Siding Market Size, Share, Industry Trends, Growth Rate, Forecast 2023-2028

According to the latest report by IMARC Group, titled "Siding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on siding market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. 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.

What is Siding?

Siding refers to various materials, such as vinyl, wood, fiber cement, or aluminum, used for cladding or covering the exterior of a building. Depending on the user's preferences, they can be applied to both the roof and walls in multiple shapes and styles, including clapboard, shingles, shakes, verticals, and panels. The primary purpose of siding products is to provide a protective layer on the building's exterior, shielding it from wind, rain, snow, and other weather conditions to prevent damage to the structure and interior. They even improve the curb appeal of a building, adding visual appeal and style, and contribute to energy efficiency by providing additional insulation, thereby reducing heating and cooling costs and creating a more comfortable indoor environment. Consequently, siding systems are extensively utilized across the globe.

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What are the growth prospects and trends in the siding industry?

The siding market is primarily driven by the escalating number of construction projects in residential areas, owing to rapid urbanization. Additionally, the surge in renovation and remodeling activities in numerous settings, including homes, hotels, restaurants, airports, offices, shopping malls, cafes, and educational institutions, is fueling the demand for siding as a means to enhance appearance and energy efficiency. Furthermore, the growing occurrence of natural disasters, such as hurricanes, tornadoes, and wildfires, which pose risks to homes, is also positively influencing the need for siding. Apart from this, the rising investments by major manufacturers in research and development (R&D) endeavors to introduce new siding materials and technologies that are more energy efficient, durable, and cost-effective are acting as significant growth-inducing factors. Besides this, the launch of favorable initiatives by government bodies in several countries to promote the adoption of green siding materials that are free from harmful chemicals or toxins, help mitigate indoor moisture levels and reduce carbon emissions is further catalyzing the market growth. Moreover, the elevating number of boutique hotels, which offer ultra-luxury services within relatively smaller establishments and inflating expenditure in hotel construction, are creating a positive market outlook for the future.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• 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

Siding Market Segmentation:

Our report has categorized the market based on region, material, end use and application.

Breakup by Material:
• Fiber Cement
• Vinyl
• Metal
• Stucco
• Concrete and Stone
• Brick
• Wood
• Others

Breakup by End Use:
• Residential
• Non-Residential
o Healthcare
o Education
o Hospitality
o Retail
o Offices
o Others

Breakup by Application:
• New Construction
• Repair and Maintenance

Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
• Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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