The window market - Italy (2023)

1.2 The global market

The global window and door market will experience an increase in demand due to a rapid growth of cities and the process of industrialization, which, in turn, will lead to the development of new residecial and commercial construction activities. The window and door market is also experiencing an increase in demand due to the expansion of residential and nonresidential construction. This expansion is largely attributed to the increase in disposable income of individuals around the globe, particularly in India, China and Brazil, as well as South Africa and Vietnam. The size of the windows and doors market is estimated at about $***.** billion in the current year and is expected to grow at a CAGR of *.* percent during the forecast period.

Global window market value World, ****-****, in billions of dollars (***) Mordor Intelligence

People's structural changes in demanding spaces and sound insulation systems due to changing lifestyles increase demand for this market. In addition, government spending on housing and public infrastructure has improved the product's reach. Demand is strongly oriented toward a search for design and premium colors with different features.

1.3 The local market

In **** , there is an increase in the window and curtain wall market of **.*%, with an actual value of * billion euros. In addition, in **** there are strongly positive figures in the construction sector, with growth reaching almost +**%, with clear benefits on the demand for windows and doors and facades. Essential in the increase in demand was the contribution made by tax incentives (***), determining **% of the demand for windows and doors.

The value of the market is divided between the residential and nonresidential markets; as far as the residential market is concerned, it accounts for about ** percent of the total and amounts to *.* billion euros. The nonresidential market is around *.* billion euros, including *.*** million euros for windows and doors and *** million euros for curtain walls.

Breakdown of the window market Italy, ****, % Ingenio-web

Industry revenues

These positive growth trends are expected to be confirmed in the two-year period ****-****, with lower growth rates of *.* percent in **** and *.* percent in ****. The highest value attested in recent years is in ****, with growth of **.* points over the previous year.

Revenue trends in the window and curtain wall sector Italy, ****-****, % Wind Market

Metal windows and doors

The metal windows and doors sector has been growing steadily. This ...

1.4 The foreign market

To assess the size of the foreign market, it is necessary to examine the different types of categories that comprise it; the most relevant options include windows made of aluminum, plastic, wood, iron or steel. Each material has different characteristics that influence its positioning in the global market, making a detailed overview essential for understanding the dynamics that dominate this sector.

The value of the foreign market for aluminum windows

Starting with the analysis of aluminum windows, it can be seen that the value of exports dominates the value of imports throughout the period under analysis (***). This denotes a positive trade balance regarding this type of product; although maintaining a very high value, there is a *.* percent decrease in the value of exports from **** to **** . As for imports, it can be seen that there has been a decisive growth in recent years: from **** to **** the value undergoes an increase of **.* percent.

Imports, exports and coverage rate: aluminum windows (***) Italy, ****-****, in millions of dollars (***) UNComtrade

Aluminum windows exports

The top five consumer countries for aluminum windows produced in Italy are France (***).

Distribution of exports among the top * consumer countries Italy, ****, % UNComtrade Import aluminum windows Analyzing the value of imports, we see ...

1.5 Impact of the conflict between Russia and Ukraine

The Russian-Ukrainian conflict has had a significant impact on the window and door manufacturing industry, leading to higher producer prices.

Geopolitical tensions have generated instability in supply chains, with disruptions in transportation and access to crucial raw materials. This uncertainty has triggered higher operating costs for companies in the industry, which have faced logistical challenges and faced fluctuations in material prices. Increased demand for construction-related products, driven by renovations and adaptations to new safety conditions, has further exacerbated pressure on producer prices.

Specifically, we see a *.*-point(***) rise in prices from February ****, - the month in which the conflict broke out -, to September ****, - the latest available data.

Producer prices of industry - manufacture of doors and windows Italy, ****-****, base ****=*** (***) Istat

2.1 Demand characteristics

The following is an overview of windows and doors and facades in the period between **** and ****, providing a perspective of the value that will be achieved in ****.

Window frames and facades are crucial elements of a building's architecture. Window frames (***) provide style and regulate natural light and interior ventilation. On the other hand, facades form the outer envelope of the building, providing protection from the weather and improving energy efficiency. In residential settings, the value of these elements is amplified, as they directly influence the living comfort of the home. The attention given to windows and doors and facades in residences reflects care for the well-being of the inhabitants and contributes to creating welcoming and functional environments. Compared to nonresidential buildings, the relevance of such installations is amplified, as they go beyond mere functionality, influencing the emotional connection and quality of life within living spaces.

