November 27, 2022

U.S. demand for wood products to grow 2.4% annually through 2023: report


The demand for woodwork in the United States is expected to grow 2.4% per year in nominal terms through 2023, according to Wood Millwork: United States, a report recently released by Freedonia Focus Reports.

The gains will come from the increase in building construction activity, the aesthetic properties of wood and the perception of wood as an environmentally friendly material. However, future growth will be limited by the negative characteristics of the wood (eg, susceptibility to cracking and decay). Additionally, increased competition from plastics and other alternative materials offering a similar aesthetic, including wood patterns, will limit further gains.

More information on the report is available here.

Sales of wood moldings and trim are expected to remain the main product segment. Demand will be supported by increased activity in new housing construction and progress in office, commercial and institutional construction. Sales of hard surface wood flooring – the second largest product segment – will be driven by the expansion of home replacement and renovation business and the superior aesthetics of wood flooring.

This and other key information is presented in Wood Millwork: United States. This report forecasts the demand for woodworking in the United States in nominal US dollars at the manufacturer level until 2023. Total demand is segmented by product in terms of:

  • moldings and trim
  • hard flooring
  • doors
  • the Windows

To illustrate historical trends, total demand, various product segments and trade are provided in annual series from 2008 to 2018.

The demand of product segments is broken down by market for 2018 as follows:

  • new residential
  • home improvement and repair (I&R)
  • new advertisement
  • Commercial I&R

Carpentry is defined in this report as engineered wood carpentry, including products covered with materials such as metal and plastic. Excluded from the scope of this report are cut lumber, dimension lumber and other wood products made from logs and bolts, joinery made on construction sites and finished furniture parts and frames. . Also excluded from the scope of this report are wood doors, windows, moldings and trim, and flooring used in applications other than residential and non-residential buildings (such as transportation equipment). Re-exports of wood joinery are excluded from demand and trade figures.