According to a new market report published by Lucintel, the future of the Canadian siding market looks promising with opportunities in non-residential and residential construction. The Canadian siding market is expected to reach an estimated $4.1 billion by 2027 with a CAGR of 5% from 2022 to 2027. The major growth drivers for this market are increasing construction activities, growing repair and maintenance of building exteriors, and a rise in the hospitality industry.
In this market, vinyl, stucco, brick, fiber cement, wood, concrete and stone, metal, and other materials are used for siding manufacturing. On the basis of comprehensive research, Lucintel forecasts that the vinyl will remain the largest material type over the forecast period due low material and maintenance cost and availability of wide variety of colors.
Within the Canadian siding market, residential will remain the largest as well as fastest end use market during the forecast period due to increasing adoption of energy efficient homes.
Ontario is expected to remain the largest market and witness the highest growth over the forecast period, due to growth in the building and construction industry.
Emerging trends which have a direct impact on the dynamics of the market include unpainted cellular siding for the exterior walls, smooth finish panel sidings, and increasing adoption of siding visualizer. Cornerstone Building Brands, James Hardie, CertainTeed, Louisiana Pacific Corporation, and Royal Building Products are among the major suppliers of sidings.
Lucintel, a leading Canadian strategic consulting and market research firm, has analyzed growth opportunities in the Canadian siding market by material, end use, application, and territory, and has compiled a comprehensive research report entitled “Growth Opportunities in the Canadian Siding Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the Canadian siding market by material, end use, application, and territory, as follows:
By Material [Value ($ Million) from 2016 to 2027]:
Fiber Cement
Vinyl
Metal
Stucco
Concrete and Stone
Brick
Wood
Other Materials
By End Use [Value ($ Million) from 2016 to 2027]:
Residential
Non Residential
Healthcare
Education
Hospitality
Retail
Office
Others
By Application [Value ($ Million) from 2016 to 2027]:
New Construction
Repair and Maintenance
By Territory [Value ($ Million) from 2016 to 2027]:
Quebec
British Columbia
Alberta
Ontario
Others
This 136-page research report will enable you to make confident business decisions in this Canadianly competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier Canadian Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for the Canadian siding market by material (fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and other materials), end use (residential and non-residential (healthcare, education, hospitality, retail, office, and others)), application (new construction and repair and maintenance), and territory (Quebec, British Columbia, Alberta, Ontario, and others)?
Q. 2. Which product segment will grow at a faster pace and why?
Q. 3. Which territory will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?