From **** to ****, there is a **.* percent increase in windows and facades, and it is expected to grow by about * percent in **** compared to ****. For non-residential structures, demand is growing by **.*% , and an increase of *.*% is expected in **** .

Demand for windows and doors and facades Italy, ****-****, in millions of euros (***) Window Market

The majority of windows ...

2.2 Demand drivers

The following is an overview of the type of customers, divided between metal windows and doors and facades.

The predominance of business transactions for metal windows and doors occurs in the context of the private sector(***).

Breakdown of sales by customer type - metal windows and doors Italy, ****, % Window Market

Moving on to analyze the curtain wall segment, there are high sales percentages(***).

Breakdown of sales by customer type - curtain walls Italy, ****, % Window Market

2.3 Geographical distribution of demand

The following is an alternative analysis focused on the sector of enterprises active in residential and nonresidential construction. In the absence of precise details, it can be suggested that the larger presence of firms in a particular region reflects a high level of construction activity in that area. The proliferation of firms in the industry could be interpreted as an indicator of growing demand and construction activity, suggesting a direct connection between the presence of firms and construction development in a given geographic area.

The area with the largest number of firms is Southern Italy(***).

3.1 Market structure and dynamics

To visualize the size of the Italian market, the number of firms active in the manufacture of metal doors and windows is presented. The values below are, therefore, specific to the metal product, as the Istat database does not provide values for the manufacture of plastic, iron or wooden windows.

Specifically, it can be seen that from **** to **** there has been a significant reduction in the number of companies active in the sector, amounting to **.* percent. The lowest value recorded in the last five available years occurs in ****(***).

Firms active in the manufacture of metal doors and windows Italy, ****-****, thousands of units Istat

Analyzing the legal form of enterprises active in the sector, it can be seen that ** percent are Individual Entrepreneurs, freelancers or self-employed. This type of legal form provides administrative flexibility and ease of management control, while also entailing specific responsibilities and obligations. **.* percent of active enterprises are General Partnerships, *.* percent are Limited Partnerships, and ** percent are Limited Liability Companies.

Legal form active enterprises in the manufacture of metal doors and windows Italy, ****, % Istat Reflecting with the previously analyzed values regarding the activity of enterprises in the sector, there is a reduction in the numbers of employees in ...

3.2 Value Chain

Extraction and Supply of Raw Materials: includes the collection and processing of materials such as wood, aluminum, PVC, and glass, which are needed for window production Manufacturing and Assembly: stage involving the transformation of raw materials into window components (***) and their assembly to create the finished product. Design and development: involves research and development to improve the quality, energy efficiency, durability, and design of windows. This stage may include customization of windows to the specifications required by customers. Distribution and logistics: phase of transporting windows from manufacturers to distributors or retailers, as well as inventory management. Installation and after-sales service: this stage includes the installation of windows in buildings and the provision of after-sales services, such as maintenance, repair, and replacement.

3.3 Main actors

Below are the main players in the industry, identified on the basis of turnover reported in the Companies Report register.

Fossati Serramenti: The company, with a long and successful tradition in the window and door industry, was founded in **** by Giovanni Fossati. It is considered a market leader in the industry in the country. Agostini Group: founded in **** thanks to the will of Luciano Agostini, the company is a manufacturer of windows and doors with aluminum and wood finishes, able to overcome all the thermal insulation limits of the sector. Windows Group: the company was founded in **** thanks to Stefano Zanasi's acquisition of the Italian window production division of the multinational company ALPHACAN, the undisputed leader in Italy for the production and distribution of PVC profiles for windows and doors. Diquigiovanni: DQG has been designing, manufacturing and installing PVC and PVC/aluminum windows and doors since ****. The company is based in Gambellara (***) and has always distinguished itself for the production of Made in Italy custom-made window and door frames. Cos.Met Rubolino Brothers: founded in ****, the company grew and developed thanks to the entrepreneurial vision of Nicola Rubolino, founder and director. Cosmet Group is a leading company in the industry, specializing ...

4.1 Type of Offering

Windows are one of the main structural elements of a home. In addition to performing the function of protecting the home, they contribute to sound insulation, allowing air and light to enter. Windows are also an important furnishing element as they impact the aesthetic appearance of the building and the interior of a home. The types of windows available today are many and have different characteristics, which should be carefully analyzed.

A window is a regular-shaped opening, usually square or rectangular, consisting of four main parts: the frame, sashes, hardware and glazing.

