CLEVELAND, OH - Global demand for windows and doors, currently $138 billion, is forecast to rise 6.8 percent annually through 2015 to $192 billion, according to a new study by the Freedonia Group.
Gains will be exaggerated in comparison to the weakened market forming the baseline in 2010 in the developed world, says Freedonia, particularly in the U.S. Residential building construction will outpace the nonresidential building construction globally. In most developed countries the residential market was far more adversely impacted by the recession in 2009 and 2010, Freedonia confirms.
China, the world’s largest national window and door market, will expand its share of global demand from 27 percent in 2010 to 30 percent in 2015. Continuing rapid economic growth, as well as an increase in the average size of a housing unit in China, will further bolster gains.
Although demand for windows and doors in China will expand at a robust 9.2 percent per year, the U.S. market for windows and doors will post a strong recovery and expand 7.7 percent per year through 2015, after declining by around 25 percent between 2008 and 2010
Plastic is projected to be the fastest growing material for window and door products through 2015. Gains for plastic windows and doors will be supported by continuing demand for vinyl windows because of their low cost, durability, minimal maintenance requirements and superior energy efficiency. Plastic windows will account for 37 percent of global window demand in 2015.
Traditionally, wood doors were seen to be more attractive than fiberglass doors; however, improvements in processing techniques have enabled manufacturers to make fiberglass that more closely resembles wood.
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