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Siding Market - By Material Type (Vinyl Siding, Fiber Cement Siding, Wood Siding, Metal Siding, Engineered Wood Siding), By Type, By Application, By End-use & Forecast, 2024 – 2032

  • Report ID: GMI6747
  • Published Date: Sep 2023
  • Report Format: PDF

Siding Market Size

Siding Market size was valued at around USD 121.3 billion in 2023 and is anticipated to grow at a CAGR of 5% between 2024 and 2032. Rapid urbanization and population growth drive the demand for new residential and commercial buildings, leading to increased demand for siding materials. Renovation and remodeling projects require replacement or upgrading of existing siding, contributing to demand for new siding materials.
 

Siding Market

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Siding materials play a significant role in enhancing the visual appeal and curb appeal of buildings, driving choices based on design and style preferences. Homeowners and builders prioritize siding materials that offer durability and can withstand harsh weather conditions, reducing the need for frequent maintenance and replacements.

 

Maintaining consistent quality across different siding materials and manufacturers can be challenging, leading to variations in durability and performance. Improper installation can lead to issues such as water infiltration, poor insulation, and reduced siding lifespan. Inadequate moisture management can lead to mold growth and decay in the siding material and the underlying structure. Thus, the risks associated with Siding may drive down the acceptance rate, further hampering the business growth.
 

COVID-19 Impact

Many construction projects were put on hold or delayed due to lockdowns, labor shortages, and uncertainty about the economic outlook. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is anticipated to drive the business expansion in the upcoming years.
 

Siding Market Trends

The demand for energy-efficient and environmentally friendly solutions has been driving innovation in the siding industry. Homeowners and builders were increasingly looking for siding materials that offer better insulation properties, reduce energy consumption, and have a lower environmental impact. Fiber cement and engineered wood sidings were gaining popularity due to their durability, low maintenance requirements, and visual appeal. These materials mimic the look of traditional wood or masonry but offer better resistance to rot, insects, and weathering.
 

Siding Market Analysis

Siding Material Market Size, By Material Type, 2021 - 2032 (USD Billion)

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Based on material type, the siding market is segmented as Vinyl Siding, Fiber Cement Siding, Wood Siding, Metal Siding, Engineered Wood Siding. Vinyl Siding held a majority market value of USD 72.82 billion in 2022. Vinyl siding is often more affordable compared to other siding options, making it an attractive choice for cost-conscious homeowners.
 

Siding Market Revenue Share, By Type, (2023)

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Based on type, the siding market is segmented as Horizontal Siding, Vertical Siding, Shake and Shingle Siding, Board and Batten Siding, Lap Siding. Horizontal siding held a dominant market share of around 40% in 2022 and is expected to grow at a lucrative pace till 2032. Horizontal siding offers a timeless and traditional look that appeals to a wide range of architectural styles, from colonial to ranch-style homes.
 

Based on application, the siding market is segmented as new construction, repair and maintenance. new construction held a dominant market share in 2022 and is anticipated to grow at 5% CAGR through 2032. Siding can be used to create visual interest through patterns, textures, and color contrasts.
 

Based on end-use, the siding market is segmented as residential siding, commercial siding. residential siding held a dominant market share in 2022 and is anticipated to grow significantly  up to 2032. Siding is widely used for single-family residences, offering protection from the elements and enhancing curb appeal.
 

U.S. Siding Market Revenue, 2021 - 2032 (USD Billion)

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U.S. dominated the North American region with majority siding market share and a revenue of USD 24.8 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. The demand for siding is closely tied to new residential construction. As housing starts increase, so does the need for siding materials for these new homes.
 

Siding Market Share

Some of the major industry players operating in the siding market are

  • James Hardie Industries
  • LP Building Solutions
  • CertainTeed Corporation
  • Ply Gem Industries
  • Alside
  • Royal Building Productsm
  • Georgia-Pacific
  • Nichiha Corporation
  • Mastic by Ply Gem
  • Kaycan Ltd.
  • Celect by Royal
  • Eldorado Stone
  • Versetta Stone
  • Boral Limited
  • Novik Inc.

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Siding Industry News:

  • In 2019, Westlake Chemical acquired NAKAN, a global compounding solutions business in order to expand its facilities in China, Germany, France, Japan, Mexico, Italy, the US, Vietnam, and Spain as well as its research facilities in France. NAKAN’s products have various applications in the automotive, medical, and building & construction industries.
     

Siding market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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By Material Type

  • Vinyl Siding
  • Fiber Cement Siding
  • Wood Siding
  • Metal Siding
  • Engineered Wood Siding

By Type

  • Horizontal Siding
  • Vertical Siding
  • Shake and Shingle Siding
  • Board and Batten Siding
  • Lap Siding

By Application

  • New Construction
  • Repair and Maintenance

By End-use

  • Residential Siding
  • Commercial Siding

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for siding was valued at around USD 121.3 billion in 2023 and is estimated to reach USD 184 billion by 2032, owing to rapid urbanization and population growth.
Vinyl siding segment accounted for USD 72.82 billion in 2022 and will continue to witness demand as the product is often more affordable compared to other siding options, making it an attractive choice for cost-conscious homeowners.
Market size for U.S. siding was worth USD 24.8 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032, favored by the new residential construction projects in the region.
CertainTeed Corporation, Ply Gem Industries, Alside, Royal Building Productsm, Georgia-Pacific, Nichiha Corporation, Mastic by Ply Gem, Kaycan Ltd., Celect by Royal, Eldorado Stone, Versetta Stone, Boral Limited, Novik Inc. among others.

Siding Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 238
  • Countries covered: 20
  • Pages: 150
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