NFBA recently commissioned the second annual Post-Frame Market Sizing Model Report from FMI Corporation to assess the U.S. post-frame market. FMI, a market research firm specializing in construction, identified key trends and drivers, evaluated historical and expected growth trends and estimated the current and projected volume of prime building components.
Key findings from the report:
• Post-frame construction is forecast to grow 8 percent annually through 2016.
• The two fastest-growing post-frame market segments in the next five years will be the residential-suburban and light-commercial markets.
• Misperceptions and lack of awareness continue to be the primary limiting factors for the growth of post frame.
These results are consistent with what the 2012 report forecasted, and they illustrate the opportunity that lies ahead for the post-frame industry. The report also indicates that the agricultural market – a stronghold for post frame historically – will be the slowest-growing sector, a finding that emphasizes the importance of the primary goal of the Post-Frame Market Initiative: to expand post frame into the light-commercial market. PFMI, through its emphasis on education and outreach, is poised to grab post frame’s share of an opportunity market that is forecasted to grow to more than $400 billion by 2017.
The 2013 Post-Frame Market Sizing Model Report is available to NFBA members that support the PFMI program. The report will also be the subject of an educational session at the 2014 Frame Building Expo.
Fund-Raising
NFBA leaders hit the ground running in 2013 with a national fund-raising campaign for PFMI. Meetings have been conducted with potential supporters in Illinois, Ohio, Oklahoma and Pennsylvania. PFMI’s past accomplishments, plans for 2014 and beyond and the growth opportunity for post frame over the next five years have been key topics of discussion at these meetings.
NFBA also had the opportunity to meet with the American Iron and Steel Institute in Washington, D.C., in July and August. These meetings were a great opportunity to highlight the significant volume of steel that goes into post-frame buildings and the impact that PFMI has in expanding the use of steel. AISI has funded a portion of PFMI’s 2013 program, and we are excited to continue our relationship with this organization
In fall 2013, NFBA leaders expect to meet with the Softwood Lumber Board to discuss funding for 2014. SLB has been a generous supporter of PFMI over the course of the program. We value our strong relationship with SLB and appreciate the generous support it provides to PFMI.
PFMI’s goal is to raise $550,000 for the 2014 program in order to expand outreach efforts into market segments that show the most promise for growth.
Planning for 2014
At NFBA’s board meeting in Glenview, Ill., in June, the PFMI Funding, Program Development and Metrics committees met to discuss current activities and future strategies. The primary goal for PFMI continues to be to increase post-frame construction in the light-commercial market through outreach to the design community, and the focus will remain in these key areas:
• Education – Broaden our existing reach to architects and designers, attract new leads through online, on-demand educational content and keep existing leads engaged by developing new course offerings.
• Marketing – Drive traffic to the postframeadvantage.com website, create leads for members through targeted advertising and e-mail outreach and expand post frame’s presence in social media.
• Research – Conduct research projects that will help post frame expand its presence in the light-commercial, institutional and residential markets, and promote the revised Post-Frame Building Design Manual (to be completed in 2013).
• Metrics — Measure the health and size of the industry and the impact of PFMI’s programs in order to identify opportunities for industry growth.
NFBA staff and the PFMI Program Development Committee will continue to refine the 2014 marketing plan. The support of NFBA members and other contributing organizations is greatly appreciated and will contribute to building the success of PFMI in years to come. FBN