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Millwork in the US - Market Research Report (2015-2030)

Jullian Guirguis Jullian Guirguis New York, United States Last Updated: February 2025 NAICS 32191

Revenue

$33.7bn

2025

$33.7bn

Past 5-Year Growth

Profit

$X.Xbn

Employees

117k

Businesses

10,409

Wages

$X.Xbn

Millwork in the US industry analysis

The industry has experienced some turbulence over the past five years, characterized by a slight decline in revenue. Despite these challenges, companies have increased profit through effective cost management, primarily by reducing logistics and administrative fees. These reductions have facilitated greater financial health despite overall revenue declines. Specific advancements in production techniques, such as integrating CNC (Computer Numerical Control) machining, have increased precision and reduced waste materials, lowering production costs. Automation technologies have streamlined operations and mitigated labor costs. The industry's resilience is partly because of these operational enhancements, enabling companies to maintain competitiveness. Consumer demand for custom and sustainable millwork products has also prompted manufacturers to adopt cleaner and cost-effective materials like engineered wood. The downstream market dynamics, influenced significantly by the construction sector, have directly impacted millwork sales, with fluctuations in new housing and renovation projects causing changes in demand. Millworkers have improved their offerings by incorporating sustainable processes in compliance with new environmental standards. For instance, the 2018 updates to the EPA's regulations on formaldehyde emissions in composite wood products have driven changes in product formulations. This adaptation to regulatory guidelines reflects the industry's commitment to compliance and sustainability.

Trends and Insights

  • Revenue in the industry has endured a minor downturn over the past five years. Despite this, profit has been on the rise because of efficient cost management and increased demand for residential millwork products. The industry's ability to maintain profitability in a declining revenue climate highlights operational adaptability in production processes.
  • Wood windows and doors represent nearly half of the millwork products, maintaining a strong market presence. Known for their natural insulation properties and aesthetic appeal, these products are highly sought after in new construction and renovation projects. Their dominance underlines a preference for traditional wood materials that provide both functionality and visual charm in architectural design.
  • The Southeast and Great Lakes regions house the largest millwork industry locations. These areas are rich in forestry resources, which are vital for raw material sourcing and strategic advantages for manufacturing and distribution operations. The regional concentration supports efficient distribution networks and supply chain management tailored to the industry's material-heavy needs.
  • The industry is characterized by low market concentration, representing a fragmented competitive environment. Many small and medium-sized companies offer specialized millwork products tailored to clients' needs. This fragmentation limits the influence of any single entity on market outcomes and encourages variety in millwork product offerings.

Access hundreds of data points and trends

  • Market estimates from 2015-2030
  • Critical performance data and rankings
  • Detailed analysis of competitive forces and the external environment
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Industry Statistics and Trends

Market size and recent performance (2015-2030)

Industry revenue has declined at a CAGR of 0.5 % over the past five years, to reach an estimated $33.7bn in 2025.

Trends and Insights

Revenue declines persist as demand shifts because of changing consumer preferences and material costs

  • Revenue in the millwork industry has seen a contraction, decreasing at a compound annual growth rate (CAGR) of 0.5% over the past five years, reaching $33.7 billion. This decline is attributed to shifts in consumer demand, emphasizing sustainable and eco-friendly millwork products. Companies in millwork are integrating digital technologies and advanced automated machinery to improve production processes. Automated sawmill equipment enables efficient and precise cutting of wood, reducing waste and production time, which is crucial in a cost-sensitive industry. Also, computer-aided design (CAD) software allows millworkers to create highly customizable windows and doors tailored to consumer preferences for aesthetics and functionality.
  • Additional trends and insights available with purchase
Millwork in the US
Revenue (2015-2030)
IBISWorld Logo Source: IBISWorld

Industry outlook (2025-2030)

Market size is projected to grow over the next five years.

