Interior Doors Market Outlook:
The interior doors market garners substantial traction worldwide. The market growth attributes to the increasing sales of interior doors across the construction industry. Besides, rising usages of interior doors in DIY construction projects drive the growth of the market significantly. Moreover, growing infrastructure development projects across the globe escalate the market valuation to furthered height, creating tremendous market demand.
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According to Market Research Future (MRFR), the global interior doors market is estimated to reach USD 12 BN by 2025, growing at 6.1% CAGR during the forecast period (2019-2025). Rapidly growing global economy and urbanization over the past few years had substantiated the market demand exponentially. Also, increasing tiling and decorative works provide a considerable impetus to the growth of the market, absorbing massive amounts of construction interior doors.
On the other hand, price volatility and the demand-supply gap in the raw materials required for production are the major factors expected to hamper the market growth. Nevertheless, augmenting demand for improved visual aesthetics and privacy in multifamily dwellings would support the market growth throughout the predicted period. Also, increasing construction infrastructure development activities worldwide are expected to increase the size of the market.
Global Interior Doors Market – Segmentation
The report is segmented into four dynamics;
Door Type : Panel Door, Bypass Door, Bifold Door, Pocket Door, and others.
By Material: Wood, Glass, Metal, Fiberglass, Fiberboard, Vinyl, and others.
By End-Use: Residential, Commercial, and Industrial.
By Regions : North America, Europe, APAC and Rest-of-the-World.
Interior Doors Market – Geographical Analysis
The Asia Pacific region dominates the global interior doors market. The largest market share attributes to the burgeoning construction industries in the region. The region has been attracting foreign investors due to its raw material advantage, cost-competitive logistics, and moderate regulatory framework. Besides, the rising usages of interior doors due to the increased renovation projects in commercial and residential constructions drive the market growth.
APAC economies like India, Japan, and China account for significant shares in the regional market due to their large production consumption capacities. Additionally, rapid industrialization and urbanization in China, India, Thailand, Indonesia, Malaysia, and South Korea fosters regional market growth, driving the construction industry. The APAC interior doors market is expected to retain its leading position throughout the forecast period.
Europe stands second in the global interior doors market. The market is driven by increasing commercial and residential construction projects across the region. Moreover, the rapidly growing DIY tiling projects in the region substantiate the market demand. European countries such as Germany, Italy, Spain, and the UK, account for prominent consumer markets due to the increasing expenditures on innovation and growing purchasing power. The European interior doors market is projected to grow at a significant CAGR during the assessment period.
The interior doors market in North America is growing steadily. Factors such as augmented absorption of interior doors in the building construction sectors drive the regional market growth. Moreover, rising investments and the implementation of new rules regulations proposed by the government push the regional market growth. The North American interior doors market is expected to progress significantly during the review period.
Global Interior Doors Market – Competitive Analysis
Highly competitive, the interior doors market appears fragmented due to the presence of several well-established players. Industry players initiate strategies such as mergers acquisitions, collaboration, and innovations to gain a larger competitive share. Similarly, they strive to deliver high quality and reliable products developed with innovative technologies and best industry practices. They primarily invest in new product development and business expansion.
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The leading players the interior doors market include Colonial Elegance Inc., Artisan Hardware, Jeld-Wen Holding Inc., YKK AP Inc., Masonite International Corporation, Bayer Built WoodWorks Inc., and Marvin Cos. among others.
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