The spread of the COVID-19 crisis has significantly impacted on almost every industry, including building construction. The pandemic has resulted in half of several construction projects across the world and various nations have forced lockdowns, which have seriously impacted the supply chain of raw materials and products. Due to the lockdown and regulation activity, most of the industrial and commercial projects are commanded to shut down. Adding to that, the COVID-19 pandemic also disrupted the manufacturing sector owing to the closure of the production plant. All these factors hampered the growth of the global plantation shutter market. Furthermore, the effect of COVID-19 on the global plantation shutter market has witnessed losses due to declining sales and distribution. However, the demand for the market was expected from various applications in the post-pandemic, which will help the market to grow further. Post-COVID -19 pandemic, production is expected to rise to overcome the losses faced during the pandemic. With increasing building construction activity, the plantation shutter market is expected to witness a huge demand during the forecast period.

MARKET OVERVIEW- GLOBAL PLANTATION SHUTTER MARKET 

MARKET DRIVERS

An increasing urbanization due to the growing number of housing projects across the globe is one of the major factors driving the global plantation shutter market. Adding plantation shutters to homes increases their market value as they instantly add a low-maintenance and energy-efficient fixture to the home. Plantation shutters are becoming popular within modern homes that emphasize clean lines and simplicity. Moreover, rapid westernization across developing countries such as India and China increased demand for plantation shutters. In addition, the rising consumer investments in building and décor along with the introduction of automated shutters increased demand for the market. Plantation shutters are versatile, less expensive and they can increase the value of homes are some major factors fueling the plantation shutters market growth.

MARKET RESTRAINTS

Plantation shutters are made up of wood and wood and there are several areas where wood is not the best choice for shutters. Plantation shutter is susceptible to moisture and humidity is the major factor hampering the plantation shutter market growth.

MARKET OPPORTUNITIES

The rising consumer investments in building aesthetics and increasing consumer disposable income has resulted in demand for attractive décor items, which has created a good opportunity for the plantation shutter market.

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MARKET GROWTH CHALLENGES

High cost of raw material is the major growth challenge of plantation shutter in the market.

CUMULATIVE GROWTH ANALYSIS

The report provides in-depth analysis of the global Plantation shutter market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. An increase in the adoption of attractive home décor items and growing number of housing projects are key factors fueling the aortic valve replacement devices market. It is expected to witness a growth at a specific CAGR from 2022-2028.

MARKET SEGMENTAL OVERVIEW

The global Plantation shutter market comprises of different market segment like type, product, end-user and geography. 

PLANTATION SHUTTER MARKET BY TYPE

The shutter types studied in the global plantation shutter market are wood, vinyl and composite. The wood shutter type accounts for the largest share in the plantation shutter market. A wood shutter can reduce heat loss by 75-90% and it provides an insulation value between 4.0 and 10.0. Wood shutters are the better choice than other types of shutters. Also, they look authentic and are more durable and versatile than other types of shutters. Further, the majority of homeowners prefer the appearance of wooden shutters and wooden shutters offer a timeless look. The type of wood available allows customers to customize their shutters to match their home’s décor, like the interior shutters. 

PLANTATION SHUTTER MARKET BY PRODUCT

The products of the global plantation shutter market are interior shutter and exterior shutter. The interior shutter product accounts for the largest share in the plantation shutter market. Interior wood shutters are timeless and versatile and they are perfect for complementing both traditional and contemporary styles. Interior plantation shutters are easier to maintain and they do not deteriorate quickly and they last longer. Also, wood shutters help with controlling the amount of sunlight that enters a room, also to protect against weather or unwanted intrusion or damage and to enhance the aesthetics of a building. 

PLANTATION SHUTTER MARKET BY END-USERS

The shutters end-users studied in the global plantation shutter market are residential, commercial and others. The residential segment accounts for the largest share in the market. An increase in the number of households and rising urbanization in developing economies such as India and China, which is why there is demand for plantation shutters increased in the residential sector. Further, the interior plantation shutter provides a good view and shuts in plenty of light.

PLANTATION SHUTTER MARKET BY GEOGRAPHY

The global plantation shutter market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is likely to dominate plantation shutter market The high standard of living in the region especially in the United States. With an increase in the number of households in the country increased demand for the home décor items. For instance, according to the FMCA. In 2020, more than 800,000 new homes were sold in the United States along with more than 5.5 million existing residences. Further, according to the United States Census Bureau, construction spending on public residential building grew in the United States in 2021.

COMPETITIVE LANDSCAPE ANALYSIS 

The competitive landscape analysis of plantation shutter market is certainly based range of market players operating in the market with increasing urbanization due to the growing number of housing projects across the globe boost the plantation shutter market growth. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments. 

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