Awning Materials Market

Market Overview

The Global Awning Materials Market Size is expected to grow at a CAGR of approximately around 6% during the forecast period.

An awning is a stretched-out piece of canvas or other material that is used to shade windows and doors from the sun and rain. Its usage has grown as a result of its capacity to filter dangerous UV rays, improve the appearance of the spaces in which it is installed, and need little to no maintenance. The growing popularity of smart awnings, which can be operated by Alexa, a smartphone, and other devices, may be advantageous for the industry. The Awning Company, for instance, developed a smart awning that can be managed remotely using Google Home, Alexa, Android, and OSI gadgets.

More restaurants are opening up all around the globe, which is increasing demand and hastening industry growth. For instance, according to the National Restaurant Association 2020 study, there are more than 15.6 million individuals working in the more than a million restaurants that are functioning in the US. Demand is expected to increase as the tool is used more often to protect cars from the heat and rain in parking lots.

Market Dynamics

Market Drivers

The rising popularity of retractable awnings, which can be opened and closed according on the weather. an increase in demand for awnings from commercial structures including cafés, stores, and restaurants.

Market Restraints

Awning installation and customisation are costly. This may inhibit some clients, especially in residential settings where awning solutions are less common due to expense.

Market Opportunities

Awning makers and suppliers may profit from retrofit and replacement. New and better awning materials are needed to meet these replacement goals as awnings age and deteriorate.

Market Scope

Segmental Analysis

Segmentation By Type

• PC Board

Awnings often employ polycarbonate sheet, also known as PC (polycarbonate) board, because of its robustness, impact resistance, and transparency. It is ideal for outdoor applications because to its exceptional weather resistance and UV protection. PC boards may be made to meet certain awning designs and come in a range of thicknesses.

• Sunshine Board

Sunshine Board is a special sort of polycarbonate material used in awnings. Another name for it is polycarbonate sheet with several walls. Each layer that makes up the inside of the walls is hollow to improve insulation and structural stability. Sunshine boards, which also reduce the intensity of direct sunlight, provide strong light transmission. They are portable and simple to install. They are often used when thermal insulation and light diffusion are necessary.

Segmentation By Application

• Commercial

This section covers awnings used at commercial buildings such as offices, stores, hotels, and restaurants. Businesses may utilize awnings for a number of purposes, including branding, advertising, creating outdoor dining areas, providing shade for patrons, enhancing the appearance of buildings, and weatherproofing entrances. Strong, water-resistant, and flexible commercial awning materials are essential to meet each company's own branding and design requirements.

• Home

This section talks about awnings that are used in residential settings. Awnings are often installed on windows, balconies, patios, decks, and entranceways of homes to offer shade, protect residents from the weather, and enhance the beauty of the building. Materials for residential awnings need to be strong, appealing to the eye, and resistant to exposure to the sun, wind, rain, and other weather elements.

Regional Analysis

The Global Awning Materials Market is segmented by region as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Over the predicted period of 2021–2028, North America is expected to keep a substantial proportion. Building more expensive houses has the tendency to increase product consumption, which is a key driver of market expansion. For instance, in November 2018, USA Today reported that 400,702 more residences had a $1 million or more in value. As the cost of caring for lawns and gardens is expected to rise, more people will use the product to make garden tents and cover nursery plants from the sun and rain. For instance, according to the National Gardening Association, the US is expected to spend more than USD 52.3 billion on lawns and gardens in 2018.

Since there is an increasing demand for the product for usage in hotels, resorts, vacation homes, and other sites, Europe is anticipated to have a significant effect on the industry. For instance, statistics provided by UNWTO.Org predicts that 710 million foreign visitors would visit Europe in 2018. The allure of hosting several events in this area drives up demand for the products required for booth installation. For instance, the European Major Exhibition Centers Association said that in 2019, 2,000 events were held in EMECA locations throughout Europe, with around 400,000 exhibitors.

Key Players

1. Innovative Insulation
2. Sign 2000
3. TMI LLC
4. Duracote Corp
5. Plas Tech

Recent Developments

In March 2019, Perfect Awning announced the launch of its new website, which offers the whole range of Thule awnings at discounted prices and with free shipping.