Crown Moulding Market Trend, Share, Growth, Size Analysis and Forecast 2030

Crown Moulding Industry Prospective:

The global crown moulding market size was worth around USD 3200 million in 2022 and is predicted to grow to around USD 4200 million by 2030 with a compound annual growth rate (CAGR) of roughly 3.5% between 2023 and 2030.          

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Crown Moulding Market: Overview

A type of cornice called crown moulding is made from ornamental moulding that is placed on top of an interior wall. Additionally, doors, windows, pilasters, and cupboards are covered in it. Crown moulding can be used above doors, windows, or cabinets, but it is usually placed where the walls and ceiling meet. Wood crown treatments can consist of a single piece of trim or be assembled from several parts to give a more ornate appearance.

Key Insights

• As per the analysis shared by our research analyst, the global Crown Moulding market is estimated to grow annually at a CAGR of around 3.5% over the forecast period (2023-2030).
• In terms of revenue, the global Crown Moulding market size was valued at around USD 3200 million in 2022 and is projected to reach USD 4200 million, by 2030.
• The growing demand for Crown Moulding from residential and commercial spaces is expected to drive crown moulding market growth over the forecast period.
• Based on the type, the polyurethane segment is expected to hold the largest market share over the forecast period.
• Based on the application, the general purpose segment is expected to dominate the market over the forecast period.
• Based on the end-user, the commercial segment is expected to grow at the fastest rate over the forecast period.
• Based on region, the Asia Pacific is expected to hold the largest market share over the forecast period.

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Crown Moulding Market: Growth Drivers

The increasing construction sector drives market growth

In the growing construction sector such as housing booms or the development of new commercial spaces, the demand for crown molding rises as builders and property owners seek to enhance the interior aesthetics of their properties. According to secondary sources, in the United States, there were 5.9 million commercial buildings with 96 billion square feet of floor area in 2018; this represents an 89% increase in floor space and a 56% rise in the number of structures since 1979. Commercial building floor space is projected to expand by 29% from 2022 to 124.6 billion square feet by 2050. Thus, the aforementioned stats are expected to drive the global crown moulding market growth over the forecast period.

Crown Moulding Market: Restraints

Competition from alternative trims hamper the market growth

Alternative decorative trims and architectural elements like chair rails, wainscoting, and baseboards compete with crown moulding. The property owner's unique design objectives will determine the trim decision, and market rivalry from these alternatives may restrict options. Thus, this is expected to hamper the crown moulding market during the forecast period.

Crown Moulding Market: Opportunities

The emergence of advanced and sustainable materials offers a lucrative opportunity for market growth

The growing importance of sustainability presents an opportunity to create and promote environmentally appropriate crown moulding materials. Green construction criteria may be met and environmentally sensitive consumers can be drawn in by using sustainable materials and production techniques. Furthermore, firms may differentiate themselves from rivals by utilizing cutting-edge technologies like lightweight composite materials or 3D-printed crown moulding. Also, adding value may come from integrating technology into crown moulding through the use of smart lighting or wiring solutions. Thus, this is expected to offer a lucrative opportunity for crown moulding industry growth during the forecast period.

Crown Moulding Market: Challenges

Fluctuations in the price of raw materials pose a challenge to market growth

The price of the wood or polyurethane materials used to make crown moulding might fluctuate. Unexpected increases in the cost of materials might have an impact on production costs and perhaps lower profit margins. For instance, according to the IndexBox, in July 2023, the average export price of polyurethanes from India was $2,920 per ton, a drop of -2.2% from the previous month. Overall, there was a modest decline in the export price. June 2023 had the highest growth rate, with a month-over-month increase of 6.7%. August 2022 saw the export price high at $3,310 per ton; however, the export prices continued to decline from September 2022 to July 2023. Thus, the aforementioned stats are expected to pose a major challenge for the market expansion over the projected period.

Crown Moulding Market: Segmentation

The global Crown Moulding industry is segmented based on type, application, end-user, distribution channel, and region.

