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.
CONESTOGA WOOD SPEC.
Cabinet Doors & Drawers
Moulding & Trim
* 28.1%: U.S. & Canadian component exports into China.
* 25.0%: Wood components made from red oak.
* 28.0%: The cabinetry market for wood components.
Source: National Assn. of Home Builders/HMI * Wood Component Mfrs. Assn. * Wood Products Mfrs. Assn. * The Freedonia Group * U.S. Census Bureau * Va Tech
Components are used in the $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.
MAJOR MARKETS FOR COMPONENTS & DIMENSION STOCK Cabinetry 28% Furniture 23% Building Products 26% Specialty Products 12% Industrial Products 12% Other 1% Source: Wood Component Manufacturers Assn. 2013 Market Study Note: Table made from pie chart. 2013 PRIMARY EXPORTS MARKETS FOR U.S. & CANADIAN COMPONENTS (BASED ON SALES) ITALY 2.4% GERMANY 8.4% MEXICO 8.7% UNITED STATES 11.1% UNITED KINGDOM 14.1% CANADA 24.1% CHINA 28.1% Source: Wood Component Manufacturers Assn. 2013 Market Study Note: Table made from bar graph.