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March 21, 2013 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
US Molding & Trim Market
US demand to rise nearly 11% annually through 2016
US demand for molding and trim is forecast to rise nearly 11 percent per year to
$9.0 billion in 2016. A sharp rebound in new housing construction and a partial recovery in nonresidential building construction will drive gains. However, this revival in new construction activity will still not be sufficient to raise molding and trim demand in 2016 to the level achieved in 2006.
Engineered wood to see some of the best growth
Engineered wood molding and trim is forecast to advance at the most rapid pace of all materials through 2016. The rising use of these materials in the fast-growing new residential market will fuel gains. Home builders will choose engineered wood products because they look like wood, but do not need to be painted or stained prior to installation. This will support the use of engineered wood as molding and exterior trim.
Residential market to outpace nonresidential demand
Within each of the market segments for molding and trim, demand shares by material in 2016 will be similar to those in 2011. Therefore, overall gains for the different materials will primarily be shaped by the underlying growth in the respective market segments, rather than from increases in share within the particular market segments. For example, because wood is used extensively in new residential molding and stairwork, the rebound in new residential construction will support demand increases for wood molding and trim. Residential consumers overwhelmingly opt for wood molding due to its favorable aesthetics. Wood will see an increase in the stairwork segment, spurred by a rebound in housing completions, as most wood stairways are installed in residences.