Bathroom Remodeling Spending to Grow Nearly 5% Through 2022
Cleveland, Ohio -- U.S. bathroom remodeling spending is projected to rise 4.9% annually to $33.9 billion in 2022. Gains will be driven by a high level of homeowner interest in remodeling or adding bathrooms. Flooring is expected to see the fastest growth as homeowners opt for low-cost LVT and slip-resistant porcelain and stone tile.
Spending on countertops installed as part of bathroom renovations is expected to climb 3.4% annually to $7.1 billion in 2022. Bathroom countertop product sales will rise 3% per year through 2022, boosted by consumer interest in using high-value countertop materials such as engineered and natural stone, as well as for intricate countertops that are more difficult to install.
These and other trends are presented in Home Kitchen and Bathroom Remodeling, a new study from The Freedonia Group, a Cleveland-based industry research firm.
For more information, visit www.freedoniagroup.com.