In 2023, the millwork opening inventories in Canada stood at 0.976 billion Canadian dollars. Forecasted figures suggest a steady increase in value: 1.007 billion in 2024, 1.0382 billion in 2025, 1.0692 billion in 2026, 1.0999 billion in 2027, and 1.1302 billion in 2028. Year-on-year growth rates indicate a consistent upward trend, while the compound annual growth rate (CAGR) across five years stands at approximately 2.99%.
Future trends to watch for:
- Potential impact of housing market dynamics on millwork demand.
- Influence of import-export regulations and policies on supply chains.
- Technology adoption and sustainability preferences in construction and renovations.
- Economic factors such as inflation and interest rates affecting consumer spending.
