Siding Market Trends and Forecast
The future of the global siding market looks promising with opportunities in residential and non-residential construction. The global siding market is expected to reach an estimated $150 billion by 2030 with a CAGR of 3% from 2024 to 2030. 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.
Siding is manufactured from various raw materials depending on the type. Vinyl siding primarily uses polyvinyl chloride (PVC) resin, along with stabilizers, pigments for color, and optional additives such as titanium dioxide for UV protection. Wood siding utilizes cedar, pine, or treated wood species, often coated with weather-resistant finishes. Fiber cement siding combines cement, cellulose fibers (like wood pulp), sand, and additives to enhance durability and fire resistance. Metal siding typically involves aluminum or steel sheets, coated with zinc or polyester paints for corrosion protection and color. Composite siding blends recycled materials like wood fibers, plastics, and binders to create a durable, eco-friendly alternative with customizable aesthetics. The price of siding can vary significantly depending on the material and brand..
• Lucintel forecasts that vinyl will remain the largest material type segment over the forecast period due low material and maintenance cost and availability of wide variety of colors.
• Within the global siding market, non-residential will remain the largest end use segment during the forecast period due to growth in retail and office buildings. Residential construction is expected to witness the highest growth during the forecast period due to increasing adoption of energy efficient homes.
• Asia Pacific is expected to remain the largest market and witness the highest growth over the forecast period, supported by increasing urbanization and building construction activities.
Country Wise Outlook for the Siding Market
The siding market is indeed experiencing significant growth globally, fueled by increased demand from various industries such as residential and non-residential construction. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major siding market producers in key regions: the USA, Canada, Australia, Brazil, and Germany.
Emerging Trends in the Siding Market
Emerging trends in the siding market shaping its future applications and market dynamics:
• Sustainability: Increasing demand for eco-friendly materials and manufacturing processes, such as recycled content and energy-efficient production methods.
• Technological Integration: Integration of smart technology into siding products, including options for energy monitoring, insulation efficiency, and even interactive designs.
• Customization: Growing consumer preference for customizable siding options, allowing for unique aesthetics and personalized designs.
• Durability and Maintenance: Rising interest in low-maintenance siding materials that offer enhanced durability against weather elements, reducing long-term upkeep costs.
• Architectural Versatility: Expansion of siding options that mimic natural textures like wood or stone, alongside modern finishes and colors to complement diverse architectural styles.
A total of less than 200 pages has been developed to help in your business decisions. Sample figures with some insights are shown below.
Recent Developments by the Siding Market Suppliers
Recent developments in siding by various companies highlight ongoing innovations and advancements across different sectors:
1. Product Innovation: Gentek Building Products launched a new line of energy-efficient, insulated siding to meet growing demand for eco-friendly home improvements.
2. Manufacturing Expansion: CertainTeed announced plans to expand its manufacturing capacity to improve supply chain efficiency and meet increasing market demand.
3. Mergers and Acquisitions: Kaycan was acquired by Saint-Gobain, enhancing its market presence and expanding product offerings in North America.
4. Technological Advancements: James Hardie introduced advanced fiber cement siding with enhanced durability and weather resistance, catering to both residential and commercial applications.
5. Sustainability Initiatives: Several companies, including LP Building Solutions, have committed to sustainable practices, such as using recycled materials and reducing carbon footprints in their production processes.
Strategic Growth Opportunities for Siding Market
The siding market is very dynamic due to its unique properties of being durability and longevity, cost-effectiveness and versatility . Some key strategic growth opportunities for this market include:
1. Sustainable Products: Developing and marketing eco-friendly and energy-efficient siding options to cater to the increasing demand for sustainable building materials.
2. Technological Innovations: Investing in advanced manufacturing technologies to create more durable, weather-resistant, and aesthetically versatile siding products.
3. Geographic Expansion: Entering new markets or expanding presence in under-served regions to capture a larger customer base and increase market share.
4. Customization and Personalization: Offering customizable siding options to meet diverse consumer preferences and enhance customer satisfaction.
5. Partnerships and Collaborations: Forming strategic alliances with builders, contractors, and distributors to streamline supply chains, reduce costs, and improve market reach.
6. Digital Marketing and E-commerce: Leveraging online platforms and digital marketing strategies to increase brand visibility, educate consumers, and drive sales.
Siding Market Driver and Challenges
Siding has a very important role in various residential and commercial constructions. The factors responsible for driving the siding market include:
1. Increasing Construction Activities: Growth in residential and commercial construction projects boosts demand for siding materials.
2. Renovation and Remodeling Trends: HomeownersÄX%$%X focus on upgrading and renovating their properties drives the demand for new and improved siding options.
3. Energy Efficiency and Sustainability: Rising awareness and regulatory requirements for energy-efficient and sustainable building materials propel the adoption of eco-friendly siding products.
4. Technological Advancements: Innovations in siding materials and installation techniques enhance durability, aesthetics, and performance, attracting more consumers.
5. Urbanization and Population Growth: Expanding urban areas and increasing population spur the need for new housing and infrastructure, leading to higher siding demand.
6. Government Initiatives and Incentives: Supportive government policies and incentives for green building practices and energy-efficient materials encourage the use of advanced siding solutions.
Challenges facing the siding market are:
1. Raw Material Costs: Fluctuations in the prices of raw materials like wood, vinyl, and metal can impact production costs and pricing strategies.
2. Environmental Regulations: Strict environmental regulations and sustainability requirements can increase production costs and necessitate significant investments in eco-friendly technologies.
3. Market Competition: Intense competition among manufacturers can pressure profit margins and make it challenging to maintain market share.
