Global Siding Market Size By Material(Fibre cement, Vinyl, Concrete & stone), By End Users(Residential, Nonresidential), By Application(New Construction, Repair and rehabilitation), By Geographic Scope And Forecast
Global Siding Market Size By Material(Fibre cement, Vinyl, Concrete & stone), By End Users(Residential, Nonresidential), By Application(New Construction, Repair and rehabilitation), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Siding Market size was valued at USD 120.40 billion in 2021, and it is projected to reach USD 174.9 billion by the end of 2030, growing at a CAGR at a CAGR of 3.81% from 2023 to 2030.Â
Rapid growth in the construction industry has elevated the demand for the siding market worldwide. The requirement for better quality building materials is increasing the growth in the siding market. The Global Siding Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Siding Market Definition
Think of siding as the skin of your house – the stuff you use to cover and protect its outside walls. We're talking about materials like vinyl, stucco, fiber cement, even brick and aluminum! These come in all sorts of shapes and styles – from classic shingles to modern vertical panels, and even traditional clapboard. Not only does siding make your place look good, boosting its aesthetic appeal, but it also acts like a shield against fire and nasty weather. Plus, good siding helps keep your home cozy by improving its thermal efficiency, keeping the temperature just right inside. With more and more buildings popping up everywhere – homes, shops, offices, you name it – the need to protect them from the elements is huge. That's where durable siding comes in, preventing damage and helping to avoid those unwanted heat losses. And because most siding is made with weather-resistant materials, it's becoming a super popular choice for folks everywhere who want to keep their buildings safe and sound. Learn more about siding options.
Furthermore, it can be observed that the siding material serves a very crucial purpose in preventing residential and nonresidential buildings along with their foundations. Besides this, it also enhances the beauty and aesthetics of the buildings which makes them more attractive.
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Siding Market Overview
The siding market definitely took a hit thanks to COVID-19. The global pandemic messed with the import and export of construction materials, which led to some not-so-great trends. But hey, it's not all bad news! The big reason the siding market's doing well is because we're seeing tons of new houses and buildings going up. This high demand for siding materials has really boosted the market, and experts think it'll keep growing. As the population increases, so does the need for homes and offices. People use siding materials worldwide to protect these buildings, and that's a major factor driving the market. Siding materials are popular because they can resist chemicals and weather, but let's be honest, the beauty and attractive look they give buildings also play a big role.
Furthermore, it can be observed that there is a lack of awareness and knowledge about the siding market. It can act as one of the biggest restraints of this market and it can also impede the growth in the siding market. Besides this, safe production of the siding material comes with an extra cost. This factor can also impact the sales revenue in the siding market.
It seems like a lot of companies are putting their energy into making their factories better, improving infrastructure, and really diving into research and development. This helps them keep up with what people want and stay ahead of the game in the siding market, plus it allows them to come up with cool new technologies and products. Because of all this activity, more and more customers are jumping into the siding market! What’s more, the Government is introducing eco-friendly "green" siding materials to help with public infrastructure projects. This is creating even more chances for growth in the market. And, with all the new homes and buildings going up, the siding market is seeing some seriously promising opportunities.
Siding MarketSegmentation Analysis
The Siding Market is segmented by material, end users, application, and region.
It can be analyzed that fiber cement is dominating the market as it is adopted by various mega-construction companies. Fiber cement is used to provide a lavishing look to the buildings and is preferred mostly over the other siding materials. Vinyl is used for modern construction and this segment is also developing followed by concrete & stone, aluminum, and wood.
Siding Market, By End-User
• Residential• Nonresidential
Rapid development in residential buildings is increasing all around the world. however, the nonresidential is dominating segment is dominating the siding market and it is expected to grow more in the forecast period. The non-residential segment includes the development of healthcare, hospitality, education, and commercial buildings.
Siding Market, By Application
• New Construction• Repair and rehabilitation
The new construction segment is dominating the market and accounts maximum share of the siding market. This segment comprises both residential as well as nonresidential construction of buildings. It is also expected to grow more followed by the repair and rehabilitation segment of the siding market.
Siding Market, By Geography
• North America• Europe• Asia Pacific• Middle East and Africa• Latin America
North America has the highest share of the siding market, and it will continue its dominance in the forecast period. The high demand for fiber cement for siding is the biggest driver of the siding market growth in this region. On the other hand, Asia Pacific also reflects lucrative growth in the siding market. The continuously developing requirements for commercial and residential building is increasing the demand for siding materials in this region.
Key Players
The key players in the siding market include Boral Limited, Associated Materials Inc., Alumasc Group Plc., Saint Gobain, Cornerstone Building Brands, Kingspan Group, Ply Gem Industries Inc., Certain Teed Corporation, Alside Inc., Wienerberger AG, and American Building Components.
These companies are focusing on adopting various strategies for rapid expansion, acquisition, partnership, and collaboration to get a competitive edge in the siding market.
Key Developments
• In May 2022, Boral Limited made a strategic partnership with Calix Limited and announced to explore the viability based on capture plant development in Southern Highlands. It can result in creating high-quality products and reducing carbon footprints.
• In December 2022, Building Brands announced a partnership with Dave and Jenny Marrs to offer customized new construction and exclusive remodeling projects for their customers. This partnership can help in offering innovative and versatile building products for their upcoming projects.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Boral Limited, Associated Materials Inc., Alumasc Group Plc., Saint Gobain, Cornerstone Building Brands, Kingspan Group, Ply Gem Industries Inc., Certain Teed Corporation, Alside Inc., Wienerberger AG, and American Building Components.
SEGMENTS COVERED
By Material, By End Users, By Application, and By Geography.
CUSTOMIZATION SCOPE
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