Earlier this week, Ed Hudson, Director of Market Research for Home Innovation Research Labs, presented at the Society of Plastics Engineers’ 2019 Vinyltec® “Megatrends in Vinyl” Conference in Akron, Ohio. He began with a discussion of several of the major forces driving the home construction and remodeling industries and how these create opportunities and threats, specifically for construction products made of vinyl. Among trends discussed were our changing labor force and demographics; higher costs for materials and lot development; growing demand for increased energy efficiency; and new technology developments.
Ed’s presentation tracked market share trends and volume of vinyl and competitive products in flooring, home exteriors, doors and windows, and the decking/railing markets based on Home Innovation’s Annual Builder and Consumer Practices Reports.
The slide below, for example, shows that the Luxury Vinyl Tile and Plank category, introduced only a few years ago, has become one of the top flooring categories. This growth is unprecedented in the flooring market.
Source: Home Innovation's Annual Builder & Consumer Reports; presentation by Ed Hudson at Vinyltec 2019.
Ed and other members of the Home Innovation team are frequently called upon to share insights with various industry groups. If you’re interested in finding out more about the data presented above, purchasing your own survey data reports, or enlisting Ed to present at your industry conference, get in touch.