CONESTOGA WOOD SPEC.
BUSINESS Sales for the wood components industry continue to look steady, with many North American manufacturers basing their outlooks on the improved construction and remodeling markets. This optimism looks to continue into next year as builder confidence in the market continues to be relatively good.
Cabinetry and furniture are among the major markets for North American components. Wood components are also used in decorative and specialty products, such as plaques, sporting goods and musical instruments, as well as for industrial products, such as pallets, reels and vehicle parts.
GROWING Building products is another major — and growing — market for wood components. Moulding and trim in particular is projected to grow nearly 11 percent per year, to $9.0 billion in 2016. The study by Freedonia Group also notes that engineered wood moulding and millwork is projected to grow at a faster pace than products made from wood or plastic due to their pricing and ease of use.
|Sources: National Assn. of Home Builders/HMI, Wood Components Mfrs. Assn., Wood Products Mfrs. Assn., The Freedonia Group, U.S. Census Bureau, VA Tech.
||Components are used in $85+ billion furniture, cabinet and interior woodwork industries.
||Red oak ranks as a top species choice for wood components, followed by maple, cherry and poplar.
||WCMA's survey lists the Top 5 products: mouldings, blanks, stair parts, edge glued panels and turnings.
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