The demand for door and window glass will reach an average annual growth rate of 4.3% by 2024
According to research by Window&Door Components, the market value of glass products used in doors and windows was US$3.6 billion in 2019 and is expected to grow to US$4.4 billion by 2024, with an average annual growth rate of 4.3%.
The main factors driving demand growth are:
- When choosing to replace windows and doors, residential replacement windows are all above average, with homeowners gravitating towards higher quality products;
- Home and commercial building owners are working hard to reduce energy costs by investing in higher-value windows and doors with better performance;
- The increasing use of insulating glass and energy-efficient windows in new commercial buildings, in order to meet the standards of LEED standards and other environmental certification programs;
- Rising demand for very large size windows and patio doors, including multi-panel and multi-fold patio doors, which has a broader demand for glazing;
- Growing demand for impact-resistant windows that are more expensive than standard windows and feature thicker glazing than standard windows;
- Increased awareness of the benefits of thicker glass panels, including safety and sound insulation;
- Growing interest in advanced glass color-changing technologies, such as "smart glass" products, which can be controlled from a smartphone.