Millwork in the US
Over the five years to 2019, 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. Although both housing starts and home improvement spending have increased during the five-year period, the industry has since been beset by higher competition from imports and substitutes, which has limited price growth, tempered sales and led to several recent years of industry declines. The industry has been challenged by rising competition from wood substitute products, which has hindered industry profit. Window frames and doorframes made from aluminum, steel, fiberglass and vinyl have become increasingly popular. These substitute materials usually come with lower price tags and in some cases mimic the aesthetic of wood, making them attractive substitutes for industry products. Over the five years to 2024, the Millwork industry is expected to resume moderate growth. 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.
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