Wood Paneling Manufacturing in the US
Housing starts and other residential activity increased healthily over the five years to 2018, raising demand for the industry. However, revenue growth has been uneven due to volatility in wood prices, which caused revenue to stagnate early in the period. Overall, industry revenue is expected to increase at an annualized rate of 3.7% to $26.3 billion over the five years to 2018, including growth of 5.4% projected in 2018 alone. Over the five years to 2023, IBISWorld anticipates that the residential construction market will continue to grow, albeit at a slower rate, sustaining demand for industry products. Wood will remain dominant in single-family residential construction, causing this market to continue to be the most significant driver of demand; however, a recent rise in awareness of the environmental benefits of wood in construction may present opportunities for operators to increase their sales to commercial markets.
The industry includes companies that manufacture veneer, plywood, engineered wood or reconstituted wood products. The industry does not include companies that primarily engage in sawmilling or wood preservation, nor does it include companies that primarily produce dimensions stock.
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.