美国厨具柜

Abstract

The kitchen is the epicenter of modern American family life and the media' s makeover darling. In spite of all this attention and excitement, the kitchen cabinet industry may very well be in for a sustained slowdown according to a new report by Specialists in Business Information (SBI).

After several years of accelerated growth, apparent consumption of kitchen cabinetry in the United States eclipsed the $14 billion mark in 2006. However, homeowners reigned in spending and homebuilders pared back on construction bringing harder times to kitchen cabinet manufacturers bringing the market down an estimated 13% in 2007. With economic uncertainty and a housing depression unfolding into 2008, it' s pretty clear that the immediate outlook for the kitchen cabinet market looks bleak. But the real questions are when will there be a bottom and how soon will growth return?

This report presents data and analysis on the U.S. market kitchen cabinet manufacturing and its prospects for growth. It explores the key economic and housing related indicators, end-user, product and market trends with expanded coverage of green factors, and competitive issues affecting the kitchen cabinet manufacturing.

Report data were obtained from government sources, trade associations and publications, business journals, company literature, and investment reports. Statistics describing the value of shipments for kitchen cabinets are derived from the U.S. Census Bureau' s Census of Manufacturers and Annual Survey of Manufacturers, and are augmented by estimates and forecasts by SBI. In most cases, historical data are provided for 1998 through 2007, with forecast data from 2008 to 2012. Because some data are taken from the Census of Manufacturers, which is generated every five years for years ending in 2 or 7 (the last census being 2002), SBI occasionally includes 1997 to show an actual base. At other times, estimates for years falling between 1997 and 2002 were used.

Statistics describing the value of imports and exports for kitchen cabinets were derived from the U.S. International Trade Commission database. SBI defines the market for kitchen cabinets as apparent consumption, which is calculated as the value shipments, plus the value imports, less the value exports.

Other data analyzed in this report include several metrics describing residential construction and housing such as home improvement spending and new home sales.

Simmons Market Research Bureau' s winter 2008 survey, based on a sample of over 20,000 respondents, provides the primary research data on consumer remodeling habits and kitchen cabinet expenditures.

Table of Contents

Chapter 1 Executive Summary

• Scope of the Report
• Methodology
• Market Size and Growth
  • Market Drops 13% to $12.4 Billion
    • Figure 1-1 U.S. Kitchen Cabinet Value of Apparent Consumption 1998-2007 (in billions $)
  • New Home Market Drags Down Remodel Market
    • Figure 1-2 Total New and Remodeled Kitchens and Share of Total Kitchens 1998-2007 (millions units, percent)
    • Figure 1-3 U.S. Kitchen Cabinet Value of Apparent Consumption 1998-2007 (in billions $)
• Market Forecast
  • Kitchen Cabinet Market to Reach $12.9 Billion
    • Figure 1-4 Projected U.S. Kitchen Cabinet Value of Apparent Consumption 2007-2012 (in billions $)
  • Economic Issues
  • Producer Prices
  • Lumber Prices Plummet, Provide Relief in Tough Times
  • Total Residential Investment and Rates
    • Figure 1-5 Comparison of Total Residential Investment, Residential Improvement Spending, Average 30-Year Mortgage Rate and Average Prime Rate 1990-2008, Quarterly (in billions $, percent)
  • Building Permits by Region
    • Residential Markets Head South
    • New Home Sales
    • Existing Home Sales
  • Home Maintenance and Improvements Lose Some Steam
• Trends and Growth Factors
  • The Multi-Faceted Kitchen
  • My Lifestyle, My Ego, My Kitchen
  • The Outdoor Lifestyle
  • Design With Single Women In Mind
  • Baby Boomers Aging in Place
  • Universal Design
  • Remodeling Opportunities
  • DIY Home Improvement
  • Form Gets More Function
  • Consumers Comfortable With Color
  • Aesthetic Focus on Natural, Reusable and Sustainable
  • Clutter Leads to Increased Storage Needs
  • Mainstreaming Green
• Market Outreach
  • Changing Distribution Landscape
  • Big Box Affecting Distribution and Manufacturing
  • Consolidation Affects Marketplace
  • Marketing and Promotion
  • Magazines and Websites
  • Trade Shows
  • Word of Mouth Goes Hi-Tech
  • Targeted End-User Marketing
  • Strange Cabinet Partners
  • Reality TV: A Product Placement Haven
  • Importance of Company Ethics
• Consumer Home Improvement Activity
  • Household Remodeling Activity and Intent Stable
  • Bathroom Most Popular Improvement Area
  • Kitchen Cabinet Purchase Steady
  • Demographic Characteristics of Recent Kitchen Cabinet Purchasers
  • Household Expenditure on Kitchen Cabinets
  • DIY vs. Service-Supplied Kitchen Cabinet Work
  • Retail Preferences
    • Table 1-1 Percentage of Kitchen Remodelers, Planners and Cabinet
  • Purchasers Who Shopped in the Last Three Months, by Store, 2008

Chapter 2 Market Size and Growth

• Scope of the Report
• Methodology
• Market Size and Growth
  • Market Drops 13% to $12.4 Billion
    • Figure 2-1 U.S. Kitchen Cabinet Value of Apparent Consumption 1998-2007 (in billions $)
    • Value of Trade Components
    • Table 2-1 U.S. Kitchen Cabinetry Value of Shipments, Imports, Exports and Apparent Consumption, 1998-2007 (in millions $)
    • Imports Making Inroads, Capture 7% of Market
    • Figure 2-2 Kitchen Cabinet Net Shipments (Shipments minus Exports), by Value and Percent of U.S. Apparent Consumption 1998-2007 (percent)
    • Figure 2-3 Kitchen Cabinet Imports, by Value and Percent of U.S. Apparent Consumption 1998-2007 (percent)
    • Canada, China Top Countries for Imports
    • Table 2-2 U.S. Kitchen Cabinetry Value of Imports by Country of Origin 1998-2007 (in U.S. $)
    • Figure 2-4 Top Ten Kitchen Cabinet Value of Imports by Country of Origin 2007 (percent)
    • Value of U.S. Exports Boom
    • Figure 2-5 U.S. Kitchen Cabinets Value of Shipments and Exports, and Exports as a Percentage of Total Shipments, 1998-2007 (percent)
    • Table 2-3 U.S. Kitchen Cabinetry Value of Imports by Country of Origin 1998-2007 (in U.S. $)
    • Figure 2-6 Top Ten Kitchen Cabinetry Value of Imports by Country of Origin 2007 (percent)
    • New Home Market Drags Down Remodel Market
    • Figure 2-7 Total New and Remodeled Kitchens and Share of Total Kitchens 1998-2007 (millions units, percent)
    • Figure 2-8 U.S. Kitchen Home Improvement Spending 1998-2007 (in billions $)
  • Market Forecast
    • Kitchen Cabinet Market to Reach $12.9 Billion
      • Figure 2-9 U.S. Kitchen Cabinet Value of Apparent Consumption 2007 to 2012 (in billions $)

Chapter 3 Competitor Profiles

• Overview
  • Figure 3-1 Share of U.S. Kitchen Cabinet Sales 2007 (percent)
• American Woodmark Corporation
  • Overview
  • Performance
    • Figure 3-2 American Woodmark Net Sales Fiscal Year-End April 2004-2008 (in millions $)
    • Figure 3-3 Percent Change in American Woodmark Kitchen Cabinet Unit
    • Volume and Price per Unit , Fiscal Year End April 2003-2008 (percent)
    • New Home Market Hits American Woodmark Hard
    • Figure 3-4 Share of American Woodmark Kitchen and Other Cabinet Sales by End Market: New Home Building versus Kitchen Remodeling Fiscal Year End April 2004-2008 (percent)
    • Figure 3-5 American Woodmark Customer Mix Fiscal Year End April 2008 (percent)
  • Product Highlights
• Masco Corporation
  • Overview
  • Product Highlights
  • Performance
    • Figure 3-6 Masco Corporation Net Sales 2003-2007 (in billions $)
    • Figure 3-7 Masco Corporation Customer Mix 2007 (percent)
    • Figure 3-8 Estimated Masco Corporation U.S. Kitchen Cabinet Net Sales 2003-2007 (in millions $)
• MasterBrand Cabinets, Inc. (Fortune Brands, Inc.)
  • Overview
  • Product Highlights
  • Performance
    • Figure 3-9 Fortune Brands, Inc. Home & Hardware Net Sales 2003-2007 (in billions $)
    • Figure 3-10 Estimated MasterBrand Cabinets U.S. Sales 2003-2007 (in millions $)
• Norcraft Companies L.P.
  • Overview
  • Product Highlights
  • Figure 3-11 Share of Norcraft Sales by Brand 2007 (percent)
  • Performance
    • Figure 3-12 Norcraft Companies Net Sales 2003-2007 (in millions $)
• RSI Holding Corporation
  • Overview
  • Product Highlights
  • Performance
    • Figure 3-13 RSI Holding Corp Net Sales 2002-2006 (in millions $)

Chapter 4 Economic Factors

• Overview
• 2008 Real GDP Growth Forecasted at a Meager 1.1%
  • Figure 4-1 U.S. Current-Dollar GDP vs. Real GDP, 2000-2008 (in trillion $)
  • GDP Price Index Ticked Up
  • Figure 4-2 Percentage Changes in U.S. Current-Dollar GDP, Real GDP and the GDP Price Index, 2002-2008 (%)
  • Economic Future Uncertain
• Personal Consumption Slows
  • Figure 4-3 U.S. Current-Dollar vs. Real Personal Consumption Expenditures, 2000-2007 (in billion $)
  • Figure 4-4 Percentage Changes in U.S. Current-Dollar vs. Real Personal Consumption Expenditures and Inflation, 2001-2008 (%)
• Kitchen Cabinets and the Economy
• U.S. Dollar Decline
  • Figure 4-5 Federal Reserve Bank of Atlanta' s Trade-Weighted U.S. Dollar
  • Index, January 1995-May 2008 (index)
• Producer Prices
  • Figure 4-6 Wood Kitchen Cabinet and Countertop Manufacturing Producer
  • Price Index and the Wood Kitchen Cabinets and Cabinet Work Commodity
  • Index 1998-2008 (index)
  • Figure 4-7 Percentage Changes in the Wood Kitchen Cabinet and Countertop
  • Manufacturing Producer Price Index and the Wood Kitchen Cabinets and Cabinet Work Commodity Index, 1998-2008 (%)
• Lumber Prices Plummet, Provide Relief in Tough Times
  • Figure 4-8 Hardwood and Softwood Lumber Commodity Price Index 1998-2008 (index)
  • Figure 4-9 Percentage Changes in the U.S. Hardwood Lumber and Softwood
  • Lumber Commodity Price Index, 1998-2008 (%)
• Housing Market Trends
  • Total Residential Investment and Rates
    • Figure 4-10 Comparison of Total Residential Investment, Residential
    • Improvement Spending, Average 30-Year Mortgage Rate and Average Prime
    • Rate 1990-2008, Quarterly (in billions $, percent)
  • Building Permits by Region
    • Figure 4-11 U.S. New Housing Units Authorized by Building Permits, January 1998-April 2008 (in thousands of units)
  • Residential Markets Head South
    • New Home Sales
    • Figure 4-12 Seasonally Adjusted Annual Rate of U.S. New Single-Family Home
    • Sales by Region, January 1998-May 2008 (in thousands of units)
    • Figure 4-13 Annual U.S. New Home Sales by Region, 1963-2007 (in thousands of units)
    • Existing Home Sales
    • Figure 4-14 Annual U.S. Existing Home Sales by Region, 1997-2007 (in thousands of units)
    • Pending Home Sales
    • Figure 4-15 U.S. Pending Home Sales Index by Region, 2004-2006, January 2007-May 2008
  • Home Maintenance and Improvements Lose Some Steam
    • Figure 4-16 U.S. Quarterly Expenditures for Home Maintenance/Repairs and Improvements, 2004-2007 (in billion $)

