Increasing demand for buildings, an increase in building renovation and improvement activities, and benefits of plastic doors and windows drive the growth of the global plastic door and window market.
WILMINGTON, Del., Oct. 23, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Plastic door and window Market by Type (Door and Window), Installation Type (New Construction, Replacement), and Application (Residential and Non-Residential): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global plastic door and window market generated $65.5 billion in 2022, and is anticipated to generate $113.3 billion by 2032, witnessing a CAGR of 5.5% from 2023 to 2032.
Prime determinants of growth
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Increasing demand for buildings, an increase in building renovation and improvement activities, and the benefits of plastic doors and windows drive the growth of the global plastic door and window market. However, the fluctuating cost of plastic which is a major raw material for plastic doors and windows restricts the market growth. Moreover, a growing demand for sustainable doors and windows across developed and developing economies presents new opportunities in the coming years.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $65.5 billion |
Market Size in 2032 | $113.3 billion |
CAGR | 5.5 % |
No. of Pages in Report | 230 |
Segments covered | Type, Installation Type, Application, and Region. |
Drivers | Increase in building renovation and improvement activities Increasing demand for buildings Benefits of Plastic Doors and Windows |
Opportunities | Growing demand for sustainable door and window |
Restraints | Fluctuations in the price of plastic |
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a negative impact on the global plastic door and window market, owing to the temporary closure of door and window manufacturing firms during the lockdown.
- Not only the production but also the sale of plastic doors and windows was hampered due to the closure of construction projects across the world, especially in the initial period of the pandemic.
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The door segment to maintain its leadership status throughout the forecast period
Based on type, the door segment held the highest market share in 2022, accounting for more than half of the global plastic door and window market revenue, and is estimated to maintain its leadership status throughout the forecast period. Doors are indistinguishable part of any building. Over the years, the trend of nuclear families has increased which has led to more rooms in a house, eventually leading to more doors. Thus, increasing number of households is driving the growth of this segment. In addition, average cost pf doors is higher than the windows which eventually increase the share of this segment. However, the window segment is projected to manifest the highest CAGR of 5.7% from 2023 to 2032. Windows segment is expected to grow rapidly due to increasing awareness regarding saving energy by installing well-insulating windows and doors.
The new construction segment to maintain its leadership status throughout the forecast period
Based on installation type, the new construction segment held the highest market share in 2022, accounting for more than two-thirds of the global plastic door and window market, and is estimated to maintain its leadership status throughout the forecast period. The rise in global population especially in developing regions is driving the growth of the new construction segment. However, the replacement segment is projected to manifest the highest CAGR of 5,6% from 2023 to 2032. With the increasing disposable income of people in general, the spending on home renovation and improvement is rising. This also includes replacement of old windows and door with more energy-efficient ones, which happens to be made of plastic.
The non-residential segment to maintain its lead position during the forecast period
Based on application, the residential segment accounted for the largest share in 2022, contributing to more than half of the global plastic door and window market revenue, and is projected to maintain its lead position during the forecast period. This segment holds higher share owing to the combination of factors such as the high cost of non-residential plastic doors and windows, and increasing demand for public buildings such as office buildings, airports, hospitals, schools, and others. However, the residential segment is expected to portray the largest CAGR of 6.0% from 2023 to 2032. AN increase in urbanization which drives the demand for homes and other residential buildings is expected to have a positive impact on market growth.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than half of the global plastic door and window market revenue, and is likely to dominate the market during the forecast period. The same region is also anticipated to grow with the highest CAGR throughout the forecast period. Asia-Pacific is a highly populated region which is also expected to depict a high population and urbanization growth rate in the future. This is expected to have appositive impact on market growth in Asia-Pacific especially.
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Leading Market Players: -
- YKK Corporation
- aluplast GmbH
- Aparna Enterprises Ltd.
- Cornerstone Building Brands, Inc. (Atrium Corporation)
- DCM Shreeram Limited
- Duroplast Extrusions Private Limited
- Hurst Plastics Limited
- JELD-WEN Holding, Inc.
- MI Windows and Doors, LLC
- Prominance Window Systems
The report provides a detailed analysis of these key players in the global plastic door and window market. These players have adopted different strategies such as new product launches, and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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