NAICS 32191 - Millwork
This industry comprises establishments primarily engaged in manufacturing hardwood and softwood cut stock and dimension stock (i.e., shapes); wood windows and wood doors; and other millwork including wood flooring. Dimension stock or cut stock is defined as lumber and worked wood products cut or shaped to specialized sizes. These establishments generally use woodworking machinery, such as jointers, planers, lathes, and routers to shape wood.
Industry trends:
The millwork industry, classified under NAICS 32191, is experiencing several noteworthy qualitative trends. Sustainability remains a key focus, driven by increasing consumer demand for eco-friendly products and tighter regulatory measures. Companies are heavily investing in sustainable sourcing of raw materials, with a notable shift towards certified wood and reclaimed materials. Digital transformation is another significant trend, as firms adopt advanced manufacturing technologies like CNC machines and automation to improve precision, reduce waste, and enhance productivity.
Customization and personalization are gaining traction as more consumers seek unique, tailor-made products. This trend is particularly strong in the residential sector, where bespoke cabinetry and architectural millwork are in high demand. The integration of smart technology in millwork products, such as automated window treatments and smart cabinetry, is gradually becoming a differentiator in the market.
Looking ahead, the near future for the millwork industry is promising but will require adaptation to evolving trends. The adoption of green building standards and smart home technologies is expected to accelerate. Companies that can leverage digital tools for design and production, while meeting sustainability standards, are likely to see competitive advantages. Economic factors and fluctuations in demand for housing and commercial spaces will also play a crucial role in shaping the industry's trajectory in the coming years.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.