Chapter 5 Trends and Growth Factors

• The Multi-Faceted Kitchen
• My Lifestyle, My Ego, My Kitchen
  • Service Me!
  • Design Me!
  • Customize Me!
  • Virtual Cabinets
• The Outdoor Lifestyle
• Design With Women In Mind
• Baby Boomers Age In Place
  • Boomers Prefer Staying Put, Investing in Home
• Universal Design
• Remodeling Versus Refacing
• DIY Home Improvement
• Form Gets More Function
• Consumers Comfortable With Color
• Aesthetic Focus on Natural, Reusable and Sustainable
• Clutter Leads to Increased Storage Needs
• Getting Green
• New Infrastructure for a Green Market
• The Consumer Has Spoken…a Little
• Differentiating What is "Green"
• The Coming Residential Wave
• Manufacturers Pour on the Green
• Can Green Boost Kitchen Cabinet Industry?
• Green Opportunity For Small Businesses
  • Self-Cleaning Paints

Chapter 6 Market Outreach

• Changing Distribution Landscape
• Big Box Affecting Distribution and Manufacturing
• Consolidation Affects Marketplace
• Marketing and Promotion
• Magazines and Websites
• Trade Shows
• Word of Mouth Goes Hi-Tech
• Targeted End-User Marketing
• Strange Cabinet Partners
• Reality TV: A Product Placement Haven
• Importance of Added Values
• KCMA Making Green Inroads
• Importance of Company Ethics

Chapter 7 Consumer Home Improvement Activity

• Note on Simmons Market Research Bureau Consumer Data
• Household Remodeling Activity and Intent
  • Table 7-1 Percentage of Households Who Did or Plan to Do Remodeling, 2004- 2008
• DIY vs. Service-Supplied Home Improvement Work
  • Table 7-2 Percentage of Households Who Did Work Themselves or Hired a Professional, 2004-2008
• Demographic Characteristics of Recent Remodelers
  • Table 7-3 Demographic Indicators for Households Who Have Remodeled in the Last 12 Months, 2008 (index)
  • Table 7-3 (cont.) Demographic Indicators for Households Who Have Remodeled in the Last 12 Months, 2008 (index)
  • Demographic Characteristics of Future Remodelers
  • Table 7-4 Demographic Indicators for Homeowners Who Plan to Remodel in the Next 12 Months, 2008 (index)
• Home Improvement Expenditures
  • Table 7-5 Percentage of Homeowners Spending on Home Improvements in Last 12 Months, by Spending Range, 2004-2008
• Home Improvement Activity By Room and Intent
  • Table 7-6 Percentage of Homeowners Who Remodeled in Last 12 Months, by Room, 2004-2008
  • Table 7-7 Percentage of Homeowners With Plans to Remodeled in Next 12 Months, by Room, 2004-2008
• Demographic Characteristics of Recent Kitchen Remodelers
  • Table 7-8 Demographic Indicators for Households Who Have Remodeled Kitchen in the Last 12 Months, 2008
  • Demographic Characteristics of Future Kitchen Remodelers
  • Table 7-9 Demographic Indicators for Households Who Plan to Remodeled Kitchen in the Next 12 Months, 2008
• Other Kitchen Improvement Specific Product Activity
  • Table 7-10 Percentage of Total Population Who Purchased Kitchen Products in Last 12 Months, 2004-2008
  • Table 7-11 Percentage of Kitchen Remodelers and Cabinet Purchasers Who Purchased Kitchen Products in Last 12 Months, 2008
• Demographic Characteristics of Recent Kitchen Cabinet Purchasers
  • Table 7-12 Demographic Indicators for Households Who Bought Kitchen Cabinets in the Last 12 Months, 2008
• Household Expenditure on Kitchen Cabinets
  • Table 7-13 Percentage of Kitchen Remodelers and Cabinet Purchasers
  • Spending on Kitchen Cabinets in Last 12 Months, by Spending Range, 2008150
• DIY vs. Service-Supplied Kitchen Cabinet Work
  • Table 7-14 Percentage of Kitchen Remodelers and Cabinet Purchasers Who Did Kitchen Cabinet Work Themselves or Hired a Professional, 2008
• Retail Preferences
  • Table 7-15 Percentage of Kitchen Remodelers, Planners and Cabinet
  • Purchasers Who Shopped in the Last Three Months, by Store, 2008
  • Table 7-16 Percentage of Kitchen Remodelers, Planners and Cabinet
  • Purchasers Who Purchased in the Last Four Weeks, by Store, 2008

Appendix Selected Addresses