Vinyl Windows Market Share, Segments, Growth Rate, Revenue and Forecast till 2031
The Vinyl Windows Market Share is estimated to reach $41.41 billion by 2031
The Vinyl Windows Market Share was valued at $26.54 billion in 2021, and is estimated to reach $41.41 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.
Vinyl Windows are windows made out of a plastic material, PVC (Polyvinyl Chloride). Adoption of vinyl windows and patio doors will continue to expand as builders and homeowners increasingly recognize the benefits of vinyl’s low cost, energy efficiency, and minimal maintenance requirements. Moreover, vinyl windows are cheaper and will help drive sales of vinyl windows.
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One of the primary factors driving the growth of the vinyl windows market is the global expansion of the residential construction and renovation sector. The rise in demand for lightweight vinyl windows in the residential construction industry for the purpose of insulation, as well as the increased adoption of these panels because they offer features such as lowering thickness, high insulation, and super sealing, all of which are important in building structures, is propelling the market forward. Government of various countries are investing in residential sector due to rise in population and for better living standards. For instance, in December 2019, new residential construction targets were introduced by the German government. Several incentive schemes for efficient residential buildings and refurbishment were updated and relaunched at the beginning of 2020 to help meet these goals. Hence, due to rise in population, these investments in construction sector will increase the utilization of vinyl windows. All such factors are providing lucrative opportunities in vinyl windows market forecast period.
However, during the COVID-19 pandemic, various manufacturers in the market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of window companies. In addition, lack of manpower and raw materials also constricted supply of equipment of vinyl window system, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to the re-opening of vinyl window companies.
Asia-Pacific has dominated the vinyl windows market share in terms of revenue in 2021, due to growth in the residential sector owing to rising population and income level. Moreover, rise in renovation activities in the developing countries, as well as an increase in the construction of buildings, will provide a wide range of opportunities for the self-adhesive vinyl films to be used for windows, ceilings, walls, kitchen and many such interior spaces which boost the Asia-Pacific vinyl windows market growth.
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