Research Nester published a report titled “Composite Doors and Windows Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global composite doors and windows market in terms of market segmentation by type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global composite doors and windows market is anticipated to grow with a CAGR of 3.6% over the forecast period, i.e., 2022-2031. The market is segmented by type into doors and windows. Amongst these segments, the windows segment is anticipated to garner the largest revenue by the end of 2031.
The global composite doors and windows market is estimated to garner a revenue of USD 2,325.33 Million by the end of 2031, up from a revenue of USD 1,640.59 Million in the year 2021. Increasing spending on construction activities, increasing urbanization in emerging economies, and increase in income level of the population are some of the major factors estimated to drive the growth of the market.
Geographically, the global composite doors and windows market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Out of these regions, the market in North America region is expected to garner the largest revenue of USD 1,021.29 Million by the end of 2031. Additionally, in the year 2021, the region garnered revenue of USD 742.04 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Spending on Construction Activities to Boost Market Growth
Building construction spending is anticipated to increase by slightly more than 9% in 2022 and by another 6% in 2023, according to the mid-year update of the American Institute of Architects' AIA Consensus Construction Forecast.
There will likely be more building projects completed with various advanced features, including composite doors and windows, as a result of increased spending on construction operations. Thus, it is anticipated that this aspect would boost market expansion.
However, need for expertise in order to fit composite doors, time consuming manufacturing process, and high price of composite doors and windows which are expected to operate as key restraint to the growth of global composite doors and windows market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global composite doors and windows market which includes company profiling of Andersen Corporation, Chem-Pruf, Fiberline Building Profiles, Pella Corporation, Hardy Smith Designs Private Limited, FiberTech Composite Pvt. Ltd., Nationwide Windows, Vello Nordic AS, Special-Lite, and Just Doors UK Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global composite doors and windows market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.