New Product Developments & Launches was the key Development Strategy Adopted by the Leading players to Grow in the Composite Doors & Windows Market.
Composite doors have various applications due to their versatile properties. Composite doors and composite windows are being increasingly used in recent years, as they provide improved performance, corrosion resistance, design freedom, and weight reduction as compared to traditional materials. These composites have excellent mechanical properties and stiffness-to-weight ratio, which are desired in the construction industry. The global composite doors and composite windows market is projected to reach USD 1,171.4 Million by 2021, at a CAGR of 6.33% from 2016 to 2021.
Key companies offering composite doors and composite windows have adopted the strategy of new product developments or launches to gain competitive edge over other composite door manufacturing companies and offer customers innovative products. This strategy accounted for a share of 62% of the total growth strategies adopted by the leading companies between 2012 and 2016. Companies adopted this strategy to increase their product portfolio and gain access to potential markets. Key companies also adopted the strategy of expansions to improve their distribution channels, strengthen their global presence, and meet the growing customer demands. The strategy of agreements and partnerships accounted for a share of 15% of the total strategies adopted by the key players between 2012 and 2016. Leading companies acquired small composite manufacturing companies in emerging regions to expand their global reach.
Major manufacturers profiled in this report are Dortek (Ireland), Special-lite INC (U.S.), Curries Assa Abloy Group (U.S.), Vello Nordic AS (Norway), Fiber Tech Pvt. Ltd. (India), Andersen Corporation (U.S.), Pella Corporation (U.S.), and Wood Plastic Composites and Hardy Smith Group (India). These companies have adopted various organic and inorganic growth strategies such as agreements and partnerships, expansions, mergers & acquisitions, and new product developments or launches to expand their global presence and increase their penetration in the composite doors and composite windows market.
Dortek (Ireland) is one of the key manufacturers of composite doors and composite windows and offers a wide range of GRP, FRP, and hygienic composite doors. The company has adopted strategies such as product enhancement and launches to grow in the composite doors market, and focuses on differentiated business models, proprietary technology, and competitive cost structures. As part of its growth strategy, the company is focused on the expansion of its capacity to cater to the increasing demand for composite doors. In 2015, the company expanded its new office in Auckland to serve the growing demand for composite doors and composite windows in New Zealand. This development helped the company to directly serve its customers in New Zealand where there is growth potential for the market, especially in commercial and residential applications.
Curries, Assa Abloy Group, manufactures composite doors through its advanced materials segment. Curries operates across the globe and has a leading position in Europe and North America. The company is focused on new product developments for its growth and in 2016, the company developed mercury energy efficient composite doors, thus establishing the company as one of the leading manufacturers of composite doors.
Related Reports:
Composite Doors & Windows Market by Resin Type (Polyester, Polyvinylchloride (PVC)), Type (Fiber Reinforced Plastics (FRP), Wood Plastic Composites (WPC)), Application (Industrial, Commercial, and Residential), and Region - Global Forecast to 2021
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