Outdoor shutters provide protection from extreme weather conditions like storms, hurricanes, excessive sunlight, etc. Their practical benefits have made them increasingly in demand in areas prone to harsh weather conditions.
WILMINGTON, Del. , July 16, 2024 /PRNewswire/ — The outdoor shutters market is projected to reach USD 3.3 billion in 2023. It is expected to grow at a CAGR of 6.8% from 2024 to 2034, and by 2034, the market is expected to reach USD 6.9 billion.
Shutters enhance the appearance and aesthetic value of a building. With an increased interest in home renovation and architectural design, the demand for stylish, customizable shutters is on the rise. Modern outdoor shutters are durable and low maintenance, making them an attractive option for homeowners and businesses, sustaining market demand.
The integration of smart home technology into outdoor shutters, including motorized and remote-controlled options, is a key trend. Advanced features offer convenience and fit into the growing smart home market. Customization is a growing trend, allowing consumers to choose from a variety of colors, materials and designs to suit their specific needs and preferences.
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Vintage and classic shutter designs are making a comeback as part of a wider trend towards nostalgic, timeless interior decor styles. The expansion of the construction industry, especially in emerging markets, is contributing to an increased demand for exterior shutters as part of new building projects.
Key findings of the market report
Collaboration between shutter manufacturers and construction companies or home remodeling contractors creates new sales channels and increases market presence. Seasonal changes and the associated home renovation cycles impact the demand for exterior shutters, especially in regions with pronounced seasonal weather patterns. Increased consumer awareness regarding the benefits of exterior shutters, such as energy savings and increased property values, drives market demand. A growing preference for minimalist and modern design aesthetics is driving the demand for sleek, contemporary shutter styles. An emerging trend is the development of hybrid shutters that combine materials such as wood and composites to improve performance and aesthetics.
Outdoor Shutter Market Report Coverage:
Report Scope
detail
Forecast period?
2024-2034
Base year?
2020-2022
Size in 2023
US$3.3 billion
2034 forecast (value)
US$6.9 billion
Growth Rate (CAGR)
6.8%
number of pages
270 pages
Target segments
By material, product type, application, region, end use
Market trends for outdoor shutters
Of these, by material, the composite shutters segment is expected to stimulate the growth of the outdoor shutters market. Composite shutters are known for their excellent durability and resistance to warping, cracking, and fading. They are designed to withstand harsh weather conditions, making them suitable for outdoor use. Unlike wood, composite shutters require minimal maintenance. They do not require frequent painting or sealing, thus reducing the overall upkeep cost and effort for homeowners. By product type, the plantation shutters segment is expected to expand the market prospects. Plantation shutters are versatile and match a variety of architectural styles, from traditional to contemporary. Their clean, classic lines and wide louver design add a sophisticated touch to any look. The adjustable louvers of plantation shutters allow precise control over light and privacy. Homeowners can tilt the louvers to let in natural light while maintaining privacy, enhancing functionality and appeal.
Global Exterior Shutter Market: Regional Outlook
North America
North America, especially areas such as the Gulf Coast and the southeastern United States, are prone to hurricanes and severe storms. Exterior shutters are in high demand as they provide important protection against these extreme weather conditions. North America has a strong culture of home renovations and remodeling, which has increased the demand for exterior shutters. Homeowners are constantly looking for ways to improve the aesthetics and functionality of their homes, and shutters are a popular upgrade.
Asia Pacific
The booming real estate and construction industry in countries such as China, India and Southeast Asian countries is a major driver. New residential, commercial and hospitality projects often include exterior shutters for their functional and aesthetic benefits. In the Asia Pacific region, there is growing awareness and adoption of home improvement products. Consumers are increasingly aware of the benefits of exterior shutters, including increased security, privacy and aesthetics.
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Outdoor Shutter Market: Key Players
The competitive landscape of the outdoor shutters market is characterized by the presence of several major companies vying for market share.
Each company differs in terms of product offerings, geographical reach, pricing strategies, focus on innovation, etc. The following companies are well-known in the outdoor shutters market:
Timberlane Inc.Royal CorinthianDecorative ShuttersU.S. Shutter CompanyLarson Shutter CompanySouthern Shutter CompanyAtlantic Premium ShuttersShutterLand Exterior Shutters
Major developments
In 2023, Westlake Royal Building Products announced an expansion of its collaboration with US LUMBER and Amerhart, well-known brands under Specialty Building Products (SBP). This expansion includes a variety of products and geographic locations. US LUMBER and Amerhart are well-known distributors of building materials. In 2022, Tucson Rolling Shutters announced plans to build a 14,500 square foot expansion adjacent to its current 12,000 square foot facility in Tucson, USA. The expansion is intended to meet the growing demand for retractable patio screens, especially in the Arizona and Texas regions.
Outdoor Shutter Market Segmentation
material
Wooden shutters, PVC shutters, Aluminum shutters, Composite shutters, Others
Product Type
Plantation Shutter Panels Shutter Louver Shutter Bahama & Bermuda Shutter Board & Batten Shutter Solid Shutter Tier on Tier Shutter Shaker Style Shutter Combination Shutter Others
application
Homeowners Commercial Hotels Industrial Others
End Use
Residential and Commercial Industry
region
North America Latin America Europe Asia Pacific Middle East & Africa
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