Global demand for windows and doors is projected to rise 5.9% annually through to 2019, reaching a value US$233 billion, according to Freedonia. It is reported that 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 is expected to accelerate in higher income areas such as the US and many countries in Western Europe because of rebounds in housing construction.
For the demand in the Asia/Pacific region, it is forecast to expand at a faster pace than that in any other region (by 6.8% per annul through to 2019), due to rising personal income levels ¡®allowing consumers to purchase more modern windows and doors¡¯.
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.
North America is predicted to enjoy the second fastest demand growth of any region through to 2019, boosted by gains in the US and Mexico.
The Africa/Middle East region is also expected to post rapid window and door demand gains. 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 to 2019, though growth will still remain below the global average.