Global Siding (Cladding)

Global Siding (Cladding)

Global demand for siding is forecast to rise 1.9% annually through 2024 to 6.6 billion square meters valued at $80.2 billion. Despite weakened global building construction activity due to the COVID-19 pandemic causing siding demand to decline in 2020, the market is expected to rebound quickly in 2021 as case numbers fall, economies reopen, and building activity returns to normal levels. Through 2024, gains will be supported by:

above average growth in nonresidential building construction, the post-pandemic recovery of which is expected to outperform that of the residential segment
rising new home construction, especially in developing Asia/Pacific and Africa/Mideast countries where the share of new homes built with siding is growing
increasing personal incomes, which allow for greater spending on renovation projects such as siding replacement
ongoing introduction of affordable siding products that can be made to resemble high-end materials (e.g., wood, stone) while providing installation and performance advantages

Nevertheless, faster growth in global siding demand will be restrained by market maturity and below average anticipated gains in construction in developed areas of the world – including the US, Japan, and several countries in Western Europe.

Scope of the Report
This study analyzes the global market for siding (cladding). Historical demand (2009, 2014, and 2019) and forecasts for 2024 and 2029 are provided for siding demand by product (in dollars and square meters) and market (in square meters). Siding demand is also provided on a country-by-country basis (in square meters), broken out by both product and market. Demand in value terms is shown at the manufacturers’ level and excludes distributor and retailer markups.

The products covered are:
brick and tile
stucco
concrete and stone
metal
fiber cement
vinyl
wood
exterior insulation and finish systems (EIFS)
other products (including polypropylene and other non-vinyl plastics, wood-plastic composites, cast acrylic, spandrel glass, straw, and mud)

The residential building and nonresidential building segments are analyzed at the global, region, and country levels. Breakouts are provided for new and improvement and repair product demand for both residential buildings (at the global, regional, and country levels) and nonresidential buildings (at the global and regional levels).

The study also provides corporate analysis of the leading global siding suppliers, including market share.

Products excluded from the scope of this study include primary loadbearing walls (of brick, concrete block, poured concrete, or stone) and vision glass curtain wall. Secondary products such as soffit and trim are also excluded.