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Baths and Sanitaryware Market Report 2003
Key Note Publications Ltd, March 2003
In 2002, the total UK baths and sanitaryware market was worth £370.5m at manufacturers' selling prices (msp), accounting for 37.5% of the total bathroom equipment market of £988m. The baths and sanitaryware market had a growth rate of 3.5% from 2001 to 2002. However, baths and sanitaryware has not been the fastest growing market in the total bathroom equipment industry as it has been outpaced by shower, brassware and furniture sales.
Within the baths and sanitaryware market, the domestic replacement business is by far the largest compared with contract replacement. It is dependent upon consumer expenditure on home improvements, which has been strong over the past 2 years, as consumers invest in their properties, given the rising house prices. New housing also presents opportunities for new bathrooms, although growth has been slightly restricted in recent years.
The market is divided into the broad sectors of baths and sanitaryware. The largest individual subsectors are toilets, urinals and cisterns, followed by basins and pedestals. These sanitaryware pieces are composed primarily of vitreous china and, to a lesser extent, plastics and metals. The bath sector also incorporates luxury baths, such as whirlpools and spas. Baths are primarily made of plastic or composite material - the fastest growing areas - with a market also existing for steel baths and cast iron. Bidets show low penetration within the UK market and are not viewed as an essential purchase, especially when space in the typical British bathroom is at a minimum.
The UK baths and sanitaryware market is heavily influenced by overseas manufacturers. First, the leading sanitaryware manufacturers are now owned by overseas groups. Second, given legislative changes in 2001, which permitted the use of a flushing valve and the reduction of UK toilet cistern capacity to 6 litres - in line with the Continent - imports of other brands have increased, with the prospect of even more intense competition in the future.
There are generally mixed forecasts regarding the potential for ongoing buoyancy within the housing market, an essential driver of replacement and new bathrooms. Moreover, consumer confidence is further influenced by economic and global events, such as falling levels in the stock market. In addition, threats of war are likely to have some effect on consumer expenditure in the mid-term. However, given the current strength of the home improvement industry and the growth in the number of en-suites and cloakrooms, there are relatively favourable prospects for housing and construction developments in the public and private sectors. Key Note forecasts that the baths and sanitaryware market will continue to grow over the period 2003 to 2007, although 2003 is likely to experience a slight slowdown growth compared to 2002.
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