Window manufacturers are launching new products and adding capacity for hot sellers in response to demand from the new construction and remodeling segments, which continue to edge up but also show signs of letting up.
Overall, the new housing market is expected to grow in 2022, then drop slightly in 2023, with a 5 percent decline forecast for 2024, according to the Fenestration and Glazing Industry Alliance's 2021-22 "Study of the U.S. Market for Windows, Door and Skylights."
Released in May, the study says demand for prime windows grew by 8.8 percent in 2021 with orders for new housing increasing by 13 percent. While the report projects an increase of 5 percent in prime window demand for 2022, it shows flattening in 2023 and a decline of 5 percent in 2024. In the remodeling and replacement segment, window demand grew in 2021 by 5 percent and is forecast to grow in 2022 by 5 percent, with growth of 3 and 2 percent in 2023 and 2024, respectively.
Charlotte, N.C.-based Jeld-Wen Holding Inc. and Bayport, Minn.-based Andersen Corp. are responding with new products and capacity expansion.