NEW YORK, Feb. 22, 2017 /PRNewswire/ -- US demand for molding and trim is expected to rise 5.5 percent through 2020 to $9.9 billion. Rising building construction activity, particularly in new housing, will drive gains. While wood will remain the leading molding and trim material type, growing consumer preference for more durable, high quality materials will restrain wood's share of demand gains going forward, boosting the overall value of the molding and trim market.
Among the questions answered about molding and trim:
- Which markets and materials are expected to experience the most rapid demand growth?
- What factors influence the decisions made by consumers regarding molding and trim material types?
- How do the residential and nonresidential markets for molding and trim differ from one another?
Read the full report: http://www.reportlinker.com/p04708290-summary/view-report.html
Description
Rising Building Construction Activity to Drive Gains in the Molding & Trim Market
Sustained growth in building construction expenditures, particularly in new housing, will drive gains. Rising improvement and repair spending will also boost sales, as building managers and homeowners opt for low cost ways to update structures. However, growing demand for more durable, higher quality products -- particularly exterior trim -- will temper replacement sales in the future because of the longer lifespans of these products.
Key Findings in the Molding & Trim Study
Interior Molding Expected to be the Fastest Growth Product Segment
Interior molding is forecast to record healthy demand gains through 2020, bolstered by strong growth in new housing completions and increased spending on home improvement projects. Stairwork demand will benefit from rising new building activity, particularly in single-family housing. Due to long replacement cycles, stairwork accounts for a relatively small share of the residential improvement and repair market, but plays a much more significant role in new residential applications. Exterior trim will also see demand gains. Homeowners looking to sell their houses will increasingly install exterior trim as a more cost-efficient means of improving the appearance of the house than more expensive renovation projects, such as siding replacement. Homebuilders will also add exterior trim to newly built houses as a way to enhance the architectural design and curb appeal of their properties.
Wood to Remain the Largest Material Type
Wood, which is specified for its good aesthetics, low cost, and versatility, will remain the leading material for molding and trim. However, competition from plastic and engineered wood is expected to intensify as manufacturers improve the aesthetics of these products and homeowners and contractors increasingly favor these materials for their durability and low maintenance requirements.
Strong Gains in Demand Expected in the Residential Market
The residential market will remain the top consumer of molding and trim due to the intensive use of interior and exterior decorative elements to improve the appearance of homes. In both the residential and nonresidential markets, improvement and repair activity will generate considerable demand, as the economy recovers and building owners and managers boost improvement spending to attract customers and tenants.
Study Coverage
This Freedonia industry study analyzes the $7.5 billion US molding & trim industry. It presents historical demand data (2005, 2010, and 2015) and forecasts (2020 and 2025) by material (wood, plastic, metal, engineered wood, precast concrete, fiber cement, wood-plastic composite, synthetic stone veneers, plaster), product (interior molding, stairwork, exterior trim), market (residential, nonresidential), and Census region (Northeast, Midwest, South, West). The study also evaluates company market share and competitive analysis on industry competitors including Associated Materials, Axiall, Bright Wood, Builders FirstSource, Cascade Wood Products, CRH, Fortune Brands, HB&G Building Products, Headwaters, Louisiana-Pacific, Ply Gem, Quanex Building Products, Saint-Gobain, Sierra Pacific Industries, and Woodgrain Millwork.
Read the full report: http://www.reportlinker.com/p04708290-summary/view-report.html
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
http://www.reportlinker.com
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article