Market Overview:
The global fiberglass doors market size was valued at around USD 13.2 billion in 2021 and expected to grow at a CAGR of 9.6% during the forecast period. Fiberglass doors are doors made of composite materials composed of fiberglass and polyester resins. They are highly durable, energy-efficient, low maintenance, and offer better insulation than traditional wooden or steel doors. Fiberglass doors are available in a variety of designs, colors, and sizes, making them a popular choice for residential, commercial, and industrial applications. They are resistant to weather, scratches, dents, and warping, making them suitable for areas with high humidity or extreme temperature conditions. Additionally, fiberglass doors offer high security and are also resistant to fire and moisture, making them a preferred choice for high-risk areas.
Covid-19 Impact:
The COVID-19 pandemic has had a significant impact on the global fiberglass doors market. The construction industry was heavily impacted by the pandemic, with many construction projects being delayed or cancelled due to lockdowns, travel restrictions, and supply chain disruptions. This has led to a decline in demand for fiberglass doors.
However, the pandemic has also led to an increased focus on home improvement projects, with many people spending more time at home. This has resulted in increased demand for high-quality, durable, and energy-efficient fiberglass doors for home renovation projects.
Furthermore, the supply chain disruptions caused by the pandemic have resulted in increased prices for raw materials, transportation, and labor. This has led to higher prices for fiberglass doors, which may impact demand from price-sensitive consumers.
Overall, while the pandemic has caused some challenges for the fiberglass doors market, the increased focus on home improvement projects and the benefits of fiberglass doors such as durability and energy efficiency are expected to drive demand in the long term.
Market Dynamics:
Drivers:
Increasing demand for energy-efficient doors: Fiberglass doors are known for their energy-efficient properties, making them a popular choice among consumers who are looking to save on their energy bills. As awareness about energy efficiency increases, the demand for fiberglass doors is expected to rise.
Growing construction activities: The construction industry is one of the major drivers of the fiberglass doors market. With the increasing construction activities across the world, the demand for fiberglass doors is expected to rise.
Rising demand for durable and low-maintenance doors: Fiberglass doors are highly durable and require low maintenance, making them a popular choice among consumers. As consumers are looking for doors that are long-lasting and require minimal maintenance, the demand for fiberglass doors is expected to rise.
Increasing popularity of modern and stylish doors: Fiberglass doors are available in a variety of designs and styles, making them a popular choice among consumers who are looking for modern and stylish doors. As the demand for modern and stylish doors increases, the demand for fiberglass doors is also expected to rise.
Growing demand from the residential sector: The residential sector is one of the major end-users of fiberglass doors. With the increasing demand for residential buildings across the world, the demand for fiberglass doors is expected to rise.
Restraints:
High cost: Fiberglass doors are relatively expensive compared to other types of doors such as wood or steel doors. This can be a deterrent for cost-sensitive consumers, especially in emerging economies.
Limited design options: Fiberglass doors offer limited design options compared to wood or steel doors. This may limit their appeal to consumers who are looking for more design flexibility and customization options.
Limited availability: The availability of fiberglass doors is still limited in some regions, especially in emerging economies where the market is still developing. This can limit the growth of the market in these regions.
Regional Analysis:
North America: The fiberglass doors market in North America is expected to grow significantly owing to the increasing demand for energy-efficient building solutions, renovation, and remodeling activities, and the growing construction industry in the region.
Europe: The fiberglass doors market in Europe is expected to witness significant growth due to the rising demand for sustainable construction materials and the increasing trend of renovating old buildings with energy-efficient solutions.
Asia Pacific: The fiberglass doors market in the Asia Pacific region is expected to witness significant growth due to the increasing demand for energy-efficient solutions, the rising number of construction activities, and the growing trend of renovating old buildings in the region.
Middle East & Africa: The fiberglass doors market in the Middle East & Africa region is expected to witness steady growth owing to the growing construction industry, increasing urbanization, and the rising demand for sustainable building materials.
South America: The fiberglass doors market in South America is expected to witness moderate growth due to the increasing construction activities and the growing trend of renovating old buildings with energy-efficient solutions.
Market Segmentation:
By product type, the market can be segmented into:
• Hinged Doors
• Sliding Doors
• French Doors
By application, the market can be segmented into:
• Residential
• Commercial
Based on region, the market can be segmented into:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Competitive Landscape:
Some of the key players operating in the global fiberglass doors market include:
Jeld-Wen Holding Inc.
Masonite International Corporation
Pella Corporation
Therma-Tru Doors
Simpson Door Company
Steves Doors
Western Window Systems
ETO Doors Corporation
GlassCraft Door Company
Plastpro Inc.
These companies are focusing on research and development activities, strategic partnerships, and acquisitions to expand their market presence and strengthen their position in the market. Additionally, they are also investing in product innovations and technology advancements to enhance the features and capabilities of their fiberglass doors.