The Chinese UPVC window and door market is growing at a faster pace with substantial growth rates over the last few years, and it is estimated that the market will grow significantly at a CAGR of more than 7% during the forecast period.
COVID-19 has also disrupted the global supply chain of the major products. China is one of the largest consumers and producers and caters to a wide range of countries by exporting several input supplies used to produce UPVC finished goods. Shut down of the production in China has forced suffered a huge loss. This is leading to the increase in the supply and demand gap and the product market. Due to the COVID-19 pandemic, the market has been under pressure since mid-February 2020, which restricted the construction of housing and building projects. The lockdown restrictions have forced to stop the manufacturing of UPVC products, resulting in a decline in the overall Chinese market.
Increasing consumer spending on the construction and renovation of commercial and residential buildings will drive the Chinese UPVC doors and windows market growth. Booming demand for energy-efficient and impact-resistant housing infrastructure will lead the industry toward more innovative product materials. Gains will be driven by growing awareness about the benefits of UPVC products, ongoing industrialization, an increasingly urban population, expanding foreign investment funding, rising personal income levels, and further population and household growth in China. In addition, the government’s effort to sustain growth in the manufacturing sector, improve the country’s infrastructure, expand municipal utilities, and balance regional economic disparity will help growth in construction spending. Government efforts to improve living conditions for low-income earners (such as the construction of affordable and low rent houses in urban areas and subsidies for alterations of dilapidated farmhouses in rural areas) will also further gains in this segment. The UPVC material offers insulation against rain. It is recyclable, offers UV protection, sound insulation, and impact resistance, and has several other commercial applications. The unplasticized PVC does not have any additive material added to it during production as the normal PVC and hence requires less energy input during production. Therefore, a massive level of residential unit construction is required to meet this demand of the housing sector. The residential sector thereby presents a huge potential for the expansion and adoption of UPVC doors and windows.
Key Market Trends
Increasing Construction and Infrastructure Development Will Drive the Product Market Growth
Increasing construction and infrastructure development industry, public funding, and a decline in construction material prices may boost the product market growth. In addition, private and public partnership projects to support infrastructure development in rural areas are expected to induce immense potential to the industry size. As the government has planned to focus on improving the infrastructure in small and medium-sized cities, the construction industry was forecasted to maintain a continuous growth at around five percent annually. Robust growth in consumer spending for manufactured goods and services, accommodative government policies, and foreign direct investment, as well as government efforts to improve standards of living in China, may help to spur gains in non-residential infrastructure.
The Industrial and Construction Segment in China is Witnessing a Surge in the Market Share
Industry and construction account for about 48% of China's GDP. China ranks first worldwide in industrial output. Major industries include mining and ore processing; iron and steel; aluminum; coal; machinery; armaments; textiles and apparel; petroleum; cement; chemical; fertilizers; food processing; automobiles and other transportation equipment including rail cars and locomotives, ships, and aircraft; consumer products including footwear, toys, and electronics; and telecommunications and information technology. China has become a preferred destination for the relocation of global manufacturing facilities. Its strength as an export platform has contributed to incomes and employment in China. The state-owned sector still accounts for about 40% of GDP. In recent years, authorities have been giving greater attention to the management of state assets-both in the financial market as well as among state-owned enterprises-and progress has been noteworthy. uPVC (unplasticized polyvinyl chloride) is one such building material that has gained attention. As a replacement to other traditional materials, uPVC is low maintenance yet effective material in making windows and doors. In the last couple of years, the market has seen increasing demand for uPVC windows and doors due to the host of benefits uPVC offers. uPVC windows and doors provide efficient thermal insulation and help in energy conservation. Not only this, uPVC windows provide high sound insulation with properly fabricated windows and installations. Due to these benefits, the growing industrial and construction segment in China propel the demand for market.
The report covers major international players operating in the Chinese UPVC doors and windows market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of COVID-19 on the Market
5.1.1 UPVC Doors
5.1.2 UPVC Windows
5.2 End User
5.2.3 Industrial and Construction
5.2.4 Other End Users
5.3 Distribution Channel
5.3.1 Offline Stores
5.3.2 Online Stores
6.1.3 Zhejiang Yuanwang Windows and Doors Co. Ltd
6.1.5 Reaching Build
6.1.6 VEKA Plastics (Shanghai) Co. Ltd
6.1.7 Weifang Beidi Plastic Industry Co. Ltd
6.1.9 Yingde Conch Profiles Co. Ltd
6.1.10 Tianjin Jinpeng Group
A selection of companies mentioned in this report includes:
- Zhejiang Yuanwang Windows and Doors Co. Ltd
- Reaching Build
- VEKA Plastics (Shanghai) Co. Ltd
- Weifang Beidi Plastic Industry Co. Ltd
- Yingde Conch Profiles Co. Ltd
- Tianjin Jinpeng Group