Frame: structural fixed element of the window, anchored to the wall. Sashes(***): movable elements of the window, which have the function of allowing or not allowing the passage of light and air exchange. Hardware: represents the set of all metal elements that allow the assembly and movement of the window. Glass: the glass is placed inside the sashes and blocked by a glazing bead.

Types of materials

The materials most commonly used in the manufacture of windows are PVC, wood, and aluminum. Each material has technical characteristics that make it suitable for a particular environment.

PVC windows: ensure compliance with current standards for energy conservation and environmental compatibility. The ...

4.2 Prices

To get an overview of prices, it is necessary to know the determining factors in the choice of the product:

materials chosen; type of windows; type of glass installed.

Type of material chosen

The table shows the approximate prices for a * sq m fixed window.

Type of window

The following table shows prices by type and material chosen for a * sq. m. window. Prices include VAT and the cost of insulating glass but do not include installation.

The cost of maintenance

Windows are made in such a way that they do not require frequent maintenance. For this reason, care and maintenance costs do not particularly affect the overall price. The table below shows the maintenance costs per square meter by material type and referring to a period of ** years.

[***]

4.3 Smart Windows

Smart windows are a highly technological product, the aim of which is to reduce consumption in buildings and at the same time to regulate the temperature of indoor environments. When we talk about smart windows, we refer to a broad classification of different technologies; there are many experiments being carried out in the world to create windows that not only offer a glimpse of the outside environment, but also significantly affect the well-being of the occupants. The purpose of smart windows is to help have cool temperatures in summer and warm temperatures in winter. It all comes down to the window panes, which are adaptable to outdoor weather conditions: in the presence of a lot of light and heat, they should be able to shield external radiation; in the case of cold outdoor temperatures, they should encourage higher temperatures inside the structure.

These tools are designed to ensure greater energy and thermal efficiency of buildings: it is estimated that the product can lead to energy savings of up to **-**%.

Types

Today, the most popular Smart Windows present thermochromic glass; this glass is coated with materials that change color once a given temperature is exceeded. When the glass darkens, the level ...

5.1 Rules and regulations

When new window and door frames are installed, it is necessary to comply with the relevant regulations. There are specific rules for the installation of exterior window and door frames, and knowing them allows you to do a great job.

UNI *****: the standard was issued by the Italian Standards Body (***) and provides a set of rules to clearly establish the type of window and door frames to be used, both exterior and interior, materials, techniques and professionals, broken down by phase. The regulations aim to establish the criteria for the installation of windows or other fixtures, specifying the methodology to be used during the work and the characteristics of the projects, indicating what are the criteria for production, installation and verification of the intervention. In addition, the standard determines the characteristics that a window frame must ensure: thermal and acoustic insulation, resistance to wind load, durability, air permeability, anti-effraction resistance, material requirements, compatibility between different materials, performance of accessories and all components. UNI *****-*: Three types of professionals are referred to in this part of the standard; node designers work on the design and activities that will be carried out by the construction site, window and door manufacturers provide guidance on ...

5.2 Bonus Fixtures 2024

The window and door bonus is a tax break useful for recovering part of the resources spent on replacing fixtures and windows in homes. The bonus is linked to renovation or energy efficiency interventions in buildings. This government initiative, extended until December **, ****, allows property owners to be eligible for tax deductions on expenses incurred to improve the energy efficiency of buildings.

There are mainly two types of incentives available for those who wish to replace windows and doors:

Ecobonus **%: an incentive that focuses on work carried out to improve the energy efficiency of buildings; it includes the replacement of: exterior window frames, front doors, shutters, blinds, shutter boxes and shutters, provided that the replacement is concurrent with that of windows. The deduction rate for window and door frames and shutters is ** percent (***). Bonus Casa **%: wider incentive than Ecobonus, as it generically includes building renovation. This bonus allows interventions such as: extraordinary maintenance, restoration, conservative rehabilitation or building renovation (***). The deduction is ** percent on a maximum expenditure of **,*** euros, distributed in ** annual installments.

Ecobonus

You can benefit from the Ecobonus tax deduction only in the event that the replacement or modification (***) of window and door frames occurs. This is provided that the ...

6.1 Segmentation

Italian Enterprises

Foreign enterprises

• Fossati Serramenti
• Agostini Group
• Gruppo Finestre
• Diquigiovanni
• Cos.Met fratelli Rubolino
• C.I.M.A.
• Elledi Finestre in PVC
• Simar
• Aluplast Italia
• Risposta Serramenti
• Seraplastic
• Puigmetal
• Sawinmak PVC Machines
• LBB Trade-Aluminium Extrusion
• Stanbrook & Nicholson