Siding Market Size Expected to be US $ 118.50 Billion by 2027

According to a recent analysis by Emergen Research, the global siding market size is projected to reach US $ 118.50 billion by 2027, up from US $ 87.26 billion in 2019, with a CAGR of 3.8% by the forecast period. Market growth is being driven by the global increase in housing construction and drastic changes in consumer lifestyles.

Siding offers several advantages in residential applications, including protection from extreme weather conditions, durability, fire protection as well as the improved aesthetics of a building.

The thermal efficiency of siding leads to increased demand for the product. Some of the most efficient and affordable materials for home wall cladding are vinyl, fiber cement, wood, and brick. Vinyl siding are largely homeowners worldwide because of their relative cost effectiveness and durability.

Vinyl siding is constructed and designed primarily from polyvinyl chloride and is useful in building houses. These sidings eliminate the need for maintenance and annual painting. There is a wide variety of types of siding available in the market for residential and non-residential applications. The increasing world population, urbanization trends and the increasing purchasing power of consumers will favor market growth in the forecast period.

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Other key takeaways from the report suggest:

  • On the basis of the application, the aftermarket has been divided into non-residential and residential. The residential segment is expected to hold a majority of the sidings market share and will record a remarkable CAGR of 4.3% by 2027. A changed lifestyle, rapid urbanization and rising per capita income are the key factors that support housing construction.
  • In the regional landscape, North America is expected to contribute significantly to the global revenue share of the siding market by 2027. The increasing consumer inclination to modern furnishings, the availability of inexpensive building materials and strict regulations for the use of sustainable materials become the regional industry size in the analysis period.
  • The APAC market is expected to deliver a CAGR of 6% over the analysis period. The rise in urbanization and industrialization trends, cheap government programs for sustainable development and the growth of the construction sector, and the introduction of government programs for residential and commercial construction are playing a crucial role in the expansion of the regional aftermarket.
  • Key players contributing to the global siding market share are James Hardie Limited Plc, Compagnie de Saint-Gobain SA, Westlake Chemical, Boral Limited, Etex Group, Louisiana Pacific Corporation, Cornerstone Building Brands, Docke Extrusion Co. Ltd, Kingspan Group and Nichiha Company, among others.
  • These industry players pursue various strategies such as acquisitions, mergers, collaborations, new product development and capacity expansion, thereby supporting the overall growth of the market.
  • In January 2019, Westlake Chemical, an international manufacturer and supplier of polymers, petrochemicals and construction products, acquired France-based NAKAN, a PVC compounding solutions company, in January 2019. NAKAN’s products are used in a variety of end-user industries including construction, medical and automotive. This acquisition is intended to better position Westlake Chemical to meet changing consumer demand.

For this report, Emergen Research has segmented the global Cladding Market by application, material type, and region:

  • Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
    • Residential
    • Non-living area
  • Outlook for the material type (turnover: billion USD; volume: million tons; 2017-2027)
    • wood
    • vinyl
    • Fiber cement
    • concrete
    • brick
    • Other
  • Regional outlook (sales: USD billion; volume: million tons; 2017-2027)
    • North America
      1. US
      2. Canada
    • Europe
      1. Russia
      2. United Kingdom
      3. Germany
      4. France
      5. BENELUX
    • Asia Pacific
      1. China
      2. Japan
      3. India
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. United Arab Emirates
      3. Israel
      4. Rest of MEA

For leading market solutions visit the link below:

https://www.emergenresearch.com/industry-report/siding-market

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