The Freedonia Group announced its study, “Window & Door Components,” states 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. To view the study, visit www.freedoniagroup.com/industry-study/window-door-components-3777.htm.
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 insulating 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.