The global composite doors and windows market is estimated to garner a revenue of USD 2,325.33 Million by the end of 2031 by growing at a CAGR of 3.6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 1,640.59 Million in the year 2021. The growth of the market can be attributed to growing construction activities. According to an estimate till 2050, the global construction sector needs to construct an approximate 12,000 structures every day to accommodate the estimated 6 billion people who will live in cities (about 9 billion worldwide).
The global composite doors and windows market is estimated to garner a revenue of USD 2,325.33 Million by the end of 2031 by growing at a CAGR of 3.6% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of USD 1,640.59 Million in the year 2021. The growth of the market can be attributed to growing construction activities. According to an estimate till 2050, the global construction sector needs to construct an approximate 12,000 structures every day to accommodate the estimated 6 billion people who will live in cities (about 9 billion worldwide).
Growth Drivers
Increasing Spending on Construction Activities - According to the mid-year update of the American Institute of Architects' AIA Consensus Construction Forecast, construction spending on buildings is expected to rise by slightly over 9% in 2022 and by another 6% in 2023. Owing to the increase in spending on construction activities more construction projects are expected to be carried out with various advance facilities, among which one is composite doors and windows. Hence this factor is expected to boost the market growth.
Increasing Urbanization in Emerging Economies - Around 4.4 billion people, or 56% of the world's population, live in cities. By 2050, it's predicted that nearly 7 out of 10 people would live in cities, more than tripling from the current level.
Increase in Income Level of the Population - It was predicted that, compared to 90 million homes in 2019, 130 million families would have an annual income of between US$3,000 and US$9,000 by 2022.
Increasing Use of Composite Doors and Windows in Various End-Use Industries - Dortex launched Hygienic GRP Laboratory Doors which would also sustain in harshest environment such as include rot or rust.
Introduction of New Goods by Various Key Players - REHAU announced the launch of the new system 190 Hung-slider with an integrated RAUSHIELD storm protection system in the United States. With this invention, the tried-and-true high-performance UPVC side-load window series gains an economical alternative for meeting hurricane impact standards in residential and light commercial structures.
Challenges
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Base Year |
2021 |
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Forecast Year |
2022-2031 |
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CAGR |
3.6% |
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Base Year Market Size (2021) |
USD 1,640.59 million |
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Forecast Year Market Size (2031) |
USD 2,325.33 million |
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Regional Scope |
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The global composite doors and windows market is segmented and analysed for demand and supply by type into doors and windows. Out of which, the windows segment is anticipated to garner the largest revenue by the end of 2031, backed by its ability to be more durable. Composite windows require low maintenance as compared to uPVC windows. According to some estimations, composite windows could be 23-35% less expensive than uPVC windows over a 60-year period. Hence owing to which the demand for composite window is expected to increase in future. Moreover, the doors segment is anticipated to grow at a highest CAGR of 4.0% over the forecast period.
Our in-depth analysis of the global composite doors and windows market includes the following segments:
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By Type |
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Regionally, the global composite doors and windows market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these regions, the market in North America region is projected to hold the largest market share of USD 1,021.29 Million by the end of 2031, up from a revenue of USD 742.04 Million in the year 2021. The growth of the market in this region can be attributed to the growing population in North America. North America's current population in 2022 is 376,870,696, a 0.42% growth from 2021. The increasing population has lead a rise in demand for development activities such has construction and renovation in residential and commercial area. Moreover, the features of composite doors and windows which includes water and wind resistance, durability, and more are expected to boost the market further. However, the Asia Pacific region is estimated to grow at a highest CAGR of 4.0% over the forecast period.
The Andersen Corporation and Ubiquitous Energy have announced plans to create the first energy-generating windows and doors without sacrificing aesthetics.
The premium window and door producer and designer Pella Corporation purchased Custom Window Systems (CWS), an Ocala, Florida-based manufacturer of impact-resistant products made of vinyl and aluminium. With the acquisition, Pella is now able to grow strategically and gain market share in the Southeast coastal regions and high-growth Florida area. While Pella's portfolio will be boosted by integrating CWS' impact-resistant knowledge into Pella distribution channels, CWS would profit from Pella's expertise in fostering operational improvements and innovation.
Author Credits: Shweta Patidar
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