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Composite Doors & Windows Market Size is Estimated to Reach Us$1.5 Billion by 2027, Growing at a CAGR of 7.5% During the Forecast Period 2022-2027
HYDERABAD, TELANGANA, INDIA , September 26, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that the Composite Doors & Windows Market size is estimated to reach US$1.5 billion by 2027, growing at a CAGR of 7.5% during the forecast period 2022-2027. A composite is a combination of two or more constituent materials. Exceptional properties of the composite materials such as corrosion, temperature and chemical resistance, termite-free, dustproof and sound insulation are the prime factors creating unprecedented demand in the composite doors & windows market. A composite material is lightweight as compared to monolithic materials, such as metals, with better performance. The major resin type used in the composite doors & window market is polyester and polyvinyl chloride. Fiber-reinforced plastics and wood plastics composites are used in this market. According to IBEF, the real estate market in India was $180 billion in 2020 and is expected to reach $1 trillion by 2030. According to the Home Innovation article, the penetration of composite window frames increased from 5% in 2015 to 10% in 2021. Thus, the rise of the composite doors & windows industry is propelling the market growth. Many industries across the globe have faced several challenges due to the COVID-19 pandemic. According to Eurocontruct, the European construction market was down by 4.7% in 2020 and European GDP was down by 6.4% in 2020. With the pause in buildings and infrastructure projects and distribution, the demand and consumption of the Composite Doors & Windows industry have been hampered to an extent.
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https://www.industryarc.com/Research/Composite-Doors-Windows-Market-Research-500289
Key Takeaways:
This IndustryARC report on the Composite Doors & Windows Market highlights the following areas –
1. The notable use of composites in windows is expected to provide a significant growth opportunity to increase the Composite Doors & Windows market size in coming years. WDMA, residential windows in the United States, reached 50 million units in 2021, up by 46 million units from 2020.
2. There is Increasing demand for fiberglass-reinforced plastics in a range of applications, such as hospitals, institutions, commercial complexes, research centers and corporate buildings as it is high temperature tolerant and maintenance-free.
3. Increase in demand for polyester-based composites in the residential and commercial applications provide substantial growth opportunities for the industry players in near future in the Composite Doors & Windows industry.
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Segmental Analysis:
1. The fiberglass-reinforced plastics segment held the largest share in the Composite Doors & Windows Market in 2021, followed by wood plastic composite. It is estimated to grow at a CAGR of 8.5% during the forecast period 2022-2027.
2. The residential segment is expected to grow at the fastest CAGR of 7.2% during the forecast period in the Composite Doors & Windows Market.
3. Asia-Pacific held the largest share in the Composite Doors & Windows market of up to 34.7% in 2021. Rising urbanization, high economic expansion in China and India and an increase in disposable income in this region have further boosted the construction growth in this region.
Competitive Landscape:
The top 5 players in the Composite Doors & Windows industry are –
1. Dortex
2. Pella Corporation
3. Fiber Tech Composite Pvt. Ltd.
4. Jeld-Wen
5. Curries, Assa Abloy Group
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