The latest market report published by Credence Research, Inc. “Global Composite Doors and Windows Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The global composite doors and windows Market generated revenue of around USD 2154.6 million in 2022 and is anticipated to grow a CAGR of over 3.6% during the forecast period from 2023 to 2030 to reach around USD 2759.8 billion in 2030.
Global industrialization and construction will support industry growth. Due to the rising demand for fiber-reinforced plastic windows and doors in residential, commercial, and industrial applications, the global composite window and door market are expected to grow. Due to their corrosion resistance and light temperature tolerance, Wood Plastic Composites (WPC) and Fiberglass Reinforced Plastics (FRP) windows and doors are expected to drive industry expansion soon. Composite window and door production costs will limit industry growth. Comparably skilled, lower-priced competitors are expected to limit industry growth. High processing and manufacturing costs are expected to slow global composite window and door growth. Cities are home to 4.4 billion people or 56% of the world’s population. By 2050, around 7 out of 10 people will live in cities, a more than threefold increase from the current percentage. This rising need for housing will expand the market for composite doors and windows globally throughout the forecast period.
The global Composite Doors and Windows market is bifurcated into type, application, and geography. Based on type, the market is categorized into wood plastic composites (WPC), fiberglass reinforced plastics (FRP). Based on application, the global market is segmented into residential, commercial, corporate offices, malls, resorts and hotels, industrial, military bases, pharmaceutical factories, water and wastewater industries. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2022, North America dominated the global composite doors and windows market and accounted for a major market revenue share in terms of value. The United States and Canada, among others, are major contributors to North American growth. Recent increases in demand for building reconstruction have contributed to the growth of the North American continent. Recent government initiatives and the uptick in environmentally conscious building practices have made its growth possible. As a result of rising environmental consciousness, more consumers are opting for eco-friendly composite doors and windows.
Composite Doors and Windows Market major players analysis is essential to understand the competitive landscape of the market. The composite doors and windows industry has witnessed significant growth in recent years due to its durability, energy efficiency, and low maintenance requirements. Some of the leading players in this market include Andersen Corporation, Pella Corporation, JELD-WEN Holding Inc., Marvin Windows & Doors, Kolbe & Kolbe Millwork Co., Inc., Duraseal Windows & Doors Inc., VELFAC A/S, FiberTech Composite Pvt Ltd., Dortek Ltd., Hardy Smith Group. These companies have established themselves as key players by offering a range of high-quality products and services that cater to both residential and commercial customers.
Some of the key factors driving the growth of the market include the increasing demand for energy-efficient and high-performance building materials, the growing construction industry, and the rising consumer preference for composite doors and windows over traditional materials such as wood and metal.
- Composite doors and windows are made from a combination of materials such as wood, fiberglass, and PVC, which provide several advantages over traditional materials. They are highly durable, energy-efficient, and require low maintenance, making them an ideal choice for residential and commercial buildings.
- The increasing construction activities in emerging economies such as China, India, and Brazil are expected to drive the demand for composite doors and windows. The growing population and rising disposable income levels have led to a surge in demand for modern and high-quality construction materials, which is expected to boost the growth of the market.
- Moreover, stringent government regulations on energy efficiency and sustainability have further increased the demand for composite doors and windows. Many governments around the world have implemented building codes and standards that require the use of energy-efficient materials in construction projects, which is expected to further drive the growth of the market.
- In addition, the increasing consumer preference for composite doors and windows over traditional materials is expected to boost the growth of the market. Composite doors and windows offer several advantages over traditional materials, such as better insulation, noise reduction, and improved security, which are driving their popularity among consumers.
- Overall, the composite doors and windows market is expected to witness significant growth worldwide due to the increasing demand for energy-efficient and high-performance building materials, the growing construction industry, and the rising consumer preference for composite doors and windows.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global composite doors and windows market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global composite doors and windows market segmentation based on type and application.
- Major countries in each region with their import/export statistics
- The global composite doors and windows market report also includes analyzing the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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