Report Predicts US Wood Millwork Demand Will Rise 2.4% Yearly

November 25th, 2019 by Editor

A report on wood millwork in the U.S. recently released from Freedonia Focus Reports predicts that demand will increase 2.4% annually in nominal terms through 2023.

Gains will be driven by rising building construction activity, the aesthetically pleasing properties of wood, and the perception of wood as an environmentally friendly material according to the report. However, it suggests that further growth will be limited by negative characteristics of wood such as susceptibility to cracking and decay. The report also predicts that intensifying competition from plastics and other alternative materials offering similar aesthetics, including woodgrain patterning, will restrain additional gains.

Wood moulding and trim sales are expected to remain the leading product segment. Demand is expected to be supported by the rising new housing construction activity.

This report forecasts to 2023 U.S. wood millwork demand in nominal U.S. dollars at the manufacturer level. Total demand is segmented by product in terms of:

  • moulding and trim
  • hard-surface flooring
  • doors
  • windows

Total demand, various product segments and trade are provided in annual series from 2008 to 2018 to illustrate historical trends.

Product segment demand is further broken out by market for 2018 as follows:

  • new residential
  • residential improvement and repair (I&R)
  • new commercial
  • commercial I&R

Millwork is defined in the report as fabricated wood millwork, including products covered with materials such as metal and plastic. Excluded from the scope of the report are cut stock, dimension lumber and other wood products manufactured from logs and bolts, millwork fabricated at construction sites, and finished furniture parts and frames. Also excluded from the scope of the report are wood doors, windows, moulding and trim, and flooring utilized in applications other than residential and nonresidential buildings (such as transport equipment). Re-exports of wood millwork are excluded from demand and trade figures.

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