Exceptional properties of the composite materials such as corrosion, temperature, and chemical resistance, termite free, dustproof, and sound insulation, is the prime factor creating unprecedented demand in the composite doors market. Composite doors such as uPVC doors, double glazed doors, and PVCu doors are lightweight, maintenance-free, and are highly durable. Therefore, the need to replace wood and metal doors with superior quality, energy-efficient and aesthetically good looking doors without compromising on safety and performance, in the residential as well as industrial applications is driving the growth of the composite doors market. Moreover, on the back of demographic growth, the 55% of the world population currently resides in urban areas and it is expected to reach 68% by 2050, which means additional 2.5 billion people moving to urban areas. With the rising urbanization and rapidly expanding population, the construction activities in residential as well as commercial infrastructure are anticipated to grow at an alluring rate, which in turn is expected to fuel the composite doors and composite windows market demand. For instance, the Indian construction sector is projected to prosper at a CAGR of 15.7% to attain $738.5 billion by 2022.
As of 2018, the composite doors market was valued at $876 million. Moreover, the demand for composite doors and composite windows is projected to propel at a CAGR of 6.1% during the forecast period 2019-2025.
North America Domineering Composite Doors & Windows Market—
On the basis of the region, North America held the majority share in the global composite doors and composite windows market with a maximum revenue share of 33.3% in 2018. The dominance of the region is largely attributed to the growth in the residential and industrial construction and renovation activities in the developed countries such as the USA and Canada. For instance, the private housing completions in the USA reached 1,294,000 in August 2019, an increase of 5.0% from August 2018. Moreover, the presence of prominent market players such as Special-lite Inc., Curries Assa Abloy Group, Andersen Corporation, and Pella Corporation has positively influenced the growth of the composite doors market in North America.
Industrial Sector Surfaces as the Key Application Segment in the Composite Doors & Windows Market—
The industrial segment is considered to be the key application segment in the composite doors market that is anticipated to progress at the highest growth rate during the forecast period. The dominance of the segment is mainly due to the increasing demand for maintenance-free, corrosion resistant, and high chemical resistant doors in various industries. Moreover, the composite doors and composite windows are gaining significant popularity as they act as durable insulators and have the ability to maintain temperature inside the premises and provide dimensional stability. Therefore, the key application segment is presumed to proliferate at a CAGR of 5.8% through to 2025.
Composite Doors & Windows Market Companies’ Strategies—
Major companies in the composite doors and windows market are Dortek Ltd., Special-lite Inc., Curries ASSA ABLOY Group, Vello Nordic AS, Andersen Corporation, Pella Corporation, Wood Plastic Composites, Hardy Smith Group, and ECOSTE Wood Polymer Composite. These companies are continuously involved in adopting business strategies such as acquisitions, collaborations, mergers, partnerships, and expansions to stay ahead of their competitors and thereby to fortify their presence in the global market. Moreover, they are investing heavily in R&D activities to develop and introduce new and innovative composite materials to meet the customer preferences and demands.