Builders’ Joinery And Carpentry Of Wood Market To Reach US$ 54.23 Bn By 2023

According to a new market report published by Credence Research Inc., “Builders’ Joinery and Carpentry of Wood Market (By Product type (Cellular wood panels, Windows, French windows and their frames, Assembled parquet panels, Doors and their frames and thresholds, Shingles and shakes and Others (Blocks, strips, friezes and among others)), Growth, Future Prospects & Competitive Analysis, 2016 – 2023”, the worldwide Builders’ Joinery and Carpentry of Wood market was valued at US$ 26.3 Bn in 2015. It is projected to grow at a CAGR of 2.4% from 2016 to 2023.

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Market Insights:

New opportunities have led to rapid changes in industrialization worldwide. Not only the emerging economies but also the developed economies are experiencing gradual shift in their lifestyle. The rise in disposable income is one of the major factors responsible for the market growth. Due to increase in disposable income, people have changed their standards of living and shifted towards luxury products. This changing lifestyle has led to demand for luxury objects which include cars, dwelling, electronic items and furniture among others. The growing demand for luxurious items has therefore boosted the market demand for builders’ joinery and carpentry of wood market.

Materials such as steel, iron, concrete and bricks are also expected to gain high market demand in the near future. These materials comprise most of the qualities as that of builder joiner and carpentry of wood. These building materials are therefore expected to substitute builders’ joinery and carpentry of wood thereby posing threat to the growth of global builders’ joiner and carpentry of wood market.

Competitive Insights:

The market is competitive due to presence of various niches, small and multinationals players. Some of the key players present in this market are Medina Joinery, Meer End Staircases & Joinery, Stairways Midlands Ltd, Super Bebris, SIA BYKO-LAT, Young Lim Forestry Co. Ltd, Ante-holz GmbH and Woodfellas Carpentry & Joinery Limited among others.

Key Trends:

  • Growing Building & Construction Industry Worldwide
  • Changing lifestyle and behavior of consumers
  • High trend for modern architecture in emerging economies