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Fiberglass Doors Market to Reach $33.0 billion by 2032 at 9.1% CAGR: Allied Market Research
Allied Market Research published a report, titled, Fiberglass Doors Market Size, Share, Competitive Landscape and Trend Analysis Report by End user (Residential, Non-residential), Product type (Interior [Sales Channel, Online, Offline] Exterior [Sales Channel, Online, Offline]), and Design (Solid Doors, Doors with Glass): Global Opportunity Analysis and Industry Forecast, 2023-2032. According to the report, The global fiberglass doors market size was valued at $13.6 billion in 2023, and is projected to reach $33.0 billion by 2032, growing at a CAGR of 9.1% from 2023 to 2032.
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Prime determinants of growth
The growing construction and infrastructure industry is significantly contributing toward the market growth. However, countries such as the U.S., Germany, and other developing countries are focused on developing new technologies in the wood panel and Fiberglass Doors industry to sustain their market share during the forecast period. The combination of design flexibility, strength, cost-effectiveness, sustainability, consistency in quality, and ease of handling makes Fiberglass Doors a preferred choice for furniture manufacturers, leading to an increasing demand for Fiberglass Doors in the furniture and construction segment.
Report coverage & details:
Report Coverage
Details
Forecast Period
2023–2032
Base Year
2023
Market Size In 2023
$13.6 billion
Market Size In 2032
$33.0 billion
CAGR
9.1 %
No. Of Pages In Report
210
Segments Covered
Type, Application, End User, And Region.
Drivers
Growth In The Furniture Industry Surge In Infrastructure Development Around The Globe Rapid Urbanization In Emerging Economies
Opportunities
Advance Manufacturing Technologies In Fiberglass Doors Industry
Restraints
Volatile Price Of Raw Materials
COVID-19 Scenario
The outbreak of the COVID-19 pandemic had a negative impact on the Fiberglass Doors market, owing to the temporary closure of manufacturing firms during the lockdown.
Not only the production but also the sale of Fiberglass Doors was hampered due to the closure of manufacturing factories across the world, especially in the initial period of the pandemic.
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The softwood segment dominated the market in 2023, and others segment is expected to grow at a significant CAGR during the forecast period
By product type, the market is categorized into hardwood, softwood, and others. The softwood segment accounted for a higher market share in 2023, accounting for more than half of the market revenue. Fiberglass Doors is relatively cost-effective compared to solid wood, making it an attractive choice for residential projects, especially for budget-conscious consumers. Softwood comes in different grades and finishes, allowing for customizable designs and aesthetics. Homeowners and interior designers often prefer Fiberglass Doors for its natural wood grain appearance, which adds warmth and character to residential spaces.
The furniture segment dominated the market in 2023, and others segment is expected to grow at a significant CAGR during the forecast period
Depending on application, the Fiberglass Doors market is categorized into construction, industrial, furniture, and others. The furniture segment is accounting for half of the market revenue. Fiberglass Doors is lightweight and easy to handle, which simplifies the installation process for contractors and DIY enthusiasts alike. Its uniform structure and dimensional stability also contribute to ease of installation and reduces wastage during construction. Fiberglass Doors is considered to be more environmentally sustainable compared to some other building materials. Many Fiberglass Doors manufacturers adhere to sustainable forestry practices and use adhesives with low volatile organic compound (VOC) emissions, making it a preferred choice for environmentally conscious consumers.
The residential segment dominated the market in 2023. Non-residential segment is expected to grow at a significant CAGR during the forecast period
Based on end user, the Fiberglass Doors market is divided into residential, and non-residential. The residential segment accounted for more than half market share in terms of revenue in 2023. Fiberglass Doors are a versatile material used in various aspects of construction, including flooring, roofing, walls, and furniture. Fiberglass Doors offer superior strength and durability compared to other materials like particleboard or medium-density fiberboard (MDF). It can withstand structural loads and provides stability to the framework of residential buildings. With the growing population and urbanization, there is a continuous demand for new residential constructions and renovation projects.
Asia-Pacific dominated the market share in terms of revenue in 2023
The Fiberglass Doors market is analyzed across North America, Europe, Asia-Pacific, and Latin America & MEA. In 2023, Asia-Pacific accounted for half of market share, and it is expected to grow at a significant CAGR throughout the forecast period. China holds the maximum share in the Fiberglass Doors industry in the Asia-Pacific region. The Fiberglass Doors market in Asia-Pacific has gained traction in the recent years, owing to ongoing construction development in China, Japan and India. For instance, rising expenditure for infrastructure development is boosting the Fiberglass Doors market in Asia-Pacific.
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Leading Market Players: –
ETO Doors
PlastPro Inc.
Taylor Entrance Systems
Milgard Manufacturing
Masonite International Corporation
Bayer Built Inc.
ASSA ABLOY Group
Therma-Tru Doors
Jeld-Wen Holding Inc.
Pella Corporation
MasterGrain, Stanley Black & Decker, Inc.
Trinity Glass International, Inc.
Steves & Sons, Inc.
Kohltech Windows & Entrance Systems
GlassCraft Door Company
Fibertec Windows & Doors Mfg
The report provides a detailed analysis of these key players in the Fiberglass Doors market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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The post Fiberglass Doors Market to Reach $33.0 billion by 2032 at 9.1% CAGR: Allied Market Research appeared first on HIPTHER Alerts.
