Industry Outlook and Trend Analysis
The Bathroom Vanities Market was worth USD 5.50 billion in the year of 2012 and is expected to reach approximately USD 9.54 billion by 2022, while registering itself at a compound annual growth rate (CAGR) of 5.08% during the forecast period. Developing inclination towards eco-friendly and green materials, for example, engineered stone and reused glass is relied upon to trigger requirement for the bathroom vanities market. Rising renovating and reconstruction exercises because of changing consumer inclinations is relied upon to support the requirement for bathroom vanities through the figure time frame. Furthermore, inclination towards customized premium highlights, for example, collected ledge vanities and DIY devices are relied upon to help volume interest for the material utilized. Fast advancement of infrastructure in developing economies is relied upon to positively affect market development. Requirement for formaldehyde free strong wood cabinets inferable from high level of awareness among purchasers are relied upon to upgrade item quality. For example, KCMA's Environmental Stewardship Program in the United States gives bureau makers a stage to make eco-friendly items agreeing to the California formaldehyde regulations associated with emission. Increasing demand for colorful countertop materials like marble, lava stone and engineered stone due to a variety of pattern, reasonable prices and utilization of these products in bathroom applications is anticipated to boost the development of this market.
Material Outlook and Trend Analysis
Bathroom vanity materials comprise metal, wood, glass, stone and ceramic. Wood is majorly used as part in cabinets; contemporary cabinetry is generally frameless and usually built with materials that are engineered for example, chipboard, plywood or Medium density fiber (MDF). The apparent surface of this material is normally clad in plastic paint, timber finish, or laminates. Expanded concentrate on client experience or availability combined with copious enhancements, for example, creative storage choices, rollouts, pullouts for styling items, hair dryers or cosmetics is progressively picking up demand for better materials in the bathroom applications. Increasing demand for MDF in place of the solid wood material is anticipated to transform the wood-based cabinetry market. Engineered stone, for example, quartz has developed as a standout amongst the most favored materials for bathroom applications. This can be ascribed to the uniform inward structure, low upkeep, and solid polymer resin binding and non-porous features. Glass countertops are available in a wide range of assortments, for example, reused high-density polyethylene countertop material, strong glass, and glass with LED backlighting. The glass material can be utilized as a part of slabs, doors, and countertop applications. This material can likewise be utilized as backsplashes or tiles that are fixed with the bureau tops. Interest for reused glass in bathroom vanities market is anticipated to ascend throughout the following years. The material has non-permeable, non-chipping or splitting features and is likewise lighter than some other countertop material.
Application Outlook and Trend Analysis
The bathroom vanities market is divided by applications in non-residential and residential areas. Growing demand of new house and renovating activities in the past years has significantly enhanced the market penetration in the residential section. Increasing interest for vanities with esteem included pleasantries, for example, built-in chips and pull-out drawers that permit use of electric toothbrushes and hair curlers off the counter is relied upon to spur the bathroom vanities market over the figure time frame. Growing requirement for non-residential applications can be ascribed to activities of construction and renovation of retail shops, hotels, healthcare facilities, offices and schools.
Regional Outlook and Trend Analysis
Asia Pacific is anticipated to encounter critical development over the figure time frame. This can be ascribed to developing real-estate sector and emerging facilities of infrastructure. The regional market is anticipated to encounter developing demand from both residential and non-residential spaces because of developing urbanization.
Producers contend on quality and configuration to improve share of the market and use through branding. Some of the major players in the market are American Woodmark, FOREMOST GROUPS INC, Masco, Avanity Corporation and MasterBrand Cabinets. The market is dominated by Masco trailed by American Woodmark and MasterBrand. Broad item portfolio, knowledge of the industry, advancement and application skill has empowered Masco to increase huge and faithful client base.
The global Bathroom Vanities Market is segmented as follows :
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022?
What will be the industry market growth from 2013 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?