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The Awning Market is forecasted to grow from USD 8.18 Billion in 2020 to USD 13.83 Billion by 2028, at a CAGR of 6.9% during the forecast period. The market is primarily driven by the increase in people’s inclination to embellish residential and commercial establishments and advances in fabric materials.

Awnings are sheets of fabric or other materials supported by an aluminium, iron, or wood structure. They can be deployed to provide shade at the door, window, patio, and gardens. They have numerous applications that both in the commercial and residential sectors prove beneficial.

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Factors like expanded living space and sun protection, advances in fabric material, and luxury building embellishment drive market growth. Furthermore, smart awnings with sensors are expected to propel the growth of the global awning industry in stormy or rainy weather.

It is expected that high capital costs coupled with the need for skilled human resources will hamper the entry of new market entrants that is expected to impact growth over the forecast period.

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Key companies analyzed in the report include:

Advanced Design Awning & Sign (US), Carroll Awning (US), Awning Company of America (US), KE Durasol (US), Eide Industries (US), NuImage Awnings (US), Marygrove Awning (US), Sunesta (US), Sunair Awnings (US), and Sunsetter Products (US).

Further key findings from the report suggest:

The Awning Market is forecast to grow from USD 8.18 Billion in 2020 to USD 13.83 Billion by 2028, at a CAGR of 6.9% during the forecast period. The market is primarily driven by the increase in people’s inclination to embellish residential and commercial establishments and advances in fabric materials.

The market for retractable awning is expected to grow the largest at USD 5.26 Billion in 2028, at a CAGR of 7.2% during the forecast period because of its unique motorized technology and increased demand across high-end residential and commercial sectors. High demand for retractable type due to protection from harsh sunshine, glare and interior fading is expected to increase the market penetration over the forecast period.

Based on product type, the market for patio is expected to grow the largest at USD 4.54 Billion in 2028, at a CAGR of 7.6% during the forecast period. Due to the growing demand in the residential sector and in commercial resorts, patio awnings are expected to dominate the market.

The market for residential sector is expected to reach USD 7.70 Billion in 2028, at a CAGR of 7.9% during the forecast period. Growing residential construction industry is expected to drive demand over the forecast period, coupled with growing consumer preference for outdoor decks and seating areas.

The market for North America is expected to hold the largest market share at USD 4.30 Billion in 2028, at a CAGR of 7.2% during the forecast period. Increasing consumer preference for outdoor deck and seating space construction units is expected to drive demand for retractable products in residential application over the forecast period. Furthermore, rise in product innovation with additional features including remote control assistance, sun and wind sensors is expected to have a positive impact on the growth of the industry.

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The chemical industry produces a vast array of products that affect almost every part of modern life. While many of the industry’s products, including as detergents, soaps, and perfumes, are sold directly to consumers, others are utilized as intermediates in the production of other goods. In Europe, for example, 70% of chemicals produced are used to make products for other sectors, including various branches of the chemical industry. The industry works with a variety of basic materials, including air, minerals, and oil.

With increased global competition, finding new ways for the business to satisfy it’s smarter, demanding, and environmentally sensitive consumers remains critical.

The chemical industry’s output can be split into three categories: Basic chemicals, Specialty chemicals, and Consumer chemicals.

Basic chemicals, which are manufactured in vast quantities, are primarily sold within the chemical industry and to other industries before reaching the general public. Crop protection, paints and inks, and colorants are all examples of specialty chemicals (dyes and pigments). Chemicals utilized in industries as diverse as textiles, paper, and engineering are included.

Growing use of raw materials and chemicals in a wide range of industries is a key driver for market growth

The global materials & chemicals industry comprises companies largely involved in the manufacture of various chemicals and raw materials such as oil, natural gas, metals, and minerals. Growth of the industry revenue is majorly attributed to rising demand for consumer products such as soaps, perfumes, detergents, increasing use of materials & chemicals in major industries of the world including buildings & construction, food & beverage, and agriculture, and surging demand for sustainable and environment-friendly materials.

Industry revenue growth is further supported by growing environmental awareness among global consumers, technological advances in various chemical products, growing preferences for organic materials & chemicals, and increasing industrial demand for high-performance specialty chemicals.

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Type

Fixed

Retractable

Freestanding Awning

End User (Kilo Tons)

Vinyl

Acrylic

Natural Materials

Fiberglass

Metal

Others

 Major Regions covered in the report:

North America (U.S.A., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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