Demand for doors is forecast to increase 4.5% annually through 2023, according to a recent study published by The Freedonia Group. Growth will primarily be driven by gains in the metal and wood market segments.
Wood is the most popular material for the residential market because of its frequent installation for interior doors in homes, the Cleveland-based research group finds. Interior doors typically see less wear and tear than exterior doors, so durability is less important, allowing wood to dominate the market. Metal remains the preferred door material for nonresidential applications because of its strength, security, durability, and low maintenance.
The Freedonia Group estimates metal and wood will account for 91% of all door sales through 2023. Both materials, though, will face increasing competition from fiberglass doors in the residential market. Fiberglass doors can offer the same strength and durability as metal entry doors and can resemble the look and texture of wood while offering improved energy efficiency over both materials.
The full study, Global Windows & Doors, is available for $6,400 from The Freedonia Group.