Fiberglass Window Market Global Trends, Share, Growth, Opportunity and Forecast 2031 | At a CAGR of 4.2%
Increase in residential & commercial construction activities, and upsurge in home renovation & remodeling expenditures propel growth.
PORTLAND, OR, UNITED STATES, July 13, 2023/EINPresswire.com/ — According to the report published by Allied Market Research, the global fiberglass window market was estimated at $3.8 billion in 2021 and is expected to hit $5.9 billion by 2031, registering a CAGR of 4.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
A fiberglass window is highly energy efficient. It has an air cavity that is filled with a foam-filled core or a hollow core, both of which act as a very good insulating material. The frame expands and contracts the same as glass, resulting in a reduced leakage of air and an increased energy efficiency of the windows. Fiberglass windows are recyclable and have a low environmental impact. They are widely used in green buildings as they reduce the carbon footprint of the building. They help in reducing the air conditioning or heating costs that are involved in heating or cooling the building.
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The demand for windows is largely driven by the increase in multifamily housing trends, rise in adoption of fiberglass windows in commercial sector, and development of energy-efficient windows. Fiberglass windows are commonly found in hotels and restaurants. These windows can rarely be scratched, peeled, or warped, and offer more cold weather advantages owing to their insulation properties is expected to boost the fiberglass window market growth. However, this material is widely utilized, as it is least affected by harsh environments as compared to other materials such as wood and vinyl.
Moreover, escalation in industrialization and urbanization in economies, which include India and Africa, is expected to cater to the development of the windows market. Further, a surge in consumer expenditure on home renovation and enhancement activities and improvement in new construction activities are expected to provide remunerative growth opportunities for the market players.
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The global fiberglass window market is analyzed across Operating Type, Application, End-User, and Region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on operating type, the casement segment held nearly two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 5.1% throughout the forecast period.
Based on application, the new construction segment garnered nearly three-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The renovation and reconstruction segment, on the other hand, would project the fastest CAGR of 5.0% throughout the forecast period.
Based on end-user, the residential segment held more than two-thirds of the total market revenue in 2021, and is expected to dominate by 2031. The non-residential segment would also cite the fastest CAGR of 4.9% throughout the forecast period.
Based on region, the global fiberglass window market across Asia-Pacific generated more than half of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also manifest the fastest CAGR of 4.7% during the forecast period. The other provinces analyzed through the report include North America, Europe, and LAMEA.
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Top Players
The key market players analyzed in the global fiberglass window market report include Alpen, Andersen Corporation, Builders FirstSource, EnerLux, Fibertec, Harvey Windows and Doors, Inline Fiberglass, JohnKnight Class, Westeck, Kohltech, Lorendo, Marvin, Milgard, Pella Corporation, Cascadia Windows & Doors, Quality Window&Door, and Agoura Sash and Door (ASD). These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
David Correa
Allied Analytics LLP
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