The report on global interior doors market published by Market Research Future (MRFR) has communicated that the market will expand at 6% CAGR during the forecast period of 2018-2023. Several factors are contributing to the growth of the interior doors market. These factors include increasing residential and commercial renovation activities and a growth pattern observed in the construction industry.
Further, a proliferating demand for visually pleasing aesthetics and privacy among multi-family dwellings is also estimated to promote growth in the interior doors market. Moreover, the availability of interior doors in a vast variety of designs, colors, materials has enabled manufacturers to provide customized products according to the demands of the client, further augmenting the demand for interior doors. Additionally, growing disposable income in emerging economies across the globe is also likely to drive the interior doors market. Also, the growing preference for sustainable building solutions is anticipated to bolster the demand for interior doors in the global market.
The global interior doors market is segmented by Market Research Future (MRFR) on the basis of door type, material, and end-use. Segmentation of the interior doors market based on door type has been made into panel, bifold, bypass, and pocket doors. The panel doors segment was the frontrunner in the market in 2017 and is projected to exhibit the largest growth rate through the forecast period. A wide range of application in residential, commercial, as well as, industrial constructions is likely to boost lucrative growth in the panel segment. Also, a wide variety of materials in panel doors including wood and glass is fueling its demand.
Based on material, the global interior doors market is segmented into wood, glass, metal, fiberboard, vinyl, and fiberglass. Demand for wood-based interior doors was commanding the market in 2017. An increase in the demand for visually pleasing aesthetics and premium interior products is likely to boost the growth of the wood-based segment over the review period. The fiberboard segment is projected to garner the highest growth throughout the forecast period owing to its high mechanical strength, cost-effectiveness, and its water-resistant property.
Based on end-use, the global interior doors market is segmented into residential, commercial, and industrial. Demand for interior doors is estimated to grow at the highest rate in the residential sector in Asia-Pacific and the Middle East. Easier home loan availability coupled with substantial investment opportunities in the real estate sector is estimated to push the residential segment in the foreseeable future.
Detailed Regional Analysis
The global interior doors market is segmented on the basis of region into Europe, Asia Pacific, North America, and Rest of the World. Asia Pacific possessed the largest market share for interior doors in 2017. Heavy investments in residential and commercial construction projects in various countries like India, Singapore, Malaysia, China, and Thailand is anticipated to boost market growth in the region. Meanwhile, the Middle East is projected to exhibit a rising demand for interior doors owing to major growth opportunities created by the hospitality industry. According to Lodging Econometrics, more than 80 hotels are likely to be built in the UAE and Saudi Arabia. Further, favorable government initiatives to diversify economic goals and fuel growth of the tourism industry are expected to bolster an ascension in the market growth in the region.
The global interior doors market is characterized by a considerable number of international, as well as, regional players. Companies are undertaking strategic initiatives including competitive pricing, product launches, expansions and investments, as well as, brand awareness.
Key Market Players
The global interior doors market boasts a presence of many noteworthy players including Artisan Hardware, Colonial Elegance Inc., Jeld-Wen Holding Inc., Masonite International Corporation, YKK AP Inc., Bayer Built WoodWorks Inc., and Marvin Cos.
2019: Masonite has launched five different interior doors in the residential doors’ domain namely: Livingston Interior Molder Door, Wrought Iron Frame, Snap-Fit Frame, Impact-Rated Mini Blinds, and Cross Reed Glass. All these doors are designed to serve different purposes including a rustic look or a sleek modern look, privacy provision, maximizing natural light without compromising privacy, and severe weather protection.