Global Composite Door and Window Market is set to expand at 7.4% CAGR by 2034 | Future Market Insights, Inc.
The United Kingdom stands as a prominent market for composite doors and windows, driven by a robust construction sector and a heightened focus on sustainability. As the nation pursues ambitious goals to curtail carbon emissions and foster energy-efficient structures, there's a surging demand for composite materials renowned for their insulation capabilities and eco-friendly characteristics. This trend underscores a pivotal shift towards greener building practices, propelling the adoption of innovative solutions in the construction landscape.
NEWARK, Del, April 04, 2024 (GLOBE NEWSWIRE) -- The composite door and window market is anticipated to be valued at *US$ 835.9 million* by 2024. The market valuation is estimated to be *US$ 1.7 billion* by 2034, projected at a CAGR of *7.4%.*The increasing demand for energy-efficient building materials is one of the primary drivers. Composite doors and windows offer superior thermal insulation properties, helping to reduce heat loss and energy consumption in residential and commercial buildings.
As energy efficiency regulations become more stringent worldwide, a growing preference for composite materials can contribute to sustainable construction practices and lower utility costs for building owners.
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Composite materials provide excellent durability and resist weathering, corrosion, and rotting, making them ideal for exterior applications such as doors and windows. Homeowners and architects appreciate the low maintenance requirements of composite doors and windows, which typically require minimal upkeep compared to traditional materials.
Advancements in manufacturing technologies have enabled the production of composite doors and windows with improved strength, structural integrity, and design flexibility. Companies invest in research and development to develop innovative composite formulations and production processes that optimize performance while reducing costs and environmental impact.
The composite door and window market is also driven by urbanization, population growth, and new residential and commercial building construction. As urban areas expand and modernize, there is a growing demand for high-quality building materials that offer longevity, security, and aesthetic appeal.
*Key Takeaways from the Market Study*
· Under type, the polyester segment is registered to expand at 7% CAGR by 2034.
· The United Kingdom is estimated to register at a CAGR of 8% by 2034.
· China experiences significant growth, projected at a CAGR of 8.2% by 2034.
· Based on the product, the fibre-reinforced plastics segment is anticipated to expand at 7.2% CAGR by 2034.
*“The increasing focus on energy efficiency and sustainability in the construction industry is one significant driver of the composite door and window market**,**”* comments Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
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*Regional Analysis*
*Attributes* *Forecast CAGRs from 2024 to 2034*
*The United States* 7.5%
*China* 8.2%
*Japan* 8.6%
*South Korea* 9.4%
*The United Kingdom* 8%
*Competitive Landscape*
The competitive landscape of the composite door and window market is characterized by a mix of global manufacturers and regional players. These companies compete based on product quality, design innovation, pricing strategies, and geographical presence, leveraging strategic partnerships and mergers to gain market share and meet evolving consumer preferences.
Some of the key developments are
· In February 2019, NCL VEKA, a joint venture between NCL Group and German UPVC profile producer VEKA AG, inaugurated the country's largest UPVC profile extrusion plant in Hyderabad. This significant investment underscores their commitment to meeting the growing demand for UPVC profiles in India's construction sector.
· In January 2019, REHAU announced plans to establish 56 retail centers across India by 2020. This expansion initiative aimed to strengthen REHAU's presence in the Indian market and cater to the increasing demand for premium UPVC products among residential and commercial customers.
*Key Companies Profiled*
· Andersen Corporation
· Chem-Pruf
· Fiberline Building Profiles
· Pella Corporation
· Hardy Smith Designs Private Limited
· FiberTech Composite Pvt. Ltd.
· Nationwide Windows
· Vello Nordic AS
· Special-Lite
· Just Doors UK Ltd
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*More Valuable Insights Available*
Future Market Insights offers an unbiased global composite door and window market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand market opportunities, the composite door and window market is segmented based on product (fibre-reinforced plastics, wood-plastic composites), type (polyester, PVC, and wood), application (industrial, commercial, and residential), and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).
*Composite Door and Window Market - Key Segments*
*By Product:*
· Fibre-reinforced plastics
· Wood-plastic composites
*By Type:*
· Polyester
· PVC
· Wood*By Application:*
· Industrial
· Commercial
· Residential*By Region:*
· North America
· Latin America
· Western Europe
· Eastern Europe
· South Asia and Pacific
· East Asia
· Middle East and Africa*About the Chemicals and Materials Division at Future Market Insights*
The chemicals and materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
*Authored By*
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
*Have a Look at Related Research Reports on Chemicals & Materials*
The composite tooling market size reached US$ 493 million in 2022. Demand for composite tooling is likely to witness US$ 525 million in 2023. In the forecast period between 2023 and 2033, demand is poised to exhibit a 4.9% CAGR.
Over the forecast period, soft magnetic composite demand is anticipated to rise at a 9.3% CAGR. Total market value is predicted to increase from US$ 44,459.0 million in 2023 to US$ 1,08,392.0 million by 2033.
The glass fiber reinforced plastic (GFRP) composites market is predicted to capture a valuation of US$ 18.54 billion in 2023, and is rising to US$ 41.53 billion by 2033. The market is estimated at a CAGR of 8.4% during the forecast period.
Demand for fiberglass is predicted to rise at a CAGR of 4.3% over the forecast period (2022-2028) and reach a valuation of US$ 13.1 Billion by 2028, up from the current market size of US$ 10.2 Billion.
The industrial pipe insulation materials market to grow with a year-on-year growth of *4.6%* in 2022 reaching a value of about *US$ 1,438.8 Million* by 2022 end. The market is anticipated to witness a considerable CAGR of *4.1%* between 2022 and 2028.
The global non-woven glass fibre prepreg market is relishing a market valuation of US$ 901.7 Million in 2022 and is all set to expand with a CAGR of 6.90% during the 2022 to 2032 period.
The global wind turbine composite materials market is expected to be valued at US$ 12 Billion in 2022 and secure US$ 25.4 Billion by 2032. The projected market growth is 7.14% during the forecast period from 2022 to 2032.
The global wood plastic composites market is set to flourish at a promising CAGR of 11.3% between 2022 and 2032.
Asia-Pacific bio composites market is estimated to be valued at US$ 8,603.5 Million in 2022 and is projected to increase at a CAGR of 13.4% in the forecast period.
The high performance composites are predicted to rise at a promising CAGR of 10.3% from 2024 to 2034. The global market is anticipated to reach US$ 36.8 billion by 2034.
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