U.S. demand for moulding and trim is expected to rise 5.5 percent through 2020 to $9.9 billion, according to a new report from the Freedonia Group, a Cleveland-based industry market research firm.

Rising building construction activity, particularly in new housing, will drive gains. While wood will remain the leading moulding and trim material type, growing consumer preference for more durable, high-quality materials such as plastic and engineered wood will restrain wood’s share of demand gains going forward, boosting the overall value of the moulding and trim market.

Rising improvement and repair spending will also boost sales, as building managers and homeowners opt for low-cost ways to update structures.

Interior moulding 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.

For more information, follow this link.

Leave a Reply

Your email address will not be published. Required fields are marked *