Global demand for doors and windows is projected to grow 4.5 percent per year by 2021, rising from $172 billion to $214 billion during that time, according to a new study from The Freedonia Group, a Cleveland-based industry research firm.

The U.S. and China will account for 65 percent of the global sales growth during this period, according to the report. Demand will be supported by increased spending on new office and commercial buildings in China, and the ongoing strength of new home construction in the U.S.  Globally, gains will be driven by accelerated construction of new housing, increased industrialization and urbanization in developing regions, improving income levels, increased spending on premium windows and doors, and more stringent building codes that promote the use of energy-efficient products.

New residential construction accounted for the largest share of door and window demand in 2016. It will continue to do so, the study says, reaching 35 percent of the market in 2021. The Africa/Mideast region will see the fastest growth for this market, thanks to rising income levels and increased rural-to-urban migration that will support the purchase of new, modern housing units.

In terms of window products, vinyl will represent the largest share of overall sales growth by 2021. The cost and performance advantages of PVC products, especially in developing regions where market penetration has not advanced as far as in higher-income areas, will spur this growth, according to Freedonia’s researchers. Improvements to the aesthetics of vinyl products will boost sales as well, as suppliers introduce more colors and textures that more closely resemble wood.

Despite vinyl’s growth, metal will retain its position as the leading material type, bolstered by its widespread use in nonresidential buildings where durability and security are chief concerns. Sales of interior doors for new homes and businesses will buoy market gains in the wood segment. The continuing preference for wood in higher-end residential applications will also underpin growth.

Freedonia predicts that the leading global door suppliers will maintain their top positions by offering broad product ranges, investing in product development and maintaining extensive manufacturing and sales operations in different geographic areas. The highly fragmented window and door industry has also seen significant acquisition and divestiture activity in recent years, with firms such as ASSA ABLOY, JELD-WEN, Masonite International and Pella expanding their presence in key markets by acquiring complementary businesses.

For more information or to order the report, follow this link.

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