According to a new market report published by Lucintel, the future of the global door and window market looks good with opportunities in the residential and commercial construction industries. The global door and window market is expected to reach an estimated $243.6 billion by 2022 and it is forecast to grow at a CAGR of 4.1% from 2017 to 2022. The major drivers of growth are rapidly increasing new construction and renovation activities in developing economies.
In this market, metal, wood, plastic, and other materials are used in the manufacturing of door and window. On the basis of its comprehensive research, Lucintel forecasts that the plastic door and window segment is expected to show the highest growth during the forecast period due to its light weight and better energy efficient properties.
Within the global door and window market, metal is expected to remain the largest segment mainly due to strong demand for aluminum doors and windows. The aesthetic appeal of aluminum doors and windows, low maintenance, and low cost option as compared to other materials are projected to drive the demand for the metal door and window market. These major factors will spur growth for this segment over the forecast period.
By end use industry, residential is expected to remain the largest segment; it is also expected the highest growth over the forecast period. Increasing housing starts and renovation activities are projected to increase the demand for the door and window market.