Siding Market Overview With Detailed Analysis 2022-2028

According to Precision Business Insights (PBI), the latest report, the market value of the siding market is expected to be valued at USD 112.5 billion in 2022 which is expected to grow at a CAGR of 4.3% over 2022-2028. The primary factors that drive the market are increasing non-residential and residential buildings and construction activities, their high toughness, and the longing to recover the aesthetic appearance of the building.

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Fiber to Dominate the Siding Market:
Based on material type, fiber holds the highest market share. The major factor for the rise of this segment is that they are mostly utilized for siding applications such as in residential and non-residential constructions and can last for a long period of time. The fiber when mixed with cement makes it tougher and more robust. It also stops cracks from seeming on the surface. These properties can drive the global siding market growth.

North America Siding Market:
North America leads the global siding market growth due to the rising danger of the dangerous environment, which can mutilate homes and buildings. North America leads the global market due to entrenched research infrastructure, increasing funding from public and private sectors, and rising collaborations among global key players have contributed to increasing the sales of siding in this region. Apart from this, the major factor that drives the market in this region is the demand for tough siding materials, which can withstand chemical exposure, weathering, and deterioration.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Siding market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In April 2021, Diamond Hill Plywood launched a new siding product that uses carpet fiber to make a pre-painted synthetic product. In August 2022, the manufacturer of the innovative wood alternative ACRE, Modern Mill, expanded its product portfolio.

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The siding market is segmented based on, product type, material type, application, and region.
Based on the product type, the market is segmented into the following:
• Vertical Board Siding
• Horizontal Lap Siding
• Clapboard
• Shingles
• Others

Based on the material type, the market is segmented into the following:
• Vinyl
• Fiber
• Wood
• Stone
• Others

Based on the application type, the market is segmented into the following:
• Residential
• Commercial
• Others

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players' profiles in the siding market report are Compagnie de Saint-Gobain S.A, Westlake Chemical, Louisiana Pacific Corporation, Etex Group, Boral Limited, James Hardie Industries PLC, Nichiha Corporation, Cornerstone Building Brands, SHERA, and Docke Extrusion Co. Ltd.

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