A welcome shift toward mid-range and higher-end projects bodes well for the industry.
By Robert Isler
A strong 2021 appears to be in the cards for the kitchen and bath industry.
NKBA’s latest K&B Market Outlook projects industry spending to reach $158.6 billion for the year, a significant increase over the $136 billion for 2020. Although the new construction sector is expected to lead the way with a gain of 22%, kitchen and bath remodeling is projected to register a double-digit gain as well, up 10%. By specific room remodel, the split is similar, with $82 billion, or 52%, expected to go toward the bathroom, and $76 billion, or 48%, directed at the kitchen.
For more on this story, visit NKBA market research, here.
