Industrial Wood Components Demand to Reach $8.8B

Posted by Karen Koenig | Posted: 08/07/2013 1:46PM

 

click image to zoomIndustrial Wood Products IBISWorldIBISWorld Demand for industrial wood products is expected to grow an average of 7 percent annually from 2013 to 2018 to $8.8 billion, according to a recent study by IBISWorld. The current market is $6.3 billion.

Renewed construction activity, both in new homes and remodeling, along with rising household incomes, are boosting demand for these wood products. Household products, including picture frame mouldings, kitchenware, fence posts, baskets and more, accounts for 48 percent of the current revenue of the market, according to the study: Wood Product Manufacturing in the U.S. Other segments of note include: kiln-dried lumber, wood reels and handles.

As demand for these industrial wood products increases, IBISWorld projects industry employment likewise will increase, growing at an average annual rate of 2.3 percent to 32,437 employees over the next five years.

 

About the Author

Karen M. Koenig

Karen M. Koenig has more than 25 years of experience in the woodworking industry, including visits to wood products manufacturing facilities throughout North America, Europe and Asia. As Editor-in-Chief of Woodworking Network magazine (formerly Wood & Wood Products), Karen’s primary responsibilities include spearheading the writing, editing and coordinating of the editorial content of the publication, along with the Red Book resource guide and the Red Book online source and supply directory (RedBookOnline.com). She is also a frequent contributor to other Woodworking Network online and print media. She can be reached at kkoenig@woodworkingnetwork.com or Google+.

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