Date: 6 February 2017
According to Global Market Insights, Inc., “Window and Door industry size worth USD 82 billion in 2015, is projected to reach USD 137 billion by 2024, recording a CAGR of 5.6% over 2016-2024.”
High demand for repairing activities and raw materials across residential as well as commercial sectors is expected to boost the industry trends over the next few years.
Growing use of eco-friendly and fully recyclable products such as uPVC in new residential buildings is further expected to drive the market growth in near future.
Window and door find wide application in residential and commercial sectors. Window and door market share in commercial sector worth USD 30 billion in 2015, is projected to grow at a rate of 6.5% over 2016-2024.
Its application in residential sector worth USD 45 billion in 2015, is expected to witness a substantial growth over the coming years. The growth can be credited to rising awareness about energy conservation along with the fulfillment of strict government compliance regarding environmental protection and eco-friendly measures.
China window and door market size, by application, 2012-2024 (USD Billion)
Major window and door materials include uPVC, metal, and wood. uPVC window and door market price worth USD 27.5 billion in 2015, and is expected to reach USD 47 billion by 2024 as uPVC is the most preferred material owing to its lightweight, low maintenance costs, and recyclability.
It also offers a high level of insulation against outside sounds as well as thermal insulation. Metal window and door market size is expected to record a CAGR of 5% over 2016-2024.
For instance, aluminum provides coated frame, which can be painted with the color that matches the consumer choice. Wood window and door market share, which accounted for 28% of the global revenue in 2015, is anticipated to register highest gains of 5.7% over 2016-2024.
High heat resistance, aesthetic appeal, and easy timber availability are predicted to contribute towards the product demand over the next few years.
Asia Pacific window and door market is expected to witness a substantial growth over the coming eight years. India, Thailand, Indonesia, and China are anticipated to contribute considerably towards the regional growth.
Europe window and door market is anticipated to witness a high growth over 2016-2024 owing to strict government regulations promoting the application of energy efficient solutions and acoustic insulations which help in reducing carbon emissions.
Furthermore, CEN has enacted new safety rules which include features such as air permeability and acoustic insulation. UK is predicted to drive the regional growth over the coming years and is expected to grow at a rate of 4.5% over 2016-2024.
North America window and door market is anticipated to witness a high growth over the coming eight years owing to high demand for repairing and improvement activities across commercial and residential sectors. U.S. market share worth USD 13.5 billion in 2015, is expected to record a CAGR of 6% over 2016-2024.
Market players will try to enhance their global presence as well as product portfolio through mergers & acquisitions, product innovation, and market penetration.
Key industry players include Andersen Corporation, Eurocell Company, Pella Corporation, Reynaers Aluminum Company, Atrium, YKK Corporation, Masco Manufacturing Company, Schuco Company, Sapa Building Systems, and Corialis.
Written By : Dhananjay Punekar