Wood Product Manufacturing in the US
The Wood Product Manufacturing industry produces a diverse range of wood products. . The construction sector is the industry's largest source of demand; as a result, operators have benefited from strong growth in housing starts over the five years to 2019. Consumer spending has also increased during the current period, raising demand for household wood products. In addition, exports have surged due to European Union biofuel regulations, which have boosted demand for North American wood pellets, especially from the United Kingdom. Despite these trends, producers of wooden household goods have contended with stronger competition from low-cost imports. Additionally, these manufacturers have experienced competition from products made with substitute materials, such as plastic and metal, leading the average industry profit margin to decline. Overall, industry revenue is anticipated to increase during the current period due to increases in consumer spending and per capita disposable income. Over the five years to 2024, industry revenue is forecast to continue to rise, albeit at a slower rate due to decelerating growth in residential construction and disposable income.
This industry manufactures wood products not produced by sawmills or by manufacturers of veneer, engineered wood, millwork and mobile homes. Therefore, industry products are miscellaneous. They include wood ladders, cabinets, kitchenware, broom handles, kiln-dried lumber, reels and toothpicks.
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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