A Closer Look: Floor Panel Growth Potential
Back in January, SBC Magazine covered a Home Innovation Labs’ report that indicates a positive five-year outlook for structural component framing. This article series is looking at exactly which products are poised for growth, who will be using them and which regions will see the most robust growth.
Floor panels (floor cassettes) are an emerging structural component whose use is increasing amongst builders. Of those builders surveyed, 15 percent anticipate using floor panels about the same in the next year and an additional 4 percent plan on using them more. Over the next five years, 25 percent of builders plan on using floor panels the same or more.
Large builders (25+ units) are adopting floor panels at the highest rate with 22 percent indicating additional usage over the next 5 years while only 4 percent small builders (1-24 units) see an increased use over the same period.
Regionally the Midwest and West will see the greatest adoption of floor panels with 17 percent and 14 percent increases respectively. The South sees a modest increase of 4 percent while Northeast builders indicate a drop in anticipated use of floor panels by 5 percent.
Floor panel usage will increase the most with Move-Up and Luxury Builders at 12 percent and 11 percent while seeing a 6 percent increase amongst Starter Builders. Similarly, Semi-Customer and Production Builders will increase usage of floor panels by 9 percent each and 5 percent of Custom Builders will increase their usage of floor panels.
Five Year Net Gain (Increase less Decrease) in Anticipated Use
|All Builders||Custom Builders||Semi-Custom Builders||Production Builders|
|Pre-Cut Framing Package||6%||8%||0%||0%|
|Factory-Built Open Wall Panels||8%||6%||4%||11%|
|Factory-Built Closed Wall Panels||7%||6%||9%||6%|
|Panelized Pre-Assembled Floors||8%||5%||9%||9%|
|Precast Floor, Wall, or Roof Panels||7%||9%||4%||-11%|
For more information on the Home Innovation Labs’ 2018 report, read these articles:
- Chart: Will Home Builders Increase Use of Trusses in 2019?
- Chart: What Will Happen to the Wall Panel Market in 2019?
- Chart: What Builders Will Use Component Framing More?