Healthy Construction Markets in Multiple Countries will Help Increase Worldwide Demand for Windows and Doors
Global demand for windows and doors is projected to rise 5.9% annually through 2019 to $233 billion, according to World Windows & Doors, a recent study from the Freedonia Group, Inc. Slowing growth in building construction spending in the Asia-Pacific region (the largest regional market for these products) will restrain demand gains. Window and door demand will accelerate in higher income areas such as the U.S. and many countries in Western Europe because of rebounds in housing construction. Through 2019, the fastest demand gains are expected in plastic windows.
Even with its deceleration, window and door demand in the Asia-Pacific region is forecast to expand 6.8% per year through 2019, a faster pace than that in any other region. “Rising personal income levels in the developing countries of the region will allow consumers to purchase more modern windows and doors,” said Allison Blackburn, analyst. China was the largest national market for fenestration products in the world in 2014 and will see its share of global demand rise from 36% in 2014 to 39% in 2019. China is expected to post fenestration product demand gains of 7.6% per year through 2019, a deceleration from the double-digit annual gains of the 2009-2014 period but still among the fastest in the world.
North America will enjoy the second-fastest demand growth of any region through 2019, boosted by gains in the U.S. and Mexico. The large U.S. market for windows and doors is expected to advance 7.3% per year through 2019 as housing construction in the country continues to rebound from the sharp contraction it suffered between 2006 and 2011.
The Africa-Mideast region is also expected to post rapid window and door demand gains through 2019. Growth will be above the global average due to strong increases in building construction spending as well as rising personal income levels that will allow adoption of more advanced building practices, encouraging the use of modern fenestration products. Western Europe, which posted gains of less than 1% annually between 2009 and 2014, and Japan are also projected to see an acceleration in demand through 2019, though growth will still remain below the global average.
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