Trends and Insights

Sustainable practices and technological integration drive future revenue growth

  • Over the next five years, the millwork industry is poised for a positive outlook, with revenue expected to increase at a compound annual growth rate (CAGR) of 1.3%, reaching $36.0 billion. A significant trend emerging in the industry is a move toward sustainable practices, emphasizing using materials such as reclaimed wood, bamboo and recycled composites. Companies are integrating high-efficiency equipment like automated kilns for drying wood, reducing energy consumption in preparation processes. This shift aligns with environmental objectives to lower carbon footprints using renewable and recycled resources.

Biggest companies in the Millwork in the US

Company
Market Share (%)
2025
Revenue ($m)
2025
Profit ($m)
2025
Profit Margin (%)
2025
2,558.9
44.6
1.7

To view the market share and analysis for all 1 top companies in this industry, view purchase options.

Products & Services Segmentation

Millwork in the US
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Wood windows and doors, Cut stock, resawed lumber and planed lumber and Flooring and other millwork products. Wood windows and doors is the largest segment of the Millwork in the US.

Trends and Insights

Wood windows and doors remain the largest contributor to revenue, with impressive growth metrics over the past five years

  • Wood windows and doors are core products constructed from lumber and designed for installation in various residential and commercial settings. They account for almost half of the industry's revenue contribution, highlighting their paramount role. Their traditional aesthetic and insulation properties have made them a preferred choice for renovations and new construction projects. The trend of rising home renovations and aesthetic improvements has fueled their popularity and sales. The variety in wood types and finishes offers extensive customization options, appealing to diverse consumer preferences.
  • More insights available in the full report

Table of Contents

About this industry

Industry definition

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

What's included in this industry?

Wood windows and doorsCut stock, resawed lumber and planed lumberFlooring and other millwork products

Companies

Jeld-Wen

Purchase this report to view all 1 major companies in this industry.

Related Terms

MILLWORKCUT STOCKHARDWOODSOFTWOODDIMENSION STOCK

Industry Code

NAICS 2017

NAICS 32191 - Millwork in the US

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

Revenue in the industry has endured a minor downturn over the past five years. Despite this, profit has been on the rise because of efficient cost management and increased de...

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2015-2024) and forecast (2025-2030)
  • Employees, including historical (2015-2024) and forecast (2025-2030)
  • Businesses, including historical (2015-2024) and forecast (2025-2030)
  • Profit, including historical (2015-2025)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Wood windows and doors represent nearly half of the millwork products, maintaining a strong market presence. Known for their natural insulation properties and aesthetic appea...

In this chapter

  • Products & Services
  • Major Markets
  • International Trade

Key metrics

  • Largest market segment and value in 2025
  • Product innovation level
  • Total imports, level and trend
  • Total exports, level and trend
  • Trade Balance

Charts

  • Products & services segmentation in 2025
  • Major market segmentation in 2025
  • International trade, including imports by country and exports by country

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services
  • Recent trends in import and export volumes, country of origin or destination, and expected future trends

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

The Southeast and Great Lakes regions house the largest millwork industry locations. These areas are rich in forestry resources, which are vital for raw material sourcing and...

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each state
  • Share of population compared to establishments in each region in 2025

Tables

  • Number and share of establishments in each state in 2025
  • Number and share of revenue each state accounts for in 2025
  • Number and share of wages each state accounts for in 2025
  • Number and share of employees in each state in 2025

Detailed analysis

  • Geographic spread of the industry across North America, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

The industry is characterized by low market concentration, representing a fragmented competitive environment. Many small and medium-sized companies offer specialized millwork...

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2020-2025
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

WEYERHAEUSER CO is an industry leader with a strong commitment to sustainability and responsible forestry resource management. The company leverages its extensive timberlands...

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2021 through 2025
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2025
  • Overview of Jeld-Wen's performance by revenue, market share and profit margin from 2019 through 2025

Detailed analysis

  • Description and key data for Jeld-Wen, and factors influencing its performance in the industry

External Environment

Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

Analyst insights

Environmental regulations, particularly the Formaldehyde Emission Standards for Composite Wood Products Act enacted in 2015 as part of the Toxic Substances Control Act (TSCA) ...

