlook

Cabinet Market Trends (Section 1)

U.S. Cabinet Sales Trends
Stock Line Versus Semi-Custom and Custom Cabinet Sales
Cabinet Design Trends

Countertop Market Trends (Section 2)

U.S. Countertop Material Sales Trends
Countertop Material Sales Mix
Engineered Stone Countertop Market

Source of Supply (Section 3)

U.S. Cabinet Shipment
Cabinet Tariff Situation
Cabinet Source by Country
Quartz Countertop Source by Country

End-Use Markets (Sections 4)

End-Use Market Trends
Residential Remodeling and Replacement Market
Builder Market
Commercial Markets

Distribution Channels and Regional Sales (Sections 5 and 6)

Retail Cabinet and Countertop Sales
Independent Dealer Channel

U.S. Installations and Homeowner Remodeling Spending (Section 7)

Kitchen Installations
Bathroom Installations
Homeowner Kitchen and Bathroom Remodeling Spending

Cabinet Maker Cost Structure and Profitability (Section 9)

Number of U.S. Cabinetry Plants and Consolidation
Cabinet Maker Profit Margins
Cabinet Door Shipments
Capital Expenditures

U.S. Cabinet and Countertop Competitive Environment (Section 10)

Cabinetry Competitive Environment

Scope and Methodology

Section Tables and Data Analysis

Section 1: U.S. Cabinetry Market Trends, 1997-2025

Table 1-1: Value of Total U.S. Cabinetry Market
Table 1-2: Value of U.S. Stock, Semi-Custom, and Custom Cabinetry Sales
Table 1-3: Percent Total Cabinetry Sales by Cabinet Type
Table 1-4: Cabinetry Producer Price Index
Table 1-5: Real U.S. Cabinetry Sales

Section 2: U.S. Countertop Market Trends, 1997-2025

Table 2-1: Value of Total U.S. Countertop Supply
Table 2-2: Value of U.S. Countertop Supply by Material
Table 2-3: Percent Total U.S. Countertop Supply by Material

Section 3: U.S. Source of Supply: Domestic Shipments and Imports, 1997-2020

Table 3-1: Value of Total U.S. Cabinetry Shipments
Table 3-2: Value of U.S. Stock, Semi-Custom, and Custom Cabinetry Shipments
Table 3-3: Percent of U.S. Cabinetry Shipments by Wholesale and Retail Producers
Table 3-4: Value of Total U.S. Cabinetry Imports and Share of U.S. Sales
Table 3-5: U.S. Cabinetry Supply by Major Country of Origin
Table 3-6: Share of U.S. Cabinetry Supply by Major Country of Origin
Table 3-7: Producer Price Index by Product
Table 3-8: U.S. Quartz Countertop Imports
Table 3-9: U.S. Quartz Countertop Supply by Major Country of Origin

Section 4: End-Use Markets, 2017-2020

Table 4-1: Value of Cabinet and Countertop Purchases by End-Market
Table 4-2: Percent Total Cabinet and Countertop Purchases by End-Use Market
Table 4-3: Cabinet and Countertop Purchases Per New Housing Unit
Table 4-4: Percent Total Cabinet Shipments for Kitchen Cabinets and Bathroom Vanities
Table 4-5: Value of U.S. Cabinetry Exports
Table 4-6: Value of U.S. Cabinetry Exports by Major Country of Destination

Section 5: U.S. Retail Distribution Channels, 2002-2020

Table 5-1: Cabinet and Countertop Retail Sales
Table 5-2: Retail Sales by Type of Outlet
Table 5-3: Percent Total Retail Sales by Type of Outlet
Table 5-4: Cabinets and Countertop Percent Total Retailer Sales
Table 5-5: Number of Retailers Selling Cabinet and Countertops
Table 5-6: Average Cabinet and Countertops Sales Per Outlet
Table 5-7: Home Depot Kitchen and Bath Revenues
Table 5-8: Lowe’s Kitchen and Bath Revenues

Section 6: Retail Sales by Region, 2007-2019

Table 6-1: Cabinet and Countertop Retail Sales
Table 6-2: Growth Trends (CAGR)
Table 6-3: Percent Total Retail Sales
Table 6-4: Percent Sales Through Home Centers

Section 7: U.S. Kitchen and Bathroom Installations, 2007-2020

Table 7-1: U.S. Residential Kitchen and Bathroom Installations
Table 7-2: Homeowner Kitchen and Bathroom Remodeling Spending
Table 7-3: Professional Versus Do-It-Yourself Remodeling Jobs
Table 7-4: Percent of Total Kitchen and Bathroom Remodeling Spending by Income, Region, and Age of Householder

