Industrial Wood Components Demand to Reach $8.8B
August 9, 2013 | 7:18 pm UTC

Industrial Wood Components Demand to Reach $8.8BDemand 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.

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