1.1 Definition and presentation
Woodworking refers to the set of activities through which the carpenters work the wood, while carpentry refers to the set of activities of construction and assembly of more elements, the latter therefore has a greater radius and differs from the former in techniques and methods of processing.
Woodworking has ancient origins, as the material was used in ancient times for the creation of a variety of objects (e.g. weapons, working tools). According to Ibisworld the sector employed more than 324,000 people in 2019 in the US.
The global market is made of players such as Huarun, Nippon, Dulux, Levis, Düfa, and Bauhinia. Moreover, the US market grew by 3.7% year-on-year between 2014-2019. The market is fully fragmented, with no company holding major shares.
The carpentry industry is dependent on the price of raw materials, where higher prices drive revenue growth. Another indicator of growth is the number of new houses built. Ultimately, this implies that the carpentry industry is also dependent on the health of the economy.
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