Global siding market (2019-2023) to reach $100 billion by the year 2023
Global siding market seems to be promising with the opportunities in the nonresidential as well as residential construction. Well, the global siding market has been expected to go on and reach close to $102 billion by the year 2023 with the CAGR of close to 4.3% from the year 2018-2023. Major growth drivers for the market has been increasing as a result of the construction activities, the growing repair as well as maintenance of the building exteriors and the rise in the hospitality industry. The emerging trends that have the direct impact on dynamic of siding market that includes the increasing adoption of the fiber cement siding as well as increasing use of the sidings with very good insulation to reduce the energy consumption through the air conditioners as well as the heaters.
This study does include siding market size as well as a forecast for global siding market through the year 2023, which has been segmented by the material, application, end use as well as region.
- Siding market by the material and volume from 2012-2023
Cement, fiber, vinyl, Stucco, metal, concrete and Brick, stone, wood among others
- Siding market by the End-use and volume from 2012-2023
Residential as well as non-residential health care education, retail, hospitality, office among others.
- Siding market by the application for 2017-2023
New construction, maintenance, and repair.
- Siding market by region 2012-2023
North America, Canada, United States Mexico Germany Europe France United Kingdom APAC India Japan-Brazil UAE ROW
Some of siding companies profiled in report do include Kingspan, Nichiha, James Hardie, Louisiana, Pacific, Georgia, Pacific, Ply Gem, Vinyl Siding, Lixil Group Corporation, Revere Building Products among many others.
Based on exhaustive research, Lucintel figures that the vinyl will remain the biggest material sort over forecast time frame due to low material and support cost as well as accessibility of a wide assortment of colors. Lucintel predicts that fiber concrete is going to witness the most noteworthy development during this particular period frame because of its eco-accommodating nature as well as the fire resistant property.
Inside the worldwide siding market, non-residential will remain the biggest end-use market amid the forecast time because of development in retail as well as office buildings. The residential construction is needed to observe the most astounding development amid the forecast period because of expanding the use of the energy-efficient homes.
The Asia Pacific will remain the biggest market and witness the most noteworthy development over the forecast period upheld by expanding urbanization and building development activities.