Advancements by Market Players
Technological innovation by market players producing ecofriendly windows & doors is expected to propel the market growth. For instance, Tiltco, a Canada-based window & door producer, manufactures unplasticized PVC, which offers benefits during the manufacturing process such as less maintenance, lowest production energy requirements, minimal raw material requirements and least emissions. Milgard manufactures energy-efficient doors and windows designed to cater to thermal and solar requirements, thus fueling the market growth.
Surge in Residential & Nonresidential Construction
A notable rise in the residential and nonresidential sector construction activities has positively impacted the market, and is expected to further drive its growth. In developed economies, such as the U.S., the number of single-family housing unit starts was at 537 thousand in 2012 and increased to 715 thousand in 2015. In addition, research studies state that the number of new apartments built in China increased from 7.22 million in 2011 to 7.66 million in 2014. Nonresidential construction activities reported a notable rise in the recent years. As per the industry sources, global spending in this sector increased by 1.5%; however, Asia-Pacific is expected to witness higher growth rate owing to rise in spending in countries such as China and India, thus supplementing the market growth.
Increase in Spending on Home Remodeling
Rise in consumer spending on home remodeling in developed economies, such as the U.S., has driven the market growth in the recent years. As per a research, strengthening of the economy and recovering house prices have led to increased spending by owners on home remodeling projects. As per the statistics, exterior replacements (roofing, siding, windows, and exterior doors) accounted for 20% of total homeowner expenditures.
More details can be found at https://www.alliedmarketresearch.com/windows-and-doors-market
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