Wooden Interior Door Market Research Report and Outlook by 2028

The market for wooden interior doors is projected to expand from US$ 15,459.82 million in 2022 to US$ 21,477.53 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.6% during this period.

Key drivers of this growth include the booming construction sector and the rising living standards of consumers in North America, which are significantly boosting the wooden interior door market. The construction of single-family homes and privately owned residences has reached its highest level in North America since 2010.

• As per the statistics from the US Census Bureau and the US Department of Housing and Urban Development, the annual rate of privately owned housing completions was 1,309,000 in February 2022, marking a 5.9% increase from January's estimate of 1,236,000. Additionally, single-family housing completions in February 2022 were recorded at 1,034,000, which is a 12.1% rise compared to January's figure of 922,000.
• Jonas Construction Software Inc reports that Canada?s construction industry is anticipated to exceed US$ 430 billion, with a projected growth rate of 8.5% by 2024.

Moreover, the increase in home improvement and renovation activities across North America is further driving the growth of the wooden interior door market. The Joint Center for Housing Studies at Harvard University noted a 16% annual increase in home improvement spending, rising from US$ 350 billion in Q2 2021 to US$ 406 billion in Q2 2022. By July 2022, one-third of Americans were involved in home improvement projects, with 22% having recently completed renovations and 10% planning to start new projects. Therefore, the expansion of the construction sector, coupled with the rise in home improvement and remodeling activities, are pivotal factors fueling the growth of the wooden interior door market.

Effects of the COVID-19 Pandemic on the Wooden Interior Door Market

The COVID-19 pandemic, which originated in China, had a profound impact on several neighboring nations, including India, South Korea, and Japan. In 2020, the pandemic adversely affected the wooden interior door market, as restrictions on commercial activities disrupted the supply chain, affecting everything from raw material procurement to the delivery of finished products. This led to a decrease in demand for wooden interior doors from both residential and commercial sectors due to construction delays and international trade restrictions caused by lockdowns. Consequently, these factors severely limited construction activities, hindering the growth of the wooden interior door market in that year.

However, in 2021, as lockdowns were lifted and vaccination efforts progressed, the flow of raw materials resumed, and construction projects restarted. Additionally, with rising disposable incomes and an increase in renovation and construction activities, manufacturers of wooden interior doors began relocating their operations to various countries in the Asia Pacific region. The significant growth in office space construction and the rapid development of the real estate sector in this region are expected to positively influence the wooden interior door market.

In the UK, the construction industry saw a growth of 3.4% in 2022, driven by a surge in new construction orders and ongoing repair and maintenance projects. The demand for home improvement has surged dramatically in the UK. For example, a 2021 survey by Houzz & Home, which included over 3,000 UK respondents, revealed that spending on home renovations increased by 36% compared to the previous year. Median renovation expenditures among millennials aged 25 to 39 soared by 70% in 2020 compared to 2019. According to Rated People Ltd, 49% of UK residents undertook home improvements in 2021, reflecting a 50% increase in demand for home improvement compared to the early pandemic period in 2020. This significant rise in home improvement and remodeling activities among UK residents is a key driver of the wooden interior door market in the country.

China stands as the largest construction market globally and plays a crucial role in supporting the national economy. In 2021, the total value of building construction in China reached US$ 1.14 trillion, with residential construction accounting for 63% of this total. In 2022, local government funding for infrastructure construction rose to 39%, up from 18% in 2021. Investment in infrastructure saw a 7.4% increase from January to July 2022. In September 2022, China allocated US$ 29 billion in special loans to assist developers in completing stalled housing projects. Furthermore, China's urbanization rate is among the highest globally, with projections indicating that by 2025, the country will have built the equivalent of 10 cities the size of New York. Additionally, China is the second-largest exporter of wooden doors worldwide, with 75,442 shipments recorded in 2022. These factors collectively contribute to the growth of the wooden interior door market in China.

Key players in the wooden interior door market include Jeld-Wen, Holding Inc; Marvin Ltd; Masonite International Corp; Woodgrain Inc; and Puertas Sanrafael SA.

The overall size of the wooden interior door market has been determined through a combination of primary and secondary research. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aimed to provide an overview and forecast of the wooden interior door market size across all segments. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the data and gain deeper analytical insights. Participants included VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the wooden interior door market.