INDUSTRY NEWS UPDATE APRIL 10, 2019

Check out what’s been happening in the cabinet industry the last few weeks from the Kitchen Cabinet Manufacturers Association:

Formaldehyde Rule in Full Effect
As of March 22, 2019, the TSCA Title VI Formaldehyde Emissions Standards for Composite Wood Products Rule is officially in effect. KCMA has reported on this issue and our work surrounding the regulation for more than a year.

 "This is good news for composite wood panel manufacturers and companies that use the panels to make components and finished goods, as it means one, more seamless regulatory system nationwide," says Composite Panel Association President Jackson Morrill.
KCMA

Technology is Key to Bringing Millennials into Manufacturing
Technology is proving to be a driving force behind change in the manufacturing industry and it could be the answer to the question of how to get younger generations interested in manufacturing.

 According to Manufacturing.net, a recent study showed that only 49% of millennials thought manufacturing offered fulfilling careers. It is imperative for manufacturing organizations to be more vocal in sharing the exciting technology opportunities at their companies. Ongoing developments in artificial intelligence, robotics, automation, integration, gamification, and real-time data are what interest Millennials and what will connect the industry to younger generations.

Millennial Kitchen Trends
Millennials are a huge target market for the housing industry with their spending power and vast numbers. This is a generation focused on health and well-being, and work/life balance. They prefer simplicity and minimalism.  So how do these characteristics translate into kitchen and bath choices?
  • Nearly 50% of millennials want luxury kitchens with lounge furniture that serves more than one purpose
  • 49% of millennials opt for kitchen islands Multiple work stations in kitchens and varying counter heights for different uses
  • Millennials are more likely to opt for modern or farmhouse style cabinets

Kitchen
Photo courtesy of Builder Online.

Economic Update
Housing starts fell 8.7% in February to  a seasonally adjusted rate of 1,162,000.

The National Association for Business Economics project that growth, as measured by the gross domestic product, will reach a modest 2.4 this year and just 2 percent in 2020.

 New orders for manufacturerd goods increased slightly by 0.1% in January.

 IHS Markit Flash U.S. Manufacturing PMI dropped to 52.5 in March, the lowest reading since June 2017.
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