Siding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Siding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global siding market size reached US$ 97.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 123.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028. The increasing construction projects, rising number of remodeling activities, and the growing instances of natural disasters represent some of the key factors driving the market.

Siding refers to the exterior cladding or covering of a building made from materials, such as vinyl, wood, fiber cement, or aluminum. Its installation involves several steps, including preparing the exterior of the building, installing the siding panels, and adding finishing touches like trim and caulking. It is applied to the roof and walls in different shapes and styles like clapboard, shingles, shakes, verticals, and panels, depending on the requirements of the user. It assists in providing a protective layer on the exterior of a building and shielding it from wind, rain, snow, and weather conditions to prevent damage to the structure and interior of the building. It also enhances the curb appeal of the building, adding visual interest and style. It improves the energy efficiency of a building by providing additional insulation, reducing heating and cooling costs and making the building more comfortable.

Siding Market Trends:

Increasing construction projects in residential areas on account of rapid urbanization and inflating income levels represent one of the major factors driving the demand for siding around the world. Moreover, rising renovation and remodeling in homes, hotels, restaurants, airports, offices, shopping malls, cafes, and educational institutions is catalyzing the demand for siding to improve the appearance and energy efficiency of the place. In addition, the growing instances of natural disasters, such as hurricanes, tornadoes, and wildfires, that can cause damage to homes are influencing the demand for siding. Apart from this, key players are extensively investing in research and development (R&D) activities to introduce new siding materials and technologies that are more energy efficient, durable, and cost effective. Furthermore, due to increasing environmental concerns, governing agencies of numerous countries are undertaking initiatives to promote the adoption of green siding materials and reduce carbon emissions. These materials do not contain harmful chemicals or toxins that can emit gas into indoor air and help reduce indoor moisture levels. Besides this, there is a rise in the number of boutique hotels, which are relatively smaller than traditional hotels but offer ultra-luxury services. This, coupled with significant growth in the travel and tourism industry and the growing investments in the construction of hotels, is creating a positive outlook for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global siding market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on material, end use and application.

Material Insights:

Fiber Cement
Vinyl
Metal
Stucco
Concrete and Stone
Brick
Wood
Others

The report has provided a detailed breakup and analysis of the siding market based on the material. This includes fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and others. According to the report, fiber cement represented the largest segment.

End Use Insights:

Residential
Non-Residential

Healthcare
Education
Hospitality
Retail
Offices
Others
 

A detailed breakup and analysis of the siding market based on the end use has also been provided in the report. This includes residential and non-residential (healthcare, education, hospitality, retail, offices, and others). According to the report, residential accounted for the largest market share.

Application Insights:

New Construction
Repair and Maintenance

The report has provided a detailed breakup and analysis of the siding market based on the application. This includes new construction and repair and maintenance.

Regional Insights:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. According to the report, North America was the largest market for siding. Some of the factors driving the North America siding market included product innovations, rising renovation activities, R&D projects, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global siding market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Boral Limited, Georgia-Pacific Wood Products LLC, James Hardie Building Products Inc., Kingspan Group, Nichiha USA Inc., Louisiana-Pacific Corporation, Döcke Extrusion LLC, Alumasc Group PLC, Ply Gem Industries Inc., Knauf Gips KG, Etex Group, Lixil Group Corporation, ROCKWOOL Group, C. & S. Cladding (Wales) Limited T/A National Cladding Wales, Revelstone Cape (Pty) Ltd, Wienerberger AG, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

What was the size of the global siding market in 2022?
What is the expected growth rate of the global siding market during 2023-2028?
What are the key factors driving the global siding market?
What has been the impact of COVID-19 on the global siding market?
What is the breakup of the global siding market based on the material?
What is the breakup of the global siding market based on the end use?
What are the key regions in the global siding market?
Who are the key players/companies in the global siding market?