Growth in the US economy will spur home improvement and renovationprojects

Tag : metals & materials
US demand for builders' hardware is projected to advance 1.9percent per year to $11 billion in 2012. Gains will be driven bydemand for locks and other safety devices, which are also forecastto account for the largest share of the US builders' hardwaremarket. Demand for locks will be driven by the US housing market.Increases in housing completions, spurred by an expected recoveryby the US home construction industry, will promote demand forlocks. In the improvement and repair segment of residentialconstruction, gains will be driven by continued interest inimproving personal home security. Americans will continue toupgrade their locks and other features that make their residencesmore secure. In the nonresidential market, demand for locks andrelated safety devices will be driven by a desire for improvedsecurity in such facilities as schools, universities, hospitals andother health care facilities. For example, property managers willseek to give individual classrooms, lecture halls, patient roomsand other areas their own locks to ensure the security of theinhabitants and property of the room in case of lockdowns.
Furniture hardware to remain key application
Furniture applications are projected to account for the largestshare of the builders' hardware market in 2012, totaling 37 percentof all demand. Advances will be led by the popularity of homeentertainment systems and home offices. Demand for hutches for homeentertainment systems, computer desks and work stations is expectedto rise, creating demand for furniture with many drawers, storageareas and compartments, which will in turn drive demand forhardware such as hinges, pulls, slides and furniture locks.
Residential market to bene-fit from rebound in housing
The residential market, which accounted for 55 percent of allbuilders' hardware demand in 2007, is projected to remain theleading market for builders' hardware in 2012. As the US housingmarket recovers from the contraction that began in 2006, demand for builders' hardware will also rise, as more and more homes are completed and need doors, windows and furnishings. Moreover, growthin the US economy will spur home improvement and renovationprojects, such as kitchen and bathroom remodeling. While newconstruction applications will continue to account for the largestshare of builders' hardware demand through 2012, demand forhardware in improvements and repair applications is forecast tohave more rapid growth through 2012, primarily as homeowners andproperty owners and managers install improved locks and relatedequipment to upgrade structural security.
Study coverage
This new industry study, Builders' Hardware, presents historicaldemand data (1997, 2002, 2007) plus forecasts for 2012 and 2017 bymaterial, product, market, application and region. The study alsodetails market environment factors, evaluates market share andprofiles 36 competitors in the US industry.
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US Builders Hardware Market
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