Wood Window and Door Manufacturers

Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Industry Structure, How Firms Opertate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Quarterly Insight, Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 958 wood window and door manufacturers in the US produce window and door units, window and door frames, window sashes, and doors from wood or wood clad with metal or plastics. Large firms primarily use a high volume/low margin operating model, while small firms generally focus on custom products with high margins. Most large firms also produce windows and doors made of metal, plastic, or composite materials.

Competition from Alternative Materials

Wood window and door manufacturers face competition from products made with alternative types of materials, which are generally less expensive and easier to maintain.

Dependence on Residential Construction 

Demand for wood windows and doors is highly dependent on the residential construction industry, which is vulnerable to changes in economic conditions.

Industry size & Structure

The average wood window and door manufacturer operates out of a single location, employs about 54-55 workers, and generates about $14 million annually.

    • The wood window and door manufacturing industry consists of about 958 companies that employ 52,200 workers and generate about $13.6 billion annually.
    • The industry is concentrated at the top and fragmented at the bottom; the top 50 companies account for about 82% of industry revenue.
    • Large firms include Pella, Andersen, Masonite, JELD-WEN, and Weathershield. Large firms offer products made with alternative materials (vinyl, steel, aluminum, fiberglass) and most have operations in foreign countries.
                                Industry Forecast
                                Wood Window and Door Manufacturers Industry Growth
                                Source: Vertical IQ and Inforum

                                Coronavirus Update

                                Apr 21, 2022 - Ukraine War Further Disrupts Global Wood Product Markets
                                • Russia’s invasion of Ukraine is disrupting global wood product trade flows, especially in Europe. According to Wood Resources International, Russia, Belarus, and Ukraine exported 34 million tons of lumber in 2021, and 25% of that volume was exported to countries that have sanctioned Russia and Belarus. Europe’s timber imports from Russia and Belarus accounted for nearly 10% of the continent’s consumption in 2021. Wood certification organizations Forest Stewardship Council (FSC) and Programme for the Endorsement of Forest Certification (PEFC) have designated all timber from Russia and Belarus “conflict timber,” which cannot be used to manufacture certified products, including lumber and plywood. Even after peace returns to Europe, timber trade flows have likely been permanently altered.
                                • Even before Russia invaded Ukraine, lumber markets were highly volatile. Lumber traded at $938 per thousand board feet on April 19, down from the record high of $1,686 per thousand board feet on May 7, 2021, but up from $454 per thousand board feet on September 15. Lumber prices have oscillated widely during the coronavirus pandemic, falling from the mid-$400s in January 2020 to $264 in late April before surging to $948 in September. The price then dropped to $495 in late October 2020 before starting a fairly steady climb to the record set on May 7, 2021.
                                • Even as pandemic conditions wane, homeowners are expected to continue to invest in home improvements. Home remodeling spending is expected to remain strong for most of 2022 before tapering off in the fourth quarter, according to the Leading Indicator of Remodeling Activity (LIRA) report released in January by the Joint Center for Housing Studies at Harvard. Homeowner improvements and repairs are expected to increase 11.3% to $390 billion in the first quarter of 2022 compared to Q2 2021. On a year-over-year basis, quarterly remodeling spending levels are forecast to rise 15% in Q2, 19.7% in Q3, then moderate slightly to 17.3% in Q4 when spending will reach $430 billion.
                                • Total construction spending increased 0.5% in value month over month on an adjusted basis in February 2022, according to the US Census Bureau. Total unadjusted construction spending rose 10.4% in the first two months of 2022 compared to the same period in 2021. Residential construction spending increased 1.1% month over month in February and was up 15.5% for the first two months of 2022. Nonresidential construction spending decreased 0.1% month over month but increased 5.8% in the first two months of the year compared to the same period a year earlier.
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