Molding is a technique extensively utilized to add beauty and value to a household. Moldings are available in different materials and styles, ranging from sophisticated styling of accent and crown to the classic elegance of traditional molding.
The various types of molding include baseboard, crown molding, window casing, door casing, chair rail, wainscoting, bead board, board and batten, tray ceiling, coffered ceiling, shiplap, and tongue and groove. Wood is a common interior trim material used in residential and non-residential sectors. Various wood joints, such as clear, finger-jointed, flexible moldings, solid jamb, and split-jamb, are utilized in residential and non-residential sectors.
Key Drivers of Molding and Trim Materials Market
Rising demand for molding and trim materials in residential and non-residential sectors, owing to intensive usage of exterior and interior decorative materials to improve the appearance of household, is a major factor that is projected to drive the global molding and trim materials marketduring the forecast period
Rise in urbanization, increase in government investments on upgrade of current infrastructure, coupled with increase in investments in construction & infrastructure development sectors in developing and developed countries are driving new construction and reconstruction activities in developed as well as developing countries. This is a key factor driving the global molding and trim materials market. Moreover, various advantages offered by molding and trim materials, such as high durability, high efficiency, is another factor that is expected to boost the adoption of these materials. This, in turn, is projected to drive the global molding and trim materials market. Furthermore, a rise in the demand for compact construction material from end-use sectors, including residential and non-residential, is an important factor that is projected to further propel the global molding and trim materials market during the forecast period.
Increasing awareness among consumers regarding advantages of enhanced quality molding materials in residential buildings is also expected to boost the market. Rise in demand for molding and trim materials in commercial applications, owing to their excellent physical properties, is another factor that is expected to propel the global molding and trim materials market.
Based on product, the global molding and trim materials market can be segmented into wood, plastic, metal, and others (engineered wood, etc.). The wood segment is projected to hold a major share of the market, in terms of revenue, as wood is utilized extensively in new residential construction for stair-work and molding materials. High demand for wood molding owing to its favorable esthetic appearance in the residential sector is another factor that is expected to boost the segment during the forecast period. High demand for wood molding for stair-work applications is also expected to propel the wood segment demand in the near future.
Based on application, the global molding and trim materials market can be divided into residential and non-residential. In terms of revenue, the residential segment is projected to hold a major share of the global molding and trim market.
Asia Pacific to be Key Region for Molding and Trim Materials Market
In terms of region, the global molding and trim materials market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
In terms of revenue, the market in Asia Pacific is anticipated to account for a significant share of the global market for molding and trim materials. Demand for molding and trim material is increasing rapidly in the residential sector in countries across the region. Moreover, increase in new housing construction activities and partial recovery of the non-residential sector are additional factors that are projected to boost the market in Asia Pacific during the forecast period.
The global molding and trim materials market was highly fragmented in 2018. This trend is expected to continue during the forecast period. Several major players engage in advance product development activities in order to enhance their product portfolio.
Key manufacturers operating in the global market include:
