Under construction: Declining housing starts will hinder industry revenue growth

The Millwork industry in Ontario has experienced steady growth over the last five years, bolstered by strong performance in residential construction markets in the province and upward pressure on the price of lumber, which is the primary input for industry operators. Overall, IBISWorld estimates industry revenue has risen over the five years to 2018. Over the five years to 2023, growth is forecast to slow considerably. Ontario housing starts are forecast to decline hindering industry potential. However, continued growth in per capita disposable income should help to stimulate demand through increased remodelling projects, as consumers focus on investing in their homes to boost asset values...read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • The industry has been bolstered by strong performance in residential construction markets in Ontario
  • Industry Report - Industry Locations Chapter

    There are over 1,700 establishments in the Wood Panelling Manufacturing industry across Canada, and almost 600 of these are located in Ontario. However, while Ontario contains over one-third of national establishments, it only employs about one-quarter of the total national industry's workers, indicating that Ontario establishments are likely slightly smaller than average. Industry products are used primarily in residential construction markets, either for new construction or remodelling projects, and most facilities are primarily located close to population centres with significant construction activity. Notably, there are no players that generate a significant share of overall industry revenue, although what larger operators there are tend to be located in major cities. For...purchase to read more.

    Additional Insights for the Millwork in Ontario Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Millwork in Ontario 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 in Ontario and Residential renovation expenditure in the Millwork in Ontario industry impact industry performance..

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    What's in this report

    What is the Millwork in Ontario Industry?

    This industry manufactures hardwood and softwood cut stock and dimension stock timber (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, as well as to wood product distributors.

    Industry Products
  • Wood windows and doors
  • Lumber products
  • All other, including wood flooring
  • 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 in Ontario
  • Residential renovation expenditure
  • Per capita disposable income in Ontario
  • Value of nonresidential construction in Ontario

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Millwork in Ontario 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
  • All other, including wood flooring
  • Lumber products
  • Wood windows and doors
  • Chart: Millwork in Ontario Industry Products and Services Segmentation

  • Major Markets
  • New residential construction
  • Renovations and remodelling
  • Nonresidential construction
  • Chart: Major Market Segmentation for the Millwork in Ontario Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Millwork in Ontario

  • Basis of Competition
    Barriers to Entry
    Alexandria East, Millwork North, C.P. Loewen Enterprises Ltd., Ply Gem Holdings Inc.,
  • Table: Alexandria East - financial performance
  • Table: Millwork North - financial performance
  • Table: C.P. Loewen Enterprises Ltd. - financial performance
  • Table: Ply Gem Holdings Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Millwork in Ontario 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 in Ontario Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Housing Starts In Ontario (2009-2023)

  • 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?

    IBISWorld’s Millwork in Ontario market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    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 in Ontario:
    • 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 in Ontario 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 in Ontario, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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