Volume 14, Issue 8- October 2013
PWorld Demand for Doors and Windows to Reach $223 Billion in 2017
Through 2017, global demand for doors and windows is expected to rise 7.1 percent annually to $223 billion, significantly exceeding the growth rate of the 2007-2012 period, according to World Windows and Doors, a new study from The Freedonia Group Inc., a Cleveland-based industry market research firm.
China was the world’s largest door and window market in 2012, and will see its share of global demand rise to 36 percent of the total in 2017. Rapid demand gains are also expected in the other developing areas of the world—particularly in the Africa/Mideast region nd South America. However, gains will be slightly below the world average, as the global financial crisis did not have as strong an impact as in the developed areas, and these regions are starting from a higher 2012 base. Rising personal incomes will lead to the adoption of more Western-style building practices, encouraging the use of modern doors and windows and boosting demand gains.
Single-Family Pushes Housing Starts Up
Single-family housing starts rose 7 percent to a 628,000 unit pace. Regionally, single-family starts activity rose 9.6 percent in the Northeast, 7.1 percent in the Midwest, 2.3 percent in the South and 17.5 percent in the West.
The annualized rate of multifamily production fell 11.1 percent to a seasonally adjusted annual rate of 263,000 units.
Remodeling Gains to Continue into 2014
“Homeowners are more comfortable investing in their homes right now,” says Eric S. Belsky, managing director of the Joint Center. “Consumer confidence scores are back to pre-recession levels, and since recent homebuyers are traditionally the most active in the home improvement market, the growth in sales of existing homes is providing more opportunities for these improvement projects.”
291 Markets Improve in September
In September, 242 housing markets retained their existing positions on the IMI while 49 new markets were added and five were dropped from the list. Recent additions include such geographically diverse locations as Macon, Ga.; St. Cloud, Minn.; Brownsville, Texas; Spokane, Wash.; and Milwaukee, Wis.