A rise in housing completions and increased construction spending is expected to push U.S. demand for windows and doors up 10% annually to total $34.2 billion in 2016, according to the latest market report from Cleveland-based market research firm The Freedonia Group.
The report cites plastic windows and doors as the fastest-growing segment with a forecasted increase of 12% each year through 2016, when the sector will be worth $9.8 billion. This, as manufacturers improve upon products’ looks to help the segment steal market share from its wood and metal alternatives.
Freedonia also forecast that North American drywall sales are rebounding, with anticipated annual growth of 11.3% to total 3.2 billion square meters by 2016. That’s after demand fell 12% annually between 2006 and 2011. The North American market is on the fast track to be 30.5% of global demand in 2016 against Asia/Pacific’s 43% of global demand that year.