Based on the type, the global market is bifurcated into Polyurethane, Urethane, MDF, Wood, Polystyrene, PVC, Plaster and Aluminum. The polyurethane segment is expected to hold the largest market share over the forecast period owing to its favorable properties such as lightweight, durability, and smooth finish. Polyurethane crown moulding is lightweight, making it easier to handle and install compared to traditional wood crown moulding. Moreover, it is known for its durability and resistance to moisture, rot, and pests, which makes it suitable for both interior and exterior applications. There are many different style possibilities available when using polyurethane crown moulding, which may be moulded into complex and elaborate patterns. It can give more modern and distinctive patterns or mimic the appearance of conventional wood crown moulding. Thereby, driving the segment growth.

Based on the application, the global Crown Moulding industry is bifurcated into Ceiling, Door, Window, Wall, Fireplace, Cabinet, and General Purpose. The general purpose segment is expected to dominate the market over the forecast period. Within the building and interior design sectors, the crown moulding market fulfills a general function, with the main objective being to improve the visual appeal and architectural quality of residential and commercial spaces. Thus, driving the market growth.

Based on the end user, the market is bifurcated into Residential, Commercial, and Industrial. The commercial segment is expected to grow at the fastest rate over the forecast period. Hotel lobbies, guest rooms, and conference rooms frequently incorporate crown moulding to create an opulent and friendly ambiance. It can be employed to hide unsightly ceiling & wall transitions and can serve as a decorative feature to impress guests. Moreover, retailers use crown moulding to add a touch of elegance to their stores. It can help define different sections of the store and provide a more inviting shopping environment. Thereby, driving the segment growth.

Based on the distribution channel, the industry is bifurcated into Online and Offline.

Crown Moulding Market: Report Scope

Crown Moulding Market: Regional Analysis

Asia Pacific is expected to hold the largest market share over the forecast period

The Asia Pacific is expected to hold the largest crown moulding market share over the forecast period. The region's market is growing as a result of several factors, including urbanization, economic development, and shifting design preferences. The Asia Pacific area has seen tremendous urbanization and economic expansion in recent years in several of its nations. Consequently, the market for crown moulding benefits from an increase in demand for building and interior design. For instance, according to UN-HABITAT, one defining megatrend in the Asia-Pacific area is still urbanization. Over 2.2 billion people, or 54% of the world's metropolitan population, reside in Asia. Asia's urban population is predicted to increase by 50% by 2050, adding 1.2 billion more residents.

Moreover, the growth of commercial real estate, including office buildings, hotels, shopping malls, and entertainment venues, has created opportunities for crown moulding installation in lobbies, common areas, and other spaces. As of September 2022, industry analysts report that grade A offices in major Indian cities, such as Bengaluru and Mumbai, have an average cap rate of 8.25 in core locations. In comparison, the average cap rate for Taipei's grade A offices that year was 2.35. The greatest combined vacancy rate of 35.9% was seen in other Gurugram regions as of the second quarter of that year. In contrast, the lowest vacancy rate of all the Delhi NCR region's submarkets was found in Cybercity, Gurugram, India, at 5.4%. Thus, this is expected to drive the market growth in the region.

Crown Moulding Market: Competitive Analysis

The global Crown Moulding market is dominated by players like

• RowlCrown
• Metrie
• Canamould
• American Pro Décor
• RapidFit
• Ekena Millwork
• Alexandria
• Focal Point
• House of Fara
• Woodgrain Millwork
• NMC and Ornamental Moulding

The global Crown Moulding market is segmented as follows:

By Type

• Polyurethane
• Urethane
• MDF
• Wood
• Polystyrene
• PVC
• Plaster
• Aluminum

By Application

• Ceiling
• Door
• Window
• Wall
• Fireplace
• Cabinet
• General Purpose

By End User

• Residential
• Commercial
• Industrial

By Distribution Channel

• Online
• Offline

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa