Lumber & Building Material Stores in the US - Industry Market Research Report

Knock on wood: Rising disposable income will likely encourage increased demand for industry product

Over the past five years, the Lumber and Building Material Stores industry has experienced growth alongside steady growth in both housing starts and per capita disposable income. Businesses in the industry retail building materials such as lumber, hardwood, cabinets, floor coverings, roofing materials and other building goods. These goods are purchased by professional contractors and consumers engaged in remodeling and construction projects. Rising disposable income has helped ignite remodeling activity, providing additional demand for lumber and other materials used in home improvement projects. The industry is expected to have been able to post revenue growth in 2020 despite the economic uncertainty brought on by the pandemic. Thus, revenue has increased at a CAGR of 3.4% to $152.8 billion over the past five years, including an expected drop of 5.5% in 2023 alone. Further, industry profit has increased during the period as well. This industry consists of stores and dealers (e.g. lumberyards) that retail building materials such as lumber, hardwood, stones and brick. This industry also supplies cabinets, floor coverings, roofing materials, electrical and plumbing goods, doors and windows to the construction market. The industry does not include home improvement centers, paint and wallpaper specialty stores or hardware stores. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.