Global Siding Market – Industry Trends and Forecast to 2029

Global Siding Market, By Material Type (Fiber Cement, Vinyl, Metal, Stucco, Concrete and Stone, Brick, Wood, Others), Application (New Construction, Repair and Maintenance), End User (Residential, Healthcare, Education, Hospitality, Retail, Offices, Others) – Industry Trends and Forecast to 2029

Siding Market Analysis and Size

Over the last few years, the siding industry has grown significantly around the world due to the demand for high quality building materials in a variety of residential and nonresidential structures, including offices, institutions and commercial buildings. Furthermore, wood and vinyl siding are more commonly employed in current building rather than the more conventional aluminum siding. These factors further accelerate the market expansion over the forecasted timeline.

Global siding market was valued at USD 107.65 million in 2021 and is expected to reach USD 154.27 million by 2029, registering a CAGR of 4.60% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Siding Market Scope and Segmentation

Market Definition

Siding is called the protective material used in the outer wall to shield the building from the sun, wind, and rain. It keeps the building's temperature stable and stops heat loss. There are numerous siding options on the market, including clapboard, shingles, and horizontal lap and vertical board siding. Their siding enhances buildings' architectural splendor. According to the type of material used, siding can be divided into several categories, including wood, vinyl, stone, fiber, and composite siding. It is referred to as cladding material on the outer wall of large structures and is used as a weatherproofing and decorative material. Residential buildings and studio apartments are in strong demand for these siding materials.

Siding Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• High Usage of Siding

The siding industry has grown significantly around the world due to the demand for high quality building materials in a variety of residential and nonresidential structures, including offices, institutions, and commercial buildings. Furthermore, wood and vinyl siding are more commonly employed in current building rather than the more conventional aluminum siding. In order to enhance the texture and architectural beauty of tiny flats and residential buildings, siding is placed on them. It is utilized as a material that is resistant to fire, corrosion and the elements. It is sturdy and long-lasting and is utilized to strengthen the external wall's framework and length of service. The siding materials used to stop water and moisture from entering the walls are clapboard and shingles. The demand for siding materials that can withstand chemical exposure and be utilized as weatherproofing materials to withstand changing weather conditions is rising in the construction industry.

Furthermore, the growing income of people will further propel the growth rate of siding market. Additionally, the growing trend of using siding material to increase the buildings' beauty will also drive market value growth. The market for siding, particularly wood and fiber siding, is being driven by a growth in the population and rapid urbanization globally.

Opportunities

• Government Initiatives and Introduction of Green Siding Materials

Furthermore, the government initiatives for the development of public infrastructure further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the introduction of green siding materials will further expand the future growth of the siding market.

Restraints/Challenges

• Lack Of Awareness

The lack of awareness about the siding material will create hindrances for the growth of the siding market.

• Negative Impact of COVID-19

The global epidemic has led to an increase in restrictions, which has hurt both supply and demand. Additionally, the fluctuating cost of raw materials will be detrimental to the siding business. Therefore, this will challenge the siding market growth rate.

This siding market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the siding market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Siding Market

The recent outbreak of coronavirus had a negative impact on the siding market due to the government-imposed lockout and poor demand from the building industries. The coronavirus has impacted construction material imports and exports. The world's top exporter of building supplies is China. Global import and export are expected to decline as a result of China's economy's negative tendencies. Since the corona epidemic in December 2019, the demand for new building materials has drastically decreased as manufacturers and investors worry about an abnormally slowing economy. International travel restrictions have an impact on the commerce in building materials. As a result, the global supply and demand for building materials have nearly completely stopped.

The manufacturers of construction supplies are the ones who are most harmed by the viral epidemic due to the lockdown and lack of logistics globally. The government-issued directives for house quarantine are the main obstacle for the worldwide market for construction materials since they have forced manufacturers to stop making those products. Construction material sales have decreased and slowed down globally throughout the course of the current economic year as a result of decreased consumer demand and consumption. As a result, in 2020, a negative impact is anticipated on the siding industry.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Siding Market Scope

The siding market is segmented on the basis of material type, end user and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material Type

• Fiber Cement
• Vinyl
• Metal
• Stucco
• Concrete and Stone
• Brick
• Wood
• Others

Application

• New Construction
• Repair and Maintenance

 End User

• Residential
• Healthcare
• Education
• Hospitality
• Retail
• Offices
• Others

Siding Market Regional Analysis/Insights

The siding market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.

The countries covered in the siding market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement siding within the region.

Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement siding market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Siding Market Share Analysis

The siding market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to siding market.

Some of the major players operating in the siding market are

• Saint-Gobain (France)
• Westlake Chemical Corporation (U.S.)
• Louisiana Pacific Corporation (U.S.)
• Etex Group (Belgium)
• Boral (Australia)
• Georgia-Pacific (U.S.)
• James Hardie Industries Plc (Ireland)
• Kingspan Group (Ireland)
• NICHIHA Co.,Ltd  (Japan)
• Cornerstone Building Brands (U.S.)
• SHERA (Thailand)
• Mapei S.p.A (Italy)
• MUHU (China)Construction Materials Co., Ltd. (China)
• Holcim (Switzerland)
• Döcke Extrusion LLC (Russia)