4. Labor Shortages: A shortage of skilled labor for installation and manufacturing can lead to delays and increased labor costs.
Innovations in material science and manufacturing processes have led to a strong demand for siding. There have been unique developments such as advanced formulations have enhanced sidingÄX%$%Xs durability, flexibility, and resistance to chemicals, expanding its application in diverse industries from construction to telecommunications. Innovations in the siding market include the development of energy-efficient insulated siding and the integration of smart technologies for real-time monitoring of siding performance and durability. Additionally, advanced materials like fiber cement and engineered wood are enhancing durability, aesthetics, and sustainability.
Siding Suppliers and their Market Shares
In this globally competitive market, several key players such as Kingspan, James Hardie, Nichiha, Ply Gem, etc. dominate the market and contribute to industry’s growth and innovation. These players capture maximum market share. To know the current market share of each of major players us by email at helpdesk@lucintel.com. If you wish to deep dive in competitive positioning of these players then you can look into our other syndicated market report on “Siding Leadership Report".
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies siding companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the siding companies profiled in this report includes.
• Valmont Industries
• Kingspan
• James Hardie
• Nichiha
• Ply Gem
• Louisiana Pacific
• Georgia Pacific Vinyl Siding
• Revere Building Products
• Lixil Group Corporation
These companies have established themselves as leaders in the siding industry, with extensive product portfolios, global presence, and strong research and development capabilities. They continually strive to enhance their market positions through strategic partnerships, mergers and acquisitions, and product innovations.
The market share dynamics within the siding market are evolving, with the entry of new players and the emergence of innovative siding technologies. Additionally, collaborations between material suppliers, manufacturers, and end-users are fostering technological advancements and expanding market opportunities.
Siding Market by Segment
Major segments of the siding market experiencing growth include vinyl siding, valued for its cost-effectiveness, durability, and low maintenance requirements, appealing widely to residential and commercial applications. Fiber cement siding is also expanding due to its durability, fire resistance, and ability to mimic the appearance of natural materials like wood or stone. Additionally, there is a growing demand for energy-efficient siding solutions, driven by environmental concerns and the desire for improved home insulation and energy savings. Smart siding products incorporating technological advancements such as sensors for climate control and moisture detection are also gaining momentum, catering to the increasing interest in smart home features.
This siding market report provides a comprehensive analysis of the marketÄX%$%Xs current trends, growth drivers, challenges, and future prospects in all major segments like above. It covers various segments, including material and end use. The report offers insights into regional dynamics, highlighting the major markets for siding and their growth potentials. The study includes trends and forecast for the global siding market by material, end use, and region, and region, as follows:
Siding Market by Material [Volume (Million Square Feet) and $M for 2018 to 2030]:
• Fiber Cement
• Vinyl
• Metal
• Stucco
• Concrete and Stone
• Brick
• Wood
• Other
Siding Market by End Use [Volume (Million Square Feet) and $M from 2018 to 2030]:
• Residential
• Non-Residential
o Healthcare
o Education
o Hospitality
o Retail
o Office
• Others
Siding Market By Application [$M shipment analysis for 2018 to 2030]:
• New Construction
• Repair and Maintenance
Siding Market By Region [Volume (Thousand Tons) and $M shipment analysis from 2018 to 2030]:
• North America
o United States
o Canada
o Mexico
• Europe
o Germany
o France
o United Kingdom
• APAC
o China
o India
o Japan
• ROW
o Brazil
o UAE
Features of Global Siding Market
• Market Size Estimates: Global siding market size estimation in terms of value ($M) and Volume (Million Square Feet) shipment.
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Global siding market size by various segments, such as material, application, end use, and regions in terms of value.
• Regional Analysis: Global siding market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different materials, applications, end uses, and regions of the global siding market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the global siding market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in siding markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the siding market size?
Answer: The global siding market is expected to reach an estimated $150 billion by 2030.
Q2. What is the growth forecast for siding market?
Answer: The siding market is expected to grow at a CAGR of 3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the siding market?
Answer: 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.
Q4. What are the major applications or end use industries for siding?
Answer: Residential and non-residential are the major end use industries for siding.
Q5. What are the emerging trends in the siding market?
Answer: Emerging trends which have a direct impact on the dynamics of the market include increasing demand for eco-friendly siding materials and integration of smart technologies in siding are among the major suppliers of sidings.
Q6. Who are the key siding companies?
Answer: Some of the key siding companies are as follows:
• Kingspan
• Valmont Industries
• James Hardie
• Nichiha
• Ply Gem
• Louisiana Pacific
• Georgia Pacific Vinyl Siding
• Revere Building Products
• Lixil Group Corporation
Q7.Which will be the largest siding material segment in the future?
Answer: Lucintel forecasts that vinyl will remain the largest material type segment over the forecast period due low material and maintenance cost and availability of wide variety of colors.
Q8. In siding market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is projected to be the largest region and witness the highest growth over the next 5 years.
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions
Q1 What are some of the most promising, high-growth opportunities for the global siding market by material (fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and others), end use (residential and non-residential), application (new construction and repair and maintenance), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the global siding market?
Q.5 What are the business risks and threats to the global siding market?
Q.6 What are emerging trends in this global siding market and the reasons behind them?
Q.7 What are some changing demands of customers in the global siding market?
Q.8 What are the new developments in the global siding market? Which companies are leading these developments?
Q.9 Who are the major players in the global siding market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the global siding market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the global siding market?
For any questions related to siding market or related to siding companies, siding market size, siding market share, siding e analysis, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.