CLEVELAND - U.S. demand for moulding, trim and stair parts is expected to increase 11% per year, which would raise annual sales to $9 billion in 2016.

Even if the forecast of double-digit growth is realized, demand for mouldings and trim will still be below the nearly $9.5 billion recorded in 2006, according to a new study, Moding & Trim, available from The Freedonia Group Inc.

Freedonia said wood will remain the leader for both interior and exterior mouldings. However, wood will continue to receive greater competition for exterior applications from plastic and engineered wood products, which better resist degradation caused by insects and exposure to the elements.

In fact, Freedonia said engineered wood moulding and trim will make the biggest market share gains between now and 2016 because of they look like wood but do not require painting or staining before installation.

Wood will remain the dominant material for residential stairwork, growing greater than 11% through 2016, according to Freedonia projections. Metal will continue hold the market share lead for the non-residential stairways.

This is the third report Freedonia has released in the past six months pointing to a recovery in key wood product markets. Freedonia forecasts that U.S. demand for wood windows and will climb 8.1% per year to reach $10.4 billion in 2016.

U.S. cabinet sales are expected to increase 8.2% annually, hitting $15.2 billion in 2015, according to Freedonia.

© 2012 by The Freedonia Group Inc.

The 328-page Molding & Trim report, published in December 2012, is available for $5,100 from The Freedonia Group., Inc. For more information, visit freedoniagroup.com.