Millwork in the US
Over the five years to 2018, the Millwork industry's performance has been uneven. The industry manufactures wood-based architectural products such as doors, windows and flooring. Nearly 90.0% of industry products are used in residential construction, split evenly between new housing construction and renovations. Housing starts surged just prior to the period; since industry products are typically used in later stages of construction, this led to particularly strong growth at the outset of the period. Despite consistent growth in home improvement spending, the industry has since been beset by higher competition from imports and substitutes, which has limited price growth, tempered sales and led to several years of industry declines. Over the five years to 2023, the Millwork industry is expected to continue growing. Home improvement spending and housing starts, the key drivers of the industry's two largest markets, are expected to continue growing.
This industry manufactures hardwood and softwood cut stock and dimension stock (lumber and worked wood products cut or shaped into specific sizes); wood windows and doors; and other millwork including wood flooring. The reshaped wood products are sold mainly to housing and other building construction industries and their contractors, in addition to other wood product distributors.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.