Aluminum Window Profile Market Estimated To Witness High Growth Owing To Increasing Construction Activities
Market Dynamics:
The growth of the aluminum window profile market is attributed to increasing construction activities around the world. Rapid urbanization has resulted in the large-scale development of infrastructure and real estate, thus propelling the demand for aluminum window profiles. According to data by the United Nations, approximately 68% of the world population is expected to live in urban areas by 2050.
Another key driver for the market growth is the rising adoption of green building techniques. Aluminum window profiles aid in energy efficiency of buildings as they help reduce electricity consumption for heating and cooling by allowing natural light and ventilation. They also improve indoor air quality as they prevent air infiltration. This makes them a preferable component for LEED certified green buildings.
The global Aluminum Window Profile Market Share is estimated to be valued at US$ 827.03 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: The aluminum window profile market has strong growth potential due to increasing construction activities. Aluminum window profiles provide durability, energy efficiency and lower maintenance costs. They help reduce heating and cooling costs substantially.
Weakness: Significant initial investments are required to set up aluminum window profile manufacturing units. Supply chain disruptions amid the ongoing Covid-19 pandemic have constrained the production volumes.
Opportunity: Growing demand for green buildings provides opportunities for aluminum window profile manufacturers. Aluminum is 100% recyclable without any loss in quality, providing opportunities in the sustainable building sector.
Threats: Volatility in aluminum prices impacts the overall costs. Strict environmental regulations pertaining to aluminum production pose challenges.
Key Takeaways:
The global aluminum window profile market is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing construction activities across developing nations of Asia Pacific and Middle East and Africa. Rapid urbanization and growing population are driving the new construction and remodeling activities.
Regionally, the Asia Pacific aluminum window profile market is expected to witness fastest growth, growing at a CAGR of over 6% during the forecast period. Countries such as China, India, Indonesia, and Vietnam dominate the regional market owing to rising spending on infrastructure development and public construction.
Key players operating in the aluminum window profile market are 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. The market is highly fragmented with the top five players accounting for less than 35% of the global market share. Key players are focused on strengthening their distribution channels to expand footprint worldwide.
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