Aluminium, as we all know, is one of the most essential and prominent materials used for infrastructural development all across the globe. The material is widely used in several industries, including defense, transportation, automotive, energy generation, and packaging. It is one of the most common material applications in the construction industry. Being weatherproof, sturdy, energy-efficient, secure, and eco-friendly, homeowners and architects prefer using aluminium as the primary material for their fenestration needs. No wonder it is the second most consumed metal around the world. In the previous year, aluminium consumption was a whopping 88 million tonnes!
Here is more about the aluminium windows and door market in 2022:
Here are some amazing facts to help you get an overview of the aluminium fenestration market this year:
The aluminium doors and windows industry is projected to increase from $56.32 billion in 2021 to $58.85 billion in 2022 at a CAGR of 4.5%. At a compound annual growth rate (CAGR) of 5.4% from 2018 to 2026, the global market for aluminium doors and windows is projected to reach $72.60 billion.
Regarding the Indian market, the construction industry accounts for around 13% of India’s overall aluminium requirement. Numerically, this is approximately 4 million tonnes. The demand for aluminium windows and doors is rising due to a massive surge in building projects this year.
Aluminium doors and windows are becoming increasingly popular among construction organizations due to their durability, affordability, and widespread use in today’s building industry.
The market for affordable housing in India is expected to receive a boost from several programs, like Housing for All, by the 2022 effort. Under this plan, developers and builders get access to cheaper debt capital, lowering the overall cost of homes and increasing demand for aluminium doors and windows among first-time home buyers.
The Impact of the COVID-19 Pandemic
As we all know, the COVID-19 pandemic has significantly affected each industry, including the building and construction industry, resulting in a massive market revenue decrease. The global market witnessed a drop of more than 7% in the previous fiscal year. However, with things returning to normal, the market is expected to bounce back and witness an increased demand for aluminium products. The global residential segment is expected to generate a demand exceeding 10 billion square feet by 2027.
New Technologically-Advanced Housing Products Launched
India’s manufacturers and fabricators are working on innovations to increase thermal insulation and weatherproofing in windows and doors. Their sliding casement windows and doors are designed according to the client’s specific needs, including the product’s dimensions and function. Some leading fenestration product manufacturers have developed some of the most technologically advanced and feature-loaded products to help you lead a comfortable lifestyle. Thus, the tilt and turn windows price is justified with these amazing features.
TOSTEM India is one of the prominent names in the housing industry. With aluminium windows and doors meeting ASTM (American Standards for Testing and Materials) and BS (British standards). The brand aims to offer you sturdy and premium quality products. The products also have a water-tightness certification and wind resistance rating that can withstand even the most challenging weather conditions. TOSTEM India offers factory-made products, and the assembly and installation of the windows and doors are generally done at the site.
We hope this information helped you understand how the aluminium window and door market is performing this year. With the introduction of some leading brands, the Indian fenestration market is bound to achieve new heights in the coming years.