CLEVELAND, OH – A new report projects that plastic windows and doors will continue to increase market share at the expense of wood and metal.
According to Windows & Doors by the Freedonia Group, demand for plastic products will from by an average of 8.2 percent and reach $8.55 billion by 2018. Plastic products, already popular in the residential market, are anticipated to see growing use in light commercial and institutional applications. Efforts by manufacturers to improve the variety of colors and woodgrain textures available on plastic windows and doors or to expand into markets such as specialty windows and impact resistant products will also support increased demand for plastic products.
Meanwhile, demand for wood windows and doors is projected to increase by 6.2 percent per year to $10.10 billion in 2018, Metal, the leading material for windows and doors, is expected to grow by 6.7 percent annually to $13.25 billion in 2018.
Overall, Freedonia projects that demand for windows and doors nationwide will increase by 6.9 percent per year through 2018 to $31.9 billion. According to the report, a rebound in housing completions and building construction expenditures will push growth as demand recovers from the steep declines of the 2008-2013 period.
“Growing consumer preferences for higher end products such as triple glazed windows and insulated entry doors will also boost demand,” said Mariel Behnke, an analyst for The Freedonia Group.
The full 459-page Windows & Doors report is from Freedonia Group for $5,400.
Have something to say? Share your thoughts with us in the comments below.