Press release
Siding Market Set to Reach USD 98.56 Billion by 2032: Global Insights
Siding Market
The global siding market is projected to grow from USD 69.84 billion in 2024 to USD 98.56 billion by 2032, registering a CAGR of 4.4% during the forecast period . This growth is driven by increasing residential and commercial construction activities, rising demand for energy-efficient buildings, and the adoption of durable and aesthetic siding materials.
Fiber cement siding dominates the market due to its durability, fire resistance, and low maintenance requirements. Vinyl and wood sidings are also gaining popularity for their aesthetic appeal and cost-effectiveness.
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Competitive Landscape
The siding market is characterized by the presence of several key players focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market positions. Notable companies include James Hardie Industries PLC, Louisiana-Pacific Corporation, Boral Limited, Etex Group, Nichiha Corporation, and Cornerstone Building Brands.
For instance, James Hardie Industries secured a six-year exclusive deal with David Weekley Homes, one of the largest privately held home builders in the U.S., positioning its fiber cement products as the preferred choice in single-family housing.
Regional Insights
United States: Growth and Consolidation
The U.S. siding market is experiencing steady growth, driven by increasing residential construction and renovation activities. According to the National Association of Home Builders, more than 68% of Americans use siding as a design tool for their homes, owing to its affordability and quality.
Mergers and acquisitions are prominent in the U.S. market. For example, Cornerstone Building Brands has been actively acquiring companies to expand its product portfolio and market reach.
Asia Pacific: Opportunities and Trends
The Asia Pacific region is projected to expand at the most rapid growth rate of 6.4% during the forecast period . Rapid urbanization, growth in the construction sector, and the launch of sustainable development schemes have played vital roles in this growth. Countries like China, India, and South Korea are leading the demand, with South Korea expected to register the highest CAGR from 2023 to 2030.
The region is witnessing increased adoption of fiber cement siding due to its durability and aesthetic appeal. Companies like Nichiha Corporation and Boral Limited are expanding their presence in the region to capitalize on the growing demand.
Middle East and Africa: Growth and Updation
The Middle East and Africa (MEA) siding market is witnessing steady growth, driven by increasing construction activities and the adoption of modern building materials. Countries like Saudi Arabia, the UAE, and South Africa are investing in infrastructure development, leading to higher demand for siding materials.
The region is also focusing on sustainable construction practices, prompting the adoption of energy-efficient siding materials. Companies are exploring opportunities to introduce innovative siding solutions tailored to the region's climatic conditions.
Europe: Trends and Consolidation
Europe holds a significant share of the global siding market, with countries like Germany, France, the UK, and Italy leading the demand . The emphasis on energy-efficient buildings and stringent building codes are driving the adoption of advanced siding materials.
The region is witnessing consolidation among key players, with companies focusing on expanding their product portfolios and enhancing service offerings. For instance, Etex Group has been actively acquiring companies to strengthen its market position in Europe.
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Recent Developments
James Hardie Industries secured a six-year exclusive deal with David Weekley Homes, enhancing its presence in the U.S. single-family housing market .
Cornerstone Building Brands has been expanding its market reach through strategic acquisitions and partnerships.
Boral Limited is focusing on product innovation and expanding its presence in the Asia Pacific region to meet the growing demand for siding materials.
Siding Market Segmentation:
by Material
Fiber Cement
Wood
Vinyl
Aluminium
Others
by End User
Non Residential
Residential
by Type
Vertical board siding
Horizontal lap siding
Clapboard
Shingles
Others
The siding market is separated by material, including fibre cement, vinyl, wood, and aluminium. Due to a number of factors, including the growing global use of fibre cement by large construction businesses, the fibre cement category is now leading the market. Additionally, fibre cement's aesthetic effect on homes and its widespread application in business buildings to achieve opulence in building appearances are the main drivers of market expansion. The main characteristic of fibre cement that lowers the possibility of a fire in the walls, even if it has mesh in the timber framework, is its lack of combustibility.
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Siding Market Major Players:
1. Alumasc Group Plc
2. Associated Materials, Inc.
3. Alside, Inc.
4. Gentek Building Products Inc.
5. BlueScope
6. Boral Limited
7. Certain Teed Corporation
8. Designer Panel Systems
9. Etex
10.Forterra Building Products Limited
11.Georgia-Pacific Corporation
12.James Hardie Industries PLC
13.Kaycan Ltd.
14.Kingspan Panels
15.LIXIL Group Corporation
16.Louisiana-Pacific Corporation
17.NCI Building Systems
18.American Building Components
19.Metal Building Components Inc.
20.National Cladding Wales Ltd.
21.Nichiha Corporation
22.Palagio Engineering Srl
23.Peter L. Brown Co.
24.Ply Gem Holdings, Inc.
25.Royal Building Products
26.Ruukki Construction
27.Sto Corp.
28.Toray ACE Co. Ltd.
29.Wienerberger AG
Key Questions Addressed:
What are the key factors driving and restraining the Siding Market?
What is the current Market size and what is the projected Market size by 2032?
Which regions offer the most lucrative opportunities for Siding?
Who are the leading players in the Siding Market and what are their competitive strategies?
What are the emerging trends shaping the future of the Siding Market?
Want to understand the market better? Check out the summary of the research report for key insights: https://www.maximizemarketresearch.com/market-report/global-siding-market/33658/
Key Offerings:
Historical Market Data and Competitive Landscape: Provides a baseline for understanding Market evolution.
Historical Pricing Trends and Regional Price Analysis: Offers insights into pricing dynamics and regional variations.
Market Size, Share, and Forecast by Segment: Provides detailed projections for each segment, allowing for targeted planning.
Market Dynamics (Drivers, Restraints, Opportunities, and Trends) by Region: Offers a nuanced understanding of regional Market dynamics.
In-depth Market Segmentation with Sub-segments and Regional Analysis: Enables precise Market targeting.
Competitive Landscape with Key Player Profiles and Strategic Analysis by Region: Provides insights into competitive dynamics.
Competitive Benchmarking of Key Players by Region: Facilitates competitive analysis.
Comprehensive PESTLE Analysis: Examines the political, economic, social, technological, legal, and environmental factors impacting the Market.
Porter's Five Forces Analysis: Assesses the competitive intensity and attractiveness of the Market.
Value Chain and Supply Chain Analysis: Provides insights into the flow of goods and services within the Market.
Legal and Regulatory Landscape by Region: Offers guidance on navigating regulatory complexities.
Identification of Lucrative Business Opportunities with SWOT Analysis: Helps identify potential areas for investment and growth.
Strategic Recommendations: Provides actionable insights for decision-making.
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