The Global Siding Market is expected to be valued at USD 118.50 Billion in 2027 from USD 87.26 Billion in 2019, registering a CAGR of 3.8% through the forecast period. Significant factors contributing to the expansion of the industry are changing lifestyles of the consumers, growing attraction for modern décor, and augmenting population across the world. Vinyl siding is the most preferred and inexpensive siding materials preferred by house owners worldwide. If appropriately maintained, vinyl siding can last for a more extended period. Vinyl siding is primarily made from polyvinyl chloride resin and is exceptionally beneficial in house constructions and does not necessitate the need for annual maintenance and painting.
The enhanced durability, versatility, cost-efficiency, and easy installation of the siding is further bolstering the market growth. The availability of various sidings such as wood, vinyl, concrete, and fiber cement, is additionally gaining traction from the consumers. This, in turn, boosting the adoption of the sidings and contributing to the expansion of the industry.
The market is projected to remain highly competitive and fragmented over the projected timeframe owing to the presence of numerous SMEs and large organizations. The exponential growth of the siding market over the last decade has paved the way for the emergence of new players and the advent of lucrative opportunities in the market. The augmenting demand for novel siding, modern home décor, and a diverse product portfolio is projected to further boost the market’s growth in theestimated timeframe.
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Key Highlights from the Report:
- The residential sub-segment is foreseen to register a significantly high CAGR of 4.3% during the estimated timeframe owing to the rapid urbanization, growing levels of disposable income and per capita income, the growing trend of home décor, and changing lifestyle of the consumers is boosting the segment’s growth.
- Since 1990, the emissions of human-based dioxin have reduced by more than 90%, according to a report by the U.S. Environmental Protection Agency (EPA). While on the other hand, the production of vinyl, specifically vinyl siding, has increased exponentially.
- North America is projected to command the market growth during the estimated timeframe, expanding at a significantly high CAGR. Several factors such as growing inclination towards modern décor, rapid availability of cost-efficient materials, and the stringent regulations implemented by the statutory bodies are bolstering the growth of the regional market. The regional market is projected to be dominated by the United States.
- Major companies operating in the market include James Hardie Limited Plc, Boral Limited, Docke Extrusion Co. Ltd, Kingspan Group Westlake Chemical, Cornerstone Building Brands, Etex Group, Compagnie de Saint-Gobain S.A., Nichiha Corporation, and Louisiana Pacific Corporation.
- In 2019, Westlake Chemical gained a controlling stake in NAKAN, a French PVC compounding solutions company. The latter’s products are extensively used in several industry verticals such as the automotive industry, medical sector, and building and construction industry.
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For the purpose of this report, Emergen Research has segmented the Global Siding Market on the basis of application, material type, and region:
Application Outlook (Volume, Million Metric Tons; Revenue, USD Billion; 2017–2027)
Material Type Outlook (Volume, Million Metric Tons; Revenue, USD Billion; 2017–2027)
- Fiber Cement
Regional Outlook (Volume, Million Metric Tons; Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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