Outdoor shutters provide protection against extreme weather
conditions such as storms, hurricanes, and excessive sunlight. The
practical benefit drives demand in regions prone to severe
weather.
WILMINGTON, Del., July 16, 2024 /PRNewswire/ -- The outdoor
shutters market was projected to attain US$ 3.3 billion in 2023. It is likely to
garner a 6.8% CAGR from 2024 to 2034, and by 2034, the
market is expected to attain US$ 6.9
billion.
Shutters enhance the curb appeal and aesthetic value of
properties. The increasing emphasis on home improvement and
architectural design boosts the demand for stylish and customizable
shutters. The durability and low maintenance requirements of modern
outdoor shutters make them an attractive option for homeowners and
businesses, leading to sustained market demand.
The integration of smart home technology with outdoor shutters,
such as motorized and remote controlled options, is a significant
trend. The advanced features offer convenience and align with the
growing smart home market. There is a growing trend towards
customization, allowing consumers to choose from a variety of
colors, materials, and designs to match their specific needs and
preferences.
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Vintage and classic shutter designs are making a comeback as
part of the broader trend towards nostalgic and timeless home decor
styles. The expansion of the construction industry, particularly in
emerging markets, is contributing to the increased demand for
outdoor shutters as part of new building projects.
Key Findings of Market Report
- Collaborations between shutter manufacturers and construction
companies or home improvement retailers can create new sales
avenues and boost market presence.
- Seasonal changes and corresponding home improvement cycles
influence the demand for outdoor shutters, particularly in regions
with distinct seasonal weather patterns.
- Increased consumer awareness about the benefits of outdoor
shutters, including energy savings and property value enhancement,
can drive market demand.
- There is a growing preference for minimalist and modern design
aesthetics, leading to demand for sleek, contemporary shutter
styles.
- Development of hybrid shutters that combine materials like wood
and composite for enhanced performance and aesthetics is an
emerging trend.
Outdoor Shutters Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 3.3 Bn
|
Forecast (Value) in
2034
|
US$ 6.9 Bn
|
Growth Rate
(CAGR)
|
6.8 %
|
No. of
Pages
|
270
Pages
|
Segments
covered
|
By Material, By Product
Type, By Application, By Region, By End-use
|
Market Trends for Outdoor Shutters
- By material, the composite shutters segment among these is
expected to stimulate the growth of the outdoor shutters
market.
- Composite shutters are known for their exceptional durability
and resistance to warping, cracking, and fading. They are designed
to withstand harsh weather conditions, making them a preferred
choice for outdoor applications.
- Unlike wood, composite shutters require minimal maintenance.
They do not need frequent painting or sealing, which reduces the
overall upkeep cost and effort for homeowners.
- On the basis of product type, the plantation shutters segment
is anticipated to augment the market prospects.
- Plantation shutters are highly versatile and can complement a
variety of architectural styles, from traditional to contemporary.
Their clean, classic lines and wide louver design add a
sophisticated touch to any exterior.
- The adjustable louvers of plantation shutters allow for precise
control over light and privacy. Homeowners can tilt the louvers to
allow in natural light while maintaining privacy, which enhances
their functionality and appeal.
Global Market for Outdoor Shutters: Regional Outlook
North America
- North America, particularly
regions like the Gulf Coast and the Southeastern United States, is prone to
hurricanes and severe storms.
- Outdoor shutters provide critical protection against these
extreme weather conditions, driving their demand.
- The strong culture of home improvement and renovation in
North America drives the demand
for outdoor shutters.
- Homeowners are continually looking for ways to enhance the
aesthetics and functionality of their homes, with shutters being a
favored upgrade.
Asia Pacific
- The booming real estate and construction industry in countries
like China, India, and Southeast Asian nations is a
significant driver.
- New residential, commercial, and hospitality projects often
include outdoor shutters for their functional and aesthetic
benefits.
- There is growing awareness and adoption of home improvement
products in the Asia Pacific
region.
- Consumers are increasingly recognizing the benefits of outdoor
shutters, such as improved security, privacy, and aesthetic
appeal.
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Outdoor Shutters Market: Key Players
The competitive landscape of the outdoor shutters market is
characterized by the presence of several key players competing for
market share.
The companies vary in terms of their product offerings,
geographical presence, pricing strategies, and focus on innovation.
The following companies are well known participants in the outdoor
shutters market:
- Timberlane Inc.
- Royal Corinthian
- Decorative Shutters
- U.S. Shutter Company
- Larson Shutter Company
- Southern Shutter Company
- Atlantic Premium Shutters
- ShutterLand Exterior Shutters
Key Developments
- In 2023, Westlake Royal Building Products revealed an
extended collaboration with U.S. LUMBER and Amerhart, prominent
brands under Specialty Building Products (SBP). The expanded
partnership will encompass a variety of products and geographical
locations. U.S. LUMBER and Amerhart are renowned distributors of
building materials.
- In 2022, Tucson Rolling Shutters Inc. announced plans to
construct a 14,500-square-foot expansion adjacent to its current
12,000-square-foot facility in Tucson, United
States. The expansion aims to accommodate the increasing
demand for retractable patio screens, particularly in the regions
of Arizona and Texas.
Outdoor Shutters Market Segmentation
Material
- Wood Shutters
- PVC Shutters
- Aluminum Shutters
- Composite Shutters
- Others
Product Type
- Plantation Shutters
- Panel Shutters
- Louvered Shutters
- Bahama & Bermuda Shutters
- Board & Batten Shutters
- Solid Shutters
- Tier-on-Tier Shutters
- Shaker Style Shutters
- Combination Shutters
- Others
Application
- Homeowners
- Commercial Establishments
- Hospitality Industry
- Industrial Facilities
- Others
End Use
- Residential
- Commercial
- Industrial
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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