The global UPVC Windows market size is envisaged to gain steady momentum over the next few years owing to the astronomical growth in construction activities worldwide, finds Fortune Business Insights™ in its report, titled “UPVC Windows market size, share & industry analysis, By Application (Residential, Commercial)and regional forecast 2021-2028”.
Accelerated urbanization, high-tech and innovative technologies facilitating the construction of smart cities, and the soaring demand for commercial spaces and personal housing due to a rapidly expanding middle-class in developing economies have increased the intensity of construction operations. According to a paper co-developed by Oxford Economics and Global Construction Perspectives, the value of construction output is set to hit USD 15.5 trillion by 2030, surging at an average rate of 85% over the next decade. India, China, and the US will account for 57% of this growth, as per the report’s findings.
UPVC (unplasticized polyvinyl chloride) is a building material that has gained attention due to its high quality and recyclable nature, being seen as a replacement for other traditional materials such as timber and other low-quality plastic materials used in construction sites. This material is low maintenance yet effective in making windows and doors. Construction companies are replacing conventional timber and aluminum windows with modern and eco-friendly uPVC windows. These windows offer a higher degree of durability and security and are also cost-effective, as well as provide efficient insulation from weather and pollution. Further, unlike many window types, UPVC windows are completely termite-and corrosion-free. Thus, their adoption by several construction firms worldwide is boosting this market.
COVID -19 Impact
The outbreak of the COVID-19 pandemic has crippled the global economy, and the UPVC windows market growth has also been impacted. Since construction was not deemed an essential activity, the majority of construction projects had come to a halt. Furthermore, with lockdown, social distancing, and trade restrictions in place, supply chains in the windows industry were choked amid the pandemic, stalling the growth of this market.
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Fortune Business Insights™ lists out a few of the renowned companies present in the upvc windows market. They are as follows:
- Munster Joinery
- LG Hausys
- NAWA International
- Specialized Qatar UPVC Systems Company
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Green Construction Approach to Fuel Market Growth
With the demand for environment-friendly construction materials rising, UPVC windows have taken over the market as they are recyclable. To bring green building technologies into the urban construction landscape, property developers and construction companies have started taking the initiative to build green-certified properties and started using features that will favor green constructions. To support green constructions, builders and polymer-making companies are producing uPVC pipes for making doors and windows. Moreover, the UPVC material can help accelerate sustainability in the construction industry because the green construction approach helps buildings to use less energy, water, and materials to reduce impacts on human health and the environment. In addition, uPVC doors and windows are free of lead (Pb) and other hazardous substances, making them safe for humans as well look.
Flourishing Residential Sector in Asia Pacific to Create Promising Opportunities
Among regions, Asia Pacific is poised to dominate the UPVC windows market share in the forthcoming years due to rapid urbanization experienced by countries such as India and China in the last few decades. This speedy growth of urban areas has created a thriving residential sector in these countries, making them an investment hub for construction companies.
On the other hand, lucrative opportunities await for companies in North America for UPVC windows and doors that guarantee fire-safety and energy efficiency for buildings. This may help to meet the latest building regulations. The Middle East & Africa region also favors the market for UPVC windows due to the proliferation of many domestic uPVC producers.
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, Taiwan, India, South Korea, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
On the basis of application, this market is bifurcated into residential and commercial. Based on geography, the market’s divisions include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Key Players to Concentrate on Expanding Business Operations
The competitive dynamics of this market are being shaped by the expansion of operations by key players. The demand for recyclable construction materials is rising as the environment is the main concern of the hour. For instance, Fenesta and Rehau claim that uPVC products at the end of their life, are converted into other useful products along with the waste materials that are generated during the manufacturing of these uPVC pipes. Developing and developed nations are working together to use materials that are environment friendly as well as of superior quality.
July 2019: Sanitaryware producer HSIL Ltd announced that it will double the capacity of its newly set up plastic pipes and fittings facility at Isnapur in the Sangareddy district of Telangana. They have planned to manufacture 60,000 metric tonnes per annum at an investment of Rs150 crore by 2022.
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