Builders and Cabinet Hardware Industry Trends, Growth, Share by 2021

Global Builders and Cabinet Hardware Industry is anticipated to grow at a higher CAGR during the forecast period. Builder’s hardware is a bunch of metal hardware particularly used for decoration, protection and convenience in buildings. Buildings products do not constitute a part of a building in fact they support them & put them to work. For instance, door handles deadbolts, latches, numerals, letter plates, switch plates and door knockers, door hinges are some devices used as building products.

Further, cabinet hardware comprises products such as curtain rings, hooks, curtain finials etc. The products are used to hand curtain at doors, verandas and windows.  Curtain hardware is produced from a variety of resources such as plastics and metals. Aluminum and iron are mostly used for making rings, hooks, rods and poles. From the commercial viewpoint, the global market is expected to witness a tremendous growth during the assessment period.

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Market dynamics such as rising disposable income and need for luxurious materials by residential owners propel the market demand. Also, commercial building owners now emphasize more on hospitality which also yields a higher rate of CAGR in the assessment period. Global builders and cabinet hardware industry is driven by factors such as growing construction activity in several countries worldwide. Additionally, the rising investments in real estate domain and property construction are expected to propel the global market.

Moreover, the rise in construction sector and residential renovations is anticipated to fuel market growth in the forecast period. Global builders and cabinet hardware industry is segmented into steel and brass, based on material type. Based on product type, the global market is segmented into locks, pulls, hinges, brackets, postal and safe deposit boxes. Based on application, the global market is segmented into furniture, safety devices, doors, windows and cabinets. Based on market type, the global builders and cabinet hardware industry is segmented into residential, non-building and non-residential.

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Geographically, the global builders and cabinet hardware industry spans North America, Latin America, Asia-Pacific, Europe, Middle-East and Africa. Asia-Pacific regions dominate the global market owing to rapid urbanization, growing focus on residential and commercial building, rising disposable income and growing standards of living propel the APAC market. North America and European regions hold a significant market share too and is expected that these markets enjoy a higher CAGR growth in the forecast period. The key players in the global builders and cabinet hardware industry include United States Steel, Arcelor Mittal, Allegion Inc, ASSA, ABLOY, Black & Decker, CompX International Inc, Dormakaba Group, Stanley Works, Posco, Baosteel Group, Nippon Steel, SSAB, Voestalpine, Nucor, Tata, Angang Steel, and Hebei Puyong.

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