Canadian Siding Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Canadian Siding Market Trends and Forecast

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 $4.4 billion by 2030, and it is forecast to grow at a CAGR of 3.9% 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.

• 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

Ontario is expected to remain the largest in the Siding Market

1. Canada: Canadian siding market is witnessing growth with companies like CanWel Building Materials Group Ltd., LP Building Solutions, and Royal Building Products leading the way. Government initiatives promoting sustainable construction and energy efficiency drive market expansion. LP Building Solutions recently announced advancements in engineered wood siding technology to meet the demand for eco-friendly and durable materials.

2. United States: US-based siding companies like James Hardie Industries plc, Georgia-Pacific LLC, and CertainTeed Corporation also have a significant presence in the Canadian market. Government initiatives promoting affordable housing and disaster resilience stimulate market growth. James Hardie Industries plc recently announced the introduction of innovative fiber cement siding products tailored for Canadian climate conditions.

3. China: Chinese companies such as Everest Industries Limited and Huahong Group are expanding their presence in the Canadian siding market. Government initiatives promoting international trade and investment drive market expansion. Everest Industries Limited recently announced collaborations to introduce high-quality fiber cement siding products in the Canadian market.

4. Germany: German firms like Knauf International GmbH and BASF SE are also targeting the Canadian siding market. Government initiatives promoting sustainable construction materials and energy efficiency drive market growth. Knauf International GmbH recently announced advancements in gypsum-based siding solutions to meet the demand for innovative and environmentally friendly building materials.

5. Australia: Australian companies such as CSR Limited and Boral Limited are expanding their presence in the Canadian siding market. Government initiatives promoting international trade and investment drive market expansion. CSR Limited recently announced investments in new production facilities to meet the growing demand for fiber cement siding products in Canada.

Emerging Trends in the Siding Market

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.

A total of 75 figures / charts and 60 tables are provided in this 136-page report to help in your business decisions. Sample figures with some insights are shown below.

Canadian Siding Market by Segment

In this market, new construction is the largest application segment, whereas vinyl is the largest material segment. Growth in various segments of the siding market is given below.

The study includes trends and forecast for the Canadian siding market by material, end use, application, and territory, as follows:

Siding Market by Material [Value ($ Million) from 2018 to 2030]:

• Fiber Cement
• Vinyl
• Metal
• Stucco
• Concrete and Stone
• Brick
• Wood
• Other Materials

Siding Market by End Use [Value ($ Million) from 2018 to 2030]:

• Residential
• Non-Residential
• Healthcare
• Education
• Hospitality
• Retail
• Office
• Others

Siding Market by Application [Value ($ Million) from 2018 to 2030]:

• New Construction
• Repair and Maintenance

By Territory [Value ($ Million) from 2018 to 2030]:

• Quebec
• British Columbia
• Alberta
• Ontario
• Others

List of Siding Companies

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 major siding companies profiled in this report include-

• Cornerstone Building Brands
• James Hardie
• CertainTeed
• Louisiana Pacific Corporation
• Royal Building Products

Recent Developments in Siding Market

1. Increased Demand for Energy-Efficient Siding: There's a growing demand in the Canadian siding market for energy-efficient siding materials that help improve insulation and reduce heating and cooling costs. Products such as insulated vinyl siding, fiber cement siding, and engineered wood siding with enhanced thermal performance are gaining popularity among homeowners and builders.

2. Emphasis on Sustainable and Eco-Friendly Materials: Sustainability considerations are driving developments in the Canadian siding market, with a focus on eco-friendly materials such as fiber cement, engineered wood, and recycled vinyl siding. Manufacturers are introducing sustainable siding options with recycled content, low VOC emissions, and long lifespans to meet consumer demand for environmentally responsible products.

3. Technological Advancements in Siding Products: Ongoing research and development efforts are leading to advancements in siding product technology, resulting in materials with improved durability, weather resistance, and aesthetic appeal. Innovations such as advanced coating systems, embossed textures, and color retention technologies enhance the performance and visual appeal of siding products in the Canadian market.

4. Focus on Maintenance-Free Solutions: Homeowners in Canada are increasingly seeking low-maintenance siding solutions that require minimal upkeep and provide long-term durability. Vinyl siding, fiber cement siding, and composite siding products with low maintenance requirements, such as easy cleaning and resistance to rot, pests, and weathering, are preferred choices in the Canadian market.

5. Expansion of Design Options: Siding manufacturers are expanding their product offerings to provide a wide range of design options to consumers in the Canadian market. Products such as vinyl siding, fiber cement panels, and engineered wood siding come in various colors, textures, profiles, and finishes to suit different architectural styles and aesthetic preferences.

6. Market Response to Weather Extremes: The Canadian siding market is adapting to climate challenges, including extreme cold, heavy precipitation, and UV exposure. Siding materials with high resistance to moisture, freeze-thaw cycles, and UV degradation are in demand to ensure long-term performance and protection against Canadian weather conditions.

Features of Canadian Siding Market

• Market Size Estimates: Canadian siding market size estimation in terms of value ($M) shipment.
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and territories.
• Segmentation Analysis: Canadian siding market size by various segments, such as material, application, end use, and territories in terms of value.
• Regional Analysis: Canadian siding market breakdown by Quebec, British Columbia, Alberta, Ontario, and others.
• Growth Opportunities: Analysis on growth opportunities in different materials, applications, end uses, and territories of the Canadian siding market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Canadian siding market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the siding market size?

Answer:The Canadian siding market is expected to reach an estimated $4.4 billion by 2030.

Q2. What is the growth forecast for siding market?

Answer:The siding market is expected to grow at a CAGR of 3.9% 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 unpainted cellular siding for the exterior walls, smooth finish panel sidings, and increasing adoption of siding visualizer.

Q6. Who are the key siding companies?

Answer:Some of the key siding companies are as follows:

• Cornerstone Building Brands
• James Hardie
• CertainTeed
• Louisiana Pacific Corporation
• Royal Building Products

Q7.Which will be the largest siding material segment in the future?

Answer: 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.

Q8: In siding market, which territory is expected to be the largest in next 5 years?

Answer:Ontario is projected to be the largest territory 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 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 segments 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 and challenges of the Canadian siding market?

Q.5 What are the business risks and threats to the Canadian siding market?

Q.6 What are emerging trends in this Canadian siding market and the reasons behind them?

Q.7 What are some changing demands of customers in the Canadian siding market?

Q.8 What are the new developments in the Canadian siding market? Which companies are leading these developments?

Q.9 Who are the major players in the Canadian 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 Canadian 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 Canadian siding market?

Please note: It will take 2-3 business days to deliver the report upon receipt the order.