Health concerns due to the use of urea
formaldehyde which is a resin used to bind the fibers are expected to
hamper market growth through the forecast period. However, the U.S.
Environmental Protection Agency (EPA) is currently developing compliance
and testing provisions for various standards. Additionally, increasing
number of wood products and finished goods in California, are becoming
CARB (Califonia Air Resource Board) compliant which is expected to yield
opportunities for the bathroom vanities market.
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Further key findings from the study suggest:
- The residential application segment accounted for majority of the market in 2013 and is further expected to generate high revenue through the forecast period. Rising demand for new housing and remodeling activities has led to significant increase in the market penetration in the residential sector. Design trends for large storage cabinets and medications are also to promote gains.
- Non-residential application segment is expected to witness growth over the forecast period. Rising healthcare, offices, education, and retail shop construction spending is expected to support demand for bathroom vanities, as these structures incorporate secure storage with lesser space requirements.
- Asia Pacific accounted for over 30% of the overall market share in 2013 and is expected to witness high growth due to rapid installations of cabinets in new and existing homes as well as non-residential buildings. China is expected to witness robust demand; growing urbanization is expected to support infrastructure development in the region. North America is expected to witness high growth due to rising consumer demand towards premium bathroom features.
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View Research
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America based market research and consulting company that provides
off-the-shelf, customized research reports and consulting services. To help
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objective insights. For more information, visit http://www.grandviewresearch.com/
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