Window and Door Demand to Top $31 Billion by 2014
Demand for windows and doors in the U.S. will rise 6.6 percent per year to $31.2 billion in 2014, according to a new study from the Freedonia Group Inc. The increase represents a rebound from the 2004-2009 period, when demand fell 4.3 percent annually, as a result of the collapse of the housing market between 2007 and 2009.
The Cleveland-based market research firm notes that although housing completions will remain below the level reached at their cyclical peak in 2006, the recovery in new home construction will fuel above-average gains in the residential market for windows and doors through 2014. Among material types, plastic windows and doors will see the most rapid growth through the next few years, advancing more than 10 percent per year to $7.4 billion in 2014.
The study also sees gains coming from rising demand for fiberglass entry doors, which will take market share from wood and steel entry doors. Fiberglass doors are less costly, more aesthetically pleasing and more energy efficient than steel doors. While traditionally wood doors were seen as more attractive than those made from fiberglass, improvements in processing techniques have enabled manufacturers to make fiberglass that more closely resembles wood, the researchers note. Further gains for plastic windows and doors will be supported by continuing demand for vinyl windows because of their low cost, durability, minimal maintenance requirements and superior energy efficiency.
The Freedonia study covers both residential and nonresidential markets, observing that metal windows and doors accounted for the largest share of window and door demand in 2009 (see table below). Metal overtook wood because wood products saw their share of the market decline due to the steep drop in spending on residential building construction, where wood windows and doors are most commonly used.
Looking ahead, metal windows and doors are expected to continue to lead the market in 2014. Rebounding housing activity will drive some of those gains. Freedonia points to population growth in the South and West, where metal products are most often installed, which will spur advances. Homeowners concerned with preventing storm damage, such as those in coastal regions, will continue to install metal windows and doors. Demand will also be supported by the nonresidential market, where metal products are preferred due to their low cost and durability.
Demand for wood windows and doors is forecast to rise 7.2 percent per year to $10.9 billion in 2014. The rebound in residential building construction activity will drive gains, especially in the high-end housing market. Wood windows and doors are seen as aesthetically pleasing products that add value to a home. However, strong plastic window and door demand, which is taking share from wood, will prevent wood products from supplanting metal products as the market leader.
The 456-page report, entitled Windows & Doors, is available from Freedonia for $5,100. More information is available by calling 440/684-9600 or visiting www.freedoniagroup.com.