2014 was a positive year for trade. At the year’s end, manufacturing output was up 2.7%, while construction output increased 3.6% compared to 2013.
Despite fearmongering and speculation, economic predictions look strong for the year ahead, which is positive news for the fenestration industry. New builds accounted for 21.9% of all new construction work – with a lot of large window and door orders up for grabs.
So what do these economic predictions mean for our industry?
1. Composites will increase their market share
According to the Palmer Report 2014, the composite door market experienced massive growth in 2013, increasing its market share to an incredible 40%. With a new year ahead of us, this popularity for solid slab composites like the ones we supply at the Composite Door Network shows no sign of slowing down.
2. Triple glazing sales will grow
The Palmer Report highlights how the triple glazing market is ‘bound to grow strongly in the coming years’. With energy efficiency ranking top of homeowners’ priorities for their homes, triple glazed products (such as composite doors) present a very real way to maximise the thermal retention of a property.
3. Homeowners will have more money to spend!
With the economic forecast looking good for the coming months, 2015 should see homeowners dip into their pockets and continue to spend more on home improvement projects. Many installers reported a surge in sales last year and there’s every indication that this trend will continue into the new year.
4. Conservatories will continue to decline in popularity
In 2013, conservatories experienced a 2% fall in popularity, along with a 10% decline in first-time installations. Predictions for the coming year look set to see similar results. This suggests that installers might benefit more from taking advantage of the popularity of other home improvement products, such as bi-folds or composite doors, rather than conservatories.
Quality composite door supplier
If you’re looking for a high quality composite door for a project, look no further than the Composite Door Network. With a range of high quality solid slab composites on offer, there’s sure to be something in our range to match your needs. To find out more, give us a call on 01142 313 133 or send us an email.
Sources:
The Construction Index
Palmer Report 2014