Sainsbury’s, a prominent UK supermarket chain, is set to leverage Microsoft’s artificial intelligence and machine learning tools to elevate its store operations and provide customers with a more engaging and convenient shopping experience.
As part of its strategic initiative, the ‘Next Level Sainsbury’s strategy’, the supermarket will integrate generative AI, powered by Microsoft Azure, to enhance its online shopping platform and optimize customers’ search experience. By harnessing AI capabilities, Sainsbury’s aims to offer a more interactive and personalized online shopping journey for its millions of customers across the UK.
In addition to enhancing the online shopping experience, Sainsbury’s plans to equip its store colleagues with real-time data and insights to streamline in-store processes such as shelf replenishment. Leveraging multiple data inputs, including shelf-edge cameras, AI technology will guide colleagues on prioritizing restocking activities, thereby improving efficiency and productivity.
Over the next five years, Sainsbury’s will deploy Microsoft Azure to implement these initiatives, integrating data assets with Microsoft 365 collaboration tools to drive innovation and operational excellence.
Clodagh Moriarty, Chief Retail and Technology Officer at Sainsbury’s, expressed confidence in the collaboration with Microsoft, emphasizing its role in accelerating the supermarket’s ambition to become the UK’s leading AI-enabled grocer. Moriarty highlighted the strategic investment in transformative capabilities, aimed at enhancing efficiency, productivity, and customer service while delivering value to shareholders.
Clare Barclay, CEO of Microsoft UK, commended Sainsbury’s visionary approach, noting its commitment to placing AI at the forefront of its business strategy. Barclay expressed enthusiasm for the collaboration, emphasizing its potential to revolutionize the retail experience for both customers and store colleagues.
The partnership between Sainsbury’s and Microsoft signifies a significant step towards ushering in the next generation of retail, powered by innovative AI-driven solutions.
Source: technologyrecord.com
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Artificial intelligence has made remarkable strides, from passing bar exams to reading bedtime stories with emotion. Yet, despite these feats, it still falls short of matching the intricate nuances of human communication—particularly, the art of sarcasm.
However, researchers in the Netherlands are determined to change that narrative. They have developed an AI-driven sarcasm detector that can discern when sarcasm is being used, a feat previously thought to be exclusive to human cognition.
Matt Coler, from the University of Groningen’s speech technology lab, expresses excitement about the project’s progress. He emphasizes the importance of understanding sarcasm, a pervasive aspect of human discourse, to facilitate seamless communication between humans and machines.
Recognizing sarcasm poses challenges due to its subtlety, especially in text-based interactions where cues like tone and facial expressions are absent. To overcome this, researchers trained their AI using a combination of text, audio, and emotional content from popular sitcoms like Friends and The Big Bang Theory.
The AI, trained on annotated data from these shows, demonstrated an impressive ability to detect sarcasm in unlabelled exchanges from the sitcoms, achieving an accuracy rate of nearly 75%. Further enhancements are underway, including incorporating visual cues like eyebrow movements and smirks, to improve accuracy even more.
Beyond enhancing interactions with AI assistants, this technology holds potential for detecting negative language and identifying instances of abuse or hate speech. However, as AI becomes more adept at understanding sarcasm, questions arise about its potential to wield sarcasm itself.
Coler muses about the implications of machines responding with sarcasm, raising concerns about clarity in communication. Nonetheless, advancements in AI-driven sarcasm detection offer promising prospects for improving human-machine interactions and bridging the gap between artificial and human intelligence.
Source: theguardian.com
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Issues surrounding bias in AI are deeply rooted in the accuracy, trustworthiness, and quality of data, which, if overlooked, can significantly skew outcomes. Lyndsey Jones, an AI author and transformation coach, delves into these concerns, offering valuable insights for newsrooms on monitoring and reviewing data.
Madhumita Murgia, an AI journalist and the first artificial intelligence editor of the Financial Times, sheds light on how women, migrants, precarious workers, and minority groups are disproportionately affected by the technical limitations of Generative AI. Murgia emphasizes the lack of representation of these groups in the development process of AI technologies, highlighting the need for inclusive participation.
WAN-IFRA Women In News workshops on the Age of AI in the newsroom have brought bias effects to the forefront. Through the Digital ABCs training program, media professionals are equipped with skills to navigate the digital landscape and drive organizational change.
A newly launched module focuses on AI, with over 100 participants in eastern Europe taking part, now extended to journalists in parts of Africa, the Middle East, and Southeast Asia. Instances of bias surfaced during the training, such as generating offensive avatars and misinterpretation of accents in AI tools.
Google CEO Sundar Pichai’s acknowledgment of biased AI tools reflects ongoing concerns in the industry. Timnet Gebru’s dismissal from Google for highlighting biases further underscores the need for vigilance in addressing these issues.
Diverse teams in WIN’s Age of AI program are experimenting with various tools like fact-checking and enhancing staff skill sets in AI usage. Projects under consideration for further EU funding include a video lab for content amplification and an AI avatar for journalist safety.
Media companies must ensure diverse staff collaboration when testing AI tools. Quotas for women in AI research and cross-border partnerships may be necessary for smaller media groups to compete effectively.
Journalists can take steps to improve content quality by examining storytelling practices and ensuring diversity in sources and representation. Consistency of data collection across departments and assessing biases in data sets are crucial for ethical AI usage in journalism. Ultimately, AI tools should be used to enhance journalism’s quality and integrity, rather than generating clickbait or misinformation.
Source: wan-ifra.org
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