Surge in residential & non-residential construction activities, growing demand for energy-efficient and eco-friendly doors, rise in home improvement & remodeling expenditures, and increase in demand for recyclable raw materials are expected to boost the growth of the global interior doors market
Allied Market Research recently published a report, titled, ‘Interior Doors Market by Door Type (Panel Door, Bypass Door, Bifold Door, Pocket Door, and Others), Material (Wood, Metal, Glass, Fiberboard, Fiberglass, Vinyl, and Others), Mechanism (Swinging, Sliding, Folding, Revolving, and Others), , and End User (Residential and Non-residential): Global Opportunity Analysis and Industry Forecast, 2018–2025‘. The study includes the analyses of the current market trends and growth prospects in the global interior doors market along with the market drivers, restraints, challenges, & opportunities; competitive landscape; top investment strategies; and growth strategies. According to the report, the global interior doors market was pegged at $52.61 billion in 2017 and is expected to reach $85.41 billion by 2025, registering a CAGR of 6.3% from 2018 to 2025.
Increased pace of residential & non-residential construction activities coupled with growing requirement for energy-efficient and eco-friendly doors drives the growth of the market. Moreover, rise in home improvement & remodeling expenditures, increase in demand for recyclable raw materials, and proactive government support to adopt polyvinyl chloride (uPVC) due to improved its high energy efficiency attribute supplement the market growth. However high cost of eco-friendly products restrain the growth of the industry. Conversely, rapid urbanization & industrialization and rise in disposable income in emerging markets are expected to offer lucrative opportunities for the market players in near future.
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Panel doors segment to maintain its largest share through 2025
Among door types, the panel doors segment held the largest market share of 65% in 2017, owing to the significant demand for panel doors among home owners and builders on account of their weatherproof attribute and low maintenance cost. However, the bypass doors segment is expected to portray the fastest CAGR of 7.3% during the forecast period. The report also discusses bifold doors, pocket doors, among others.
Fiberboard segment to lead in terms of growth by 2025
Among product types, the wood segment accounted for more than half of the market share in 2017 and would remain dominant through the forecast period. Wood is advantageous as it is biodegradable, renewable, and carries the least carbon footprint. It is the material of choice for end users, owing to its thermal insulation property, high strength, workability, and strong aesthetics. However, the fiberboard segment is expected to grow at the fastest CAGR of 7.9% during the study period. The report analyzes several other products such as metal, glass, fiberglass, vinyl, among others.
Swinging segment to maintain its lion”s share through 2025
Among techniques, the swinging segment captured the largest share of about 60% in 2017 and is expected to maintain its lead through 2025. Swinging doors are largely adopted by consumers as these are easily accessible, highly durable, and capable of delivering enhanced airflow and cross ventilation. However, the revolving and other doors segment is anticipated to grow at the fastest CAGR of 7.6% from 2018 to 2025, due to the increasing demand for space-efficient homes. Revolving doors are designed to allow easy passage of multiple people at a time, which is not the case with sliding or swinging doors. The other types analyzed in the report are sliding and folding doors.
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Residential segment to be lucrative through the study period
The residential segment generated the highest revenue share in 2017, accounting for more 58% of the total market revenue. The segment is expected to register the fastest CAGR of 6.7% during the study period. Over the last few years, the residential construction segment witnessed substantial growth due to heavy investments in the real estate sector in the North American, Asia-Pacific, and African countries.
Asia-Pacific to remain lucrative through 2025
The Asia-Pacific region generated more than half of the total market share in 2017 and is expected to maintain its lead through 2025. In addition, this segment is projected to grow at the fastest CAGR of 6.9% during the forecast period, owing to the booming real estate sector in India, China, and other developing countries. The other regions analyzed in the report include North America, Europe, and Latin America, Middle East and Africa (LAMEA).
Torchbearers of the market
The key players analyzed in the report include Artisan Hardware, Bayer Built WoodWorks Inc., Chaparral Doors, Colonial Elegance Inc., Concept SGA., Contractors Wadrobe, Jeld-Wen Holding Inc., Masonite International Corporation, Rustica Hardware, and Simpson Door Company. These market players have adopted several market strategies such as new product launch, partnerships, collaborations, and mergers & acquisitions to maintain their foothold in the industry.
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PORTLAND, Oregon, October 25, 2018 /PRNewswire/ —