Stats 2021: SPC continues to lead resilient flooring

The residential segment was largely supported by the housing boom. Despite supply chain and labor problems, the number of new homes rose for the 12th consecutive year and was the highest since 2006, according to the US Census Bureau. The 1.6 million units started in 2021 represented a gain of 16% over the total of 1.38 million as of 2020. Single-family homes in 2021 totaled 1.12 million, an increase of 13.4% over year-on-year, while multi-family start-ups grew 22.1% in 2021 compared to the previous year, according to the National Association of Home Builders.

Most of the resilient category’s business has been driven by residential LVT (including glued, flexible click, loose lay, SPC, WPC and a relatively new sub-segment called mineral core), generating an estimated $5.785 billion in 2021, versus $US 4.177 billion in 2020. That’s a gain of 38.5%. In terms of volume, residential LVT accounted for 3.417 billion square feet, up from 2.835 billion square feet in 2020, a 20.5% increase.

Two housing market segments continued to drive that growth exponentially: home renovation and new construction of single-family homes. Vendors agreed that single-family homes were the shining star in 2021. “It’s clear that during market expansion, interest rates will remain relatively low, which makes new homes and that segment of our business in particular very, very ripe for growth,” it said. Francis of Shaw Industries. said. “New housing construction, [throughout 2021]continued to show double-digit quarter-on-quarter growth.”

Nate Hohenstein, director of strategic accounts at Novalis, added that the large increase in house prices and the competitive nature of the buyer’s market caused two direct factors that affected the floor segments the most. “No. 1,,” he said, “people didn’t want to overspend on houses, so in many cases they chose to remodel/renovate their own homes – in many cases they used interest rates and refinancing to do this In other cases, where people did sell, they chose not to buy back but to rent, which propelled the more expensive rental market up and required more renovations in that space.”

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