Sanded down: Rising per capita income and home prices has sustained industry performance

The Millwork industry in Canada manufactures products such as wooden windows, doors and flooring products, in addition to lumber cut to specific shapes and dimensions. Industry products are used primarily in construction products, and as a result, industry revenue is closely tied to downstream construction markets. Demand from the US construction sector played a vital role in industry performance during most of the reporting period. Due to high levels of household debt and likely continued increases in interest rates over the five years to 2024, housing construction is estimated to remain slow during the outlook period, tempering demand for new building products. However, home improvement spending is expected to continue exhibiting more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Demand from the US construction sector has played a vital role in industry performance
  • Strong growth in international trade has helped drive industry revenue
  • Slow growth in the housing sector will cool demand for millwork product
  • Industry Report - Industry SWOT Analysis Chapter

    The Millwork industry in Canada is in the mature phase of its life cycle, characterized by steady growth and compared with the overall Canadian economy, there is widespread market acceptance of industry services and a moderate level of technological change. Over the 10 years to 2024, industry value added, which measures an industry's contribution to the overall economy, is expected to grow at an annualized rate of 2.8%, which is higher than the estimated annualized growth of 1.7% in Canadian GDP during the same period. This is partly due to the cyclical nature of the industry, as it is closely linked to domestic construction markets. The...purchase to read more.

    Additional Insights for the Millwork Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Millwork Industry are

  • Supply contracts in place for key inputs
  • Access to high-quality inputs
  • Production of premium goods/services
  • IBISWorld analysts also discuss how external factors such as Housing starts and Canadian effective exchange rate index in the Millwork industry impact industry performance..

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    What's in this report

    What is the Millwork Industry?

    This industry manufactures hardwood and softwood cut stock and dimension stock timber, such as lumber and worked wood products cut or shaped into specialized sizes; wood windows and doors; and other millwork, such as wood flooring. These reshaped wood products are mainly sold to housing and other building construction industries and their contractors, in addition to wood product distributors.

    Industry Products
  • Wood windows and doors
  • Cut stock and resawn lumber
  • Flooring and other products
  • Industry Activities
  • Wooden window
  • Wooden door
  • Wooden floor
  • Specialized lumber cutting and shaping
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Housing starts
  • Canadian effective exchange rate index
  • Residential renovation expenditure
  • Per capita disposable income
  • Value of nonresidential construction

  • Current Performance
  • Construction volatility
  • Export growth
  • Industry structure and profit
  • Substitute competition
  • Regulatory assistance
  • Chart: Revenue Growth

  • Industry Outlook
  • Construction activity
  • International trade
  • Table: Millwork Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Millwork Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Homebuilders in Canada
  • Apartment & Condominium Construction in Canada
  • Industrial Building Construction in Canada
  • Lumber Wholesaling in Canada
  • Hardware Stores in Canada
  • Lumber & Building Material Stores in Canada
  • Commercial Building Construction in Canada
  • Municipal Building Construction in Canada

  • Key Selling Industries
  • Electric Power Transmission in Canada
  • Sawmills & Wood Production in Canada
  • Wood Panelling Manufacturing in Canada

  • Products & Services
  • Flooring and other products
  • Cut stock and resawn lumber
  • Wood windows and doors
  • Chart: Millwork Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Residential repair and remodelling
  • New residential construction
  • Exports
  • Nonresidential construction
  • Chart: Major Market Segmentation for the Millwork Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    WagesPurchasesProfitDepreciationMarketingRentUtilitiesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Millwork

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Millwork Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Millwork Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Millwork Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Marketing (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)
  • Housing Starts (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Cut Stock
  • Wood products cut or shaped to specific sizes.
  • Hardwood
  • Wood from broadleaved trees that is used for construction, flooring and furniture.
  • Millwork
  • Woodwork products, such as doors, doorframes, window casings and floorboards.
  • Softwood
  • Wood from coniferous trees that is resistant to water and used for millwork, building components and furniture.
  • What Our Customers Say

    Why buy this report?

    The Millwork market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Millwork:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Millwork market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Millwork, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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