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Press Release: Aluminum Window Profile Market to Surpass US$ 991.34 Million by 2026
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Aluminum Window Profile Market – Insights
The global aluminum window profile market is projected to reach US$ 991.34 million by 2026, at a CAGR of 4.2% over the forecast period, owing to increasing aluminum demand worldwide from construction sector coupled with growing preference for sustainable buildings.
Aluminum frames are fabricated with high-performance metal and offer improved thermal performance. These frames can be thermally broken, which further increases their energy efficiency. Moreover, thermal break technology comes in two crucial formats: reinforced polyamide bar and a resin-filled channel. Both these formats create insulated barrier within the window frame, which slows down heat, noise, and cold up to 1000 times. These factors are expected to increase demand for aluminum window profiles over the forecast period.
Aluminum windows find application in residential, commercial, and industrial construction. Demand from residential segment is predicted to grow at a faster pace during the forecast period, owing to increasing preference for energy-efficient homes. This in turn is propelling demand for aluminum profiles in window, particularly for slim aluminum window profiles. Therefore, significant growth in the real estate sector is expected to boost demand for aluminum window profiles over the forecast period. According to India Brand Equity Foundation (IBEF), real estate sector in India was valued at US$ 120 billion in 2017, and is expected to reach US$ 1 trillion by 2030.
However, loss of heat and interior condensation associated with aluminum window profile is projected to hamper the market growth. However, aluminum frames that have thermal break technology have high thermal performance between outer and inner parts of the frame. According to Branz’— a provider of testing facilities—frames with thermal break feature can be thermally more efficient than those aluminum frames without this technology.
The global aluminum window profile market was valued at US$ 698.41 million in 2017, and is expected to register a CAGR of 4.2% in terms of revenue over the forecast period (2018 – 2026).
Figure 1. Global Aluminum Window Profile Market Share (%) By Region, 2017
Source: Coherent Market Insights, 2017-18
Asia Pacific is the fastest growing market and accounted for the largest market share of 47.9% in 2017, owing to increasing construction activities in this region. Increasing construction activities in emerging economies such as China and India is attributed to rise in disposable income, which is also expected to drive the market growth. As per IBEF, per capita GDP of India is expected to reach US$ 3273.85 by 2023, which as per World Bank was US$ 1942 in 2017.
Furthermore, key players in the market are focusing on using eco-friendly construction techniques pertaining to windows in order to enhance their market share. For instance, companies such as Velfac — a major supplier and manufacturer of aluminum window profiles — uses around 30% of aluminum that comes from recycled sources in window profile production and 95% is produced via hydro-electricity. The window unit produced by the company is considered re-usable up to 93%. Therefore, this trend is expected to reduce aluminum wastage and propel growth of the aluminum window profile market over the forecast period.
Players operating in the global aluminum window profile market are adopting various growth strategies such as mergers & acquisitions and business expansion to enhance their market share. For instance, in June 2017, Apogee Enterprises acquired EFCO Corporation (Window manufacturer). EFCO became the ninth independent operating unit in Apogee portfolio. The acquisition is expected to help Apogee Enterprises to expand its presence in mid-size commercial buildings sector and geographic presence in the U.S.
Major players operating in the global aluminum window profile market include, Apogee Enterprises Inc., Fletcher Building, Ply Gem Holdings Inc., YKK AP Inc., LIXIL Group Corporation, Xingfa Aluminium, Sapa Group, PGT Inc., Wacang, and Fenan Group.
Windows are the integral part of any infrastructure such as houses, schools, or hospitals. The frame of the window is constructed using different materials such as aluminum, vinyl, wood, or other materials. Aluminum windows offers benefits such as durability, reduced heat effect, lightweight nature, smoother opening and closing of windows, noise control, and moisture resistance. These features are expected to drive growth of the aluminum window profile market. Key players in the market are adopting different business strategies such as mergers and acquisitions to expand their global footprint. For instance, in 2018, PGT Inc. acquired Western Window Systems, which manufactures and designs residential and commercial doors and windows. This acquisition helped the company to diversify its geographic footprint and customer base.
Market Dynamics
Among applications, residential segment is expected to account for major share in the aluminum window profile market. Increasing preference for energy-efficient windows and slim aluminum profiles for aesthetic appeal are key factors aiding growth of the residential segment in the global aluminum window profile market.
Asia Pacific accounted for 47.9% market share in 2017 due to increasing construction activities in emerging economies such as China and India.As per IBEF, Indian construction sector received foregin direct investments inflows accounting for US$ 24.67 billion and US$ 12.36 billion, respectively from April 2000 to December 2017. Moreover, increasing disposable income and government initiatives & investment in infrastructure activities are expected to drive growth of construction sector, which in turn will escalate the demand for aluminum window profile market in Asia Pacific.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
* Browse 25 market data tables* and 15 figures* on “Aluminum Window Profile Market” - Global forecast to 2026.
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