Through 2017, global demand for windows and doors is expected to rise 7.1 percent annually to $223 billion, significantly exceeding the growth rate of the 2007-2012 period.
Sales of new and refurbished pallets will expand 3.5 percent per year through 2017 to 1.3 billion units, valued at $16.9 billion, says a new study by The Freedonia Group Inc., a Cleveland-based industry market research firm.
Wood to see slowest growth of all fenestration products, though windows and doors overall will have double-digit growth. Competition from plastic windows and doors will have an impact.
Demand for windows and doors in the US is forecast to rise 9.3 percent per year to $34.2 billion in 2016. Growth will be spurred by a rebound in housing completions and gains in building construction spending from a depressed 2011 base.