Global Industry Analysts Report Says Vinyl Windows Market to Reach 163 Million Units by 2017April 19th, 2012 by DWM Magazine
Global Industry Analysts (GIA) has released a new global report on the vinyl doors and windows market, which it says is forecast to reach volume sales of 163 million units by 2017. The report says this growth would be chiefly bolstered by economic revival, increasing disposable income, sustained industrialization efforts in developing countries and increasing momentum in the replacement of traditional fenestration products by vinyl products.
According to the report, in terms of material types, although metal and wooden doors and windows dominate the market in terms of market size, highest growth is expected to stem from plastics comprising of vinyl, fiberglass, and composites. Vinyl is making significant inroads worldwide by cannibalizing into the shares of traditional metal and wood fenestration products, reports GIA, adding that nearly 62 percent of the world vinyl production is consumed by the construction industry.
According to GIA, the vinyl door and window industry has increasingly shifted focus on vinyl swing doors and sliding doors, and vinyl doors stand poised for lucrative gains due to their benefits such as energy efficiency and low maintenance costs.
According to the report, going forward, growth in the vinyl doors and windows market would be largely boosted by economic growth, increasing levels of personal income in many parts of the world, the enduring industrialization efforts of the developing countries and increasing momentum in the replacement of traditional fenestration products by vinyl.
The report notes that the growing popularity of vinyl over traditional material types is evidenced by the changing end-user preferences the world over. It says China, for example, is a key potential driver for vinyl door demand. Although steel/aluminum frames garner nearly 70 percent of the Chinese doors and windows market, vinyl is gaining share at the expense of traditional materials. According to the report, while mature markets take a pause, emerging markets such as China, India, Russia, Indonesia, the Philippines and Malaysia will drive the demand for doors and windows in the world market.
Europe also retains its leadership position in the global vinyl market, according to the report, both in terms of product development and usage. Within Europe there exists wide disparity in PVC penetration, with countries such as the U.K. exhibiting high penetration rates of about 80 – 85 percent, while in the Scandinavian countries PVC penetration is the lowest, with some markets having usage levels as low as 25 percent.