Experts are beginning to anticipate a dramatic rise in the manufacture of windows and dose throughout the next four years. They project that it will rise by nearly 24% before the year 2020. North America will trail only behind Asia and the Pacific market. It is also anticipated that doors will be in higher demand than windows, and commercial and other non-residential buildings with be in higher demand than residential buildings.
The Source of These Figures
The study is based on the market value of windows worldwide, analyzing the past demand in recent years. Other factors that were considered to yield calculation were environment factors, market share evaluation, and an analysis of several important corporations in the industry.
Current State
The team that conducted this study is based out of Cleveland. They suggest that the current demand of the industry is worth nearly 20 billion dollars, expanding precipitously in the last few years. In 2020, the demand will expand by almost 6% every year.
While the demand for windows is not as staggering, the figures are still impressive. Experts believe that there will be a 20% rise in demand by 2020, based on previous years.
Driving Force
They also suggest that one of the main factors is the construction of housing. This will have many positive effects, including raising the value of homes, boosting the economy, and much more.
Other Effects
This will also raise the value of the material used to construct doors and windows, such as wood and plastic. They anticipate that the dollar value of wood is expected to increase by 42%, while the dollar value of plastic will increase by 32%.
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