Section 8: Factors Driving Demand, 1997-2020

Table 8-1: U.S. Building Construction Spending
Table 8-2: U.S. Housing Construction Trends
Table 8-3: Percent Total New U.S. Single-Family Houses Sold by Sales Price
Table 8-4: U.S. Existing Home Sales
Table 8-5: Other Factors Driving Residential Demand
Table 8-6: U.S. Nonresidential Building Construction Spending by Building Type

Section 9: U.S. Cabinetwork Industry Cost Structure and Profitability, 1997-2020

Table 9-1: Number and Revenues of U.S. Cabinet Plants
Table 9-2: U.S. Cabinetwork Plant Operating Ratios and Profit Margins
Table 9-3: Producer Price Trends For Major Material Inputs
Table 9-4: Value of U.S. Cabinet Door Shipments
Table 9-5: Cabinetwork Plant Employment and Wage Trends
Table 9-6: U.S. Cabinetwork Plant Capital Spending

Section 10: U.S. Competitive Environment, 1997-2019

Table 10-1: Share of U.S. Cabinetry Shipments For the Top Companies
Table 10-2: Share of U.S. Cabinetry Market Supply by Leading Competitors
Table 10-3: Public Company Financial Trends

ABSTRACT FOR THE CATALINA REPORT ON CABINETS AND COUNTERTOPS

SUMMARY OF MAJOR FINDINGS

U.S. cabinet and countertop sales could decline by 5.5% during 2020 due to the adverse effect of the coronavirus recession.  The coronavirus recession quickly reversed the outlook for industry sales, which were showing strong growth earlier in the year.  The sales decline is expected to be sharpest in the second and third quarters, since the economic lockdown will cause housing demand to plummet.  Once the reins are taken off and consumers regain confidence, cabinet and countertop demand is expected to spring back.  Demand will benefit from low interest rates and changing lifestyles, which includes the need for more work-at-home space, taking more staycations, limiting restaurant visits, and consuming more at-home entertainment experiences.  In addition, homeowners will be ready to undertake home improvements after spending weeks and months looking at the same old kitchens and bathrooms.  As a result, cabinet and countertop sales are forecast to increase at a 4.5% compound annual rate through 2025.  To take advantage of industry growth continue to increase emphasis on stock line cabinets and quartz countertops.  Cabinet sales opportunities should also benefit from the growing popularity of islands and tall cabinets in kitchen designs.

CABINET AND COUNTERTOP SALES TRENDS

Catalina Research has uncovered these trends in our in-depth report on the U.S. cabinet and countertop industry.  Report sections cover the U.S. market for kitchen cabinets and bathroom vanities, and countertop materials.  Cabinet shipments are further segmented by stock line, semi-custom, and custom cabinets.  Countertop materials shipments are provided for dimension and engineered stone; and plastic laminated, solid surface, and other countertop materials.  Price trends are provided for all types of cabinetwork.

SOURCE OF SUPPLY

Catalina analyzed U.S shipments for cabinets and quartz countertops.  Catalina calculated share of the leading countries of origin.  For quartz countertops, Catalina also provides competitive pricing trends by country.  U.S. cabinet shipments are segmented by stock line, semi-custom, and custom cabinets, as well as shipments by wholesale and retail manufacturers.

END-USE MARKETS AND DISTRIBUTION CHANNELS

Cabinetwork purchases are provided for new residential construction, residential remodeling, manufactured housing, and nonresidential construction markets.  The analysis includes data on purchases per new home constructed and manufactured housing unit shipped.  Home center and other retail channels are analyzed as well.  A separate section analyzes cabinetwork and countertop retail sales by region.  Regional retail sales are further segmented for home centers.  Home Depot and Lowe’s kitchen and bath revenues are tracked as well.  In addition, export shipments are analyzed.

FACTORS AFFECTING DEMAND

Catalina analyzes the role of new and remodeled residential kitchens and bathrooms as a determinant of demand.  The number of new kitchens and bathrooms installed per new housing and remodeling projects are tracked.  Homeowner kitchen and bathroom remodeling is investigated by demographic characteristic.  Cabinetwork and countertop demand is correlated with U.S. housing demand, nonresidential construction spending, mortgage interest rates, and other economic and demographic indicators.  This provides insights into the direction of domestic demand into 2021 and beyond.

PROFIT MARGINS AND THE COMPETITIVE ENVIRONMENT

Catalina Research examined the cost structure and profitability of U.S. cabinetwork plants.  Data trends are compiled for labor, material, and capital inputs.  As part of this analysis, Catalina Research uncovered the manufacturing and marketing strategies for the leading competitors.  Sales data was compiled in order to calculate leading cabinet maker market shares.