Moulding and Trim Demand to Rise Through 2022April 18th, 2018 by Editor
A new study shows that demand for wood moulding and trim is projected to increase 3.7 percent annually to $5.5 billion in 2022. That’s the slowest growth rate for any material in the segment.
Despite that, wood will still account for more than half of moulding and trim sales in 2022, according to researchers from the Freedonia Group, an international industry market research company based in Cleveland, Ohio.
In 2017, wood was the dominant moulding and trim material, accounting for 53 percent of the market despite declines from 2007 to 2017. Wood lost market share to engineered wood and plastic, which can cost less than natural wood, is more durable and has fewer maintenance requirements. Wood is expected to continue to lose share through 2022, though it will remain popular because of its aesthetic appeal and versatility.
Gains will be driven by increases in new housing completions, especially in the South and West. Additionally, a rise in the number of home renovation projects will boost moulding and trim demand.
Demand also will be driven by a strong rise in office, commercial and institutional building construction activity. Growth in the commercial improvement and repair market will be more restrained, as metal is a popular option for moulding and trim material because it’s durable and rarely requires replacement.
Engineered wood and plastic moulding and trim are expected to record above-average sales gains through 2022. More consumers will opt for engineered wood over natural wood because of engineered wood’s greater durability and generally lower cost. Growth in the plastic moulding and trim market will be driven by the material’s resistance to damage caused by exposure to elements or by insects.
For more information or to purchase the study, follow this link.