Fiberglass window Market Expected to Reach $5.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Fiberglass window Market," The fiberglass window market size was valued at $3.8 billion in 2021, and is estimated to reach $5.9 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

A fiberglass window is highly energy efficient. It has an air cavity that is filled with a foam-filled core or a hollow core, both of which act as a very good insulating material. The frame expands and contracts the same as glass, resulting in a reduced leakage of air and an increased energy efficiency of the windows. Fiberglass windows are recyclable and have a low environmental impact. They are widely used in green buildings as they reduce the carbon footprint of the building. They help in reducing the air conditioning or heating costs that are involved in heating or cooling the building.

The demand for windows is largely driven by the increase in multifamily housing trends, rise in adoption of fiberglass windows in commercial sector, and development of energy-efficient windows. Fiberglass windows are commonly found in hotels and restaurants. These windows can rarely be scratched, peeled, or warped, and offer more cold weather advantages owing to their insulation properties is expected to boost the fiberglass window market growth. However, this material is widely utilized, as it is least affected by harsh environments as compared to other materials such as wood and vinyl. Moreover, escalation in industrialization and urbanization in economies, which include India and Africa, is expected to cater to the development of the windows market. Further, a surge in consumer expenditure on home renovation and enhancement activities and improvement in new construction activities are expected to provide remunerative growth opportunities for the market players.

Major players have adopted product launches, partnerships, and acquisitions as key strategies to sustain the competition and improve the product portfolio. For instance, in July 2021, Milgard Windows & Doors launched the new AX550 Moving Glass Walls in standard and custom sizes for both new home construction and replacement or remodeling projects. This launch is anticipated to bring enrichment to its product line.

Furthermore, Asia-Pacific accounted for the highest share of the global fiberglass window market share in terms of revenue in 2021, owing to increased investment in tourism by private as well as public sector, which has led to the increased construction activities, is expected to boost the fiberglass window market opportunity.

However, during the COVID-19 pandemic, various manufacturers in the fiberglass window market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of fiberglass windows companies. In addition, lack of manpower and raw materials constrained the supply of raw materials of fiberglass windows, 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 re-opening of fiberglass windows companies.

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging global fiberglass window market trends and dynamics. 
• Depending on operating type, the casement segment has dominated the fiberglass windows market, in terms of revenue in 2021 and projected to grow at a significant CAGR during the forecast period.
• By end-user, the residential segment has registered highest revenue in 2021.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the global fiberglass window market growth are profiled in this report, and their strategies are analyzed thoroughly, which helps understand competitive outlook of the fiberglass window industry.
• The fiberglass windows market forecast analysis from 2022 to 2031 is included in the report.
• In-depth global fiberglass window market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.