CLEVELAND, Dec. 10, 2019 /PRNewswire/ — Demand for glass used in windows and doors is forecast to increase 4.3% per year from $3.6 billion in 2018 to $4.4 billion in 2023, according to the study Window & Door Components.
The primary factors driving demand increases include:
- above average advances in residential replacement window sales and homeowners’ tendency to trade up to higher quality products when selecting replacement fenestration
- ongoing efforts by home and commercial building owners to reduce energy costs by investing in higher value windows and doors with better insulative properties
- rising sales of insulated glass units and windows with low-e coatings for newly constructed commercial buildings in order to meet the standards of LEED and other environmental certification programs
- trends supporting demand for larger windows and patio doors – including multi-panel and multifold patio doors – that have expansive glazing areas
- growing demand for impact-resistant windows, which are much more expensive and feature significantly thicker glass panes than standard windows
- increasing awareness of the additional benefits of thicker glass panes, including security and sound dampening
- expanding interest in advanced glass tinting technologies, such as “smart glass” products that can be controlled via smartphones
Contact Corinne Gangloff for an interview with the analyst.
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SOURCE The Freedonia Group