In this chapter

  • External Drivers
  • Regulation & Policy
  • Assistance

Key metrics

  • Regulation & policy level and trend
  • Assistance level and trend

Charts

  • Regulation & Policy historical data and forecast (2015-2030) 
  • Assistance historical data and forecast (2015-2030) 

Detailed analysis

  • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
  • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
  • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

Financial Benchmarks

View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

Analyst insights

Profit constitutes a substantial segment of the industry's financial structure. Efficient operational management allows companies to navigate cost fluctuations in raw materia...

In this chapter

  • Cost Structure
  • Financial Ratios
  • Key Ratios

Key metrics

  • Profit margin, and how it compares to the sector-wide margin
  • Average wages, and how it compares to the sector-wide average wage
  • Largest cost component as a percentage of revenue
  • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

Charts

  • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
  • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2025
  • Investment vs. share of economy

Data tables

  • Industry Multiples (2018-2023)
  • Industry Tax Structure (2018-2023)
  • Income Statement (2018-2023)
  • Balance Sheet (2018-2023)
  • Liquidity Ratios (2018-2023)
  • Coverage Ratios (2018-2023)
  • Leverage Ratios  (2018-2023)
  • Operating Ratios (2018-2023)
  • Cash Flow & Debt Service Ratios (2015-2030)
  • Revenue per Employee (2015-2030)
  • Revenue per Enterprise (2015-2030)
  • Employees per Establishment (2015-2030)
  • Employees per Enterprise (2015-2030)
  • Average Wage (2015-2030)
  • Wages/Revenue (2015-2030)
  • Establishments per Enterprise (2015-2030)
  • IVA/Revenue (2015-2030)
  • Imports/Demand (2015-2030)
  • Exports/Revenue (2015-2030)

Detailed analysis

  • Trends in the cost component for industry operators and their impact on industry costs and profitability 

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2015-2030)
  • IVA (2015-2030)
  • Establishments (2015-2030)
  • Enterprises (2015-2030)
  • Employment (2015-2030)
  • Exports (2015-2030)
  • Imports (2015-2030)
  • Wages (2015-2030)

Top Questions Answered

Unlock comprehensive answers and precise data upon purchase. View purchase options.

What is the market size of the Millwork in the US industry in United States in 2025?

The market size of the Millwork in the US industry in United States is $33.7bn in 2025.

How many businesses are there in the Millwork in the US industry in 2025?

There are 10,409 businesses in the Millwork in the US industry in United States, which has grown at a CAGR of 1.9 % between 2020 and 2025.

Has the Millwork in the US industry in United States grown or declined over the past 5 years?

The market size of the Millwork in the US industry in United States has been declining at a CAGR of 0.5 % between 2020 and 2025.

What is the forecast growth of the Millwork in the US industry in United States over the next 5 years?

Over the next five years, the Millwork in the US industry in United States is expected to grow.

What are the biggest companies in the Millwork in the US market in United States?

The biggest company operating in the Millwork market in United States is Jeld-Wen

What does the Millwork in the US in United States include?

Wood windows and doors and Cut stock, resawed lumber and planed lumber are part of the Millwork in the US industry.

Which companies have the highest market share in the Millwork in the US in United States?

The company holding the most market share in United States is Jeld-Wen.

How competitive is the Millwork in the US industry in United States?

The level of competition is moderate and steady in the Millwork in the US industry in United States.

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Competitors

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Methodology

How are IBISWorld reports created?

IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.

Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.

IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.

What data sources do IBISWorld analysts use?

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.

Key data sources in the US include: 

  • US Census Bureau
  • US Bureau of Labor Statistics
  • US International Trade Commission

Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.

These sources include:

  • Industry and trade associations
  • Industry federations or regulators
  • Major industry players annual or quarterly filings

Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.

How does IBISWorld forecast its data?

IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.

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