2 Dec 2016
Find out what the glass and glazing industry predict for 2017. The CPA's latest blog discusses the future of the fenestration industry.
Since the historic Brexit vote in the Summer, consumer confidence has taken a hit. Uncertainty about our future in the EU has affected all parts of our lives. Fluctuations in the value of Sterling has seen national spending decrease towards the end of 2016. With 2017 just around the corner, what is the future looking like for the UK’s glass and glazing industry and the wider economy?
As the financial markets begin to steady out, the government are looking at ways to boost the UK economy. In his autumn statement, chancellor Philip Hammond announced a £2.3 billion investment for the home building sector in 2017. The government hope to fund 100,000 new homes in high demand areas in 2017.
More homes means more windows and doors. Growth in the UK construction industry in general will help to boost glazing manufacture and installation throughout the UK. This is expected to increase consumer confidence and steadily grow the UK economy.
The CPA recently conducted a survey involving all their members. The results show that 41% of members predicted growth across the industry in 2017. Their predictions for the UK economy were less positive. 27% predicted growth while 37 % predicted decline over the next couple of years.
The most positive area for predicted growth was sales. 72% of members predicted that their sales would increase in 2017. Alongside an increase in sales 51% predicted an increase in company profits. Businesses are looking towards 2017 with increasing positivity in an uncertain market, buoyed by industry demand.
One of the areas predicted for strongest growth in 2017 is the aluminium market. Both fabricators and installers are preparing for increased demand in aluminium products across the UK market.
Once seen as uniquely for the commercial market, aluminium products have seen a steady increase in demand across the residential market in 2016. This demand is predicted to rise further in 2017, as homeowners realise the benefits of aluminium windows and doors.
When homeowners are considering a property upgrade, a full house of windows is a costly investment. People often opt for the more reasonable option of a replacement front door. A new front door will brighten up your home, improve security, and increase energy efficiency levels.
Composite doors are now the door of choice for many homeowners. They are stronger and more attractive than uPVC alternatives and will last longer than traditional timber with far less maintenance. With a choice of colours, different designs and glazing options, the composite door is predicted to further increase in popularity in 2017 and beyond.
The glazing industry is robust. It is predicted to steadily grow in 2017 alongside the wider UK economy. To find the best installers and companies in the industry visit the CPA. Contact us online for access to our extensive database of industry professionals. Anyone affiliated with the CPA provide IBGs (Insurance Backed Guarantees) on all their products and services.