The global Siding market is expected to develop USD 154.27 million by 2029, at a compound annual increase in price (CAGR) of 4.60 % throughout the forecast period.
Siding market demand can be due to the fast growth of the worldwide construction industry. Siding demand is driven by factors such as rising residential and non-residential construction and infrastructure activities, its high durability, and the desire to improve the architectural appearance of the buildings. The worldwide Siding market has experienced high growth mainly due to the growing worldwide infrastructure and construction activities. Not only do these systems protect the structure of a building, but they also increase a building's appearance. In residential building, the demand for the Siding is expected to increase in the rebound.
The fiber cement segment of the Siding market is expected to grow at the highest CAGR in volume terms during the forecast era. Cement fiber material, such as in residential and non-residential structures, is mostly used for Siding applications and can last for up to 50 years. In regions with extreme weather conditions, fiber cement Siding is affordable and is built. Because of its special structure, it may expand and contract. It's stronger and more durable because of the fiber applied to the cement. It also stops cracks on the surface from forming. For fiber cement substitute, asbestos cement, which has carcinogenic effects on human health, is used.
The base year considered for the analysis is 2019 and from 2018 to 2028 the market size is estimated. Factors such as rising demand in the Asia-Pacific region, growth in the food & beverage and healthcare sectors, and increasing consumer understanding of health are the key drivers of the Siding market in the coming years. The base year considered for the report is 2019, whereas the forecast period considered for the report is 2020 to 2028.
The growth of the residential Siding market segment is mainly due to the favorable and lenient financing policies adopted by governments in all regions that drive residential building project sales. As urbanization trends have been observed in these regions, residential construction spending is projected to increase, especially in the developing regions of Asia Pacific and Latin America, resulting in a much higher rate of growth in the residential construction sector than in the developed countries.
Siding Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 154.27 million|
|Growth Rate||CAGR of 4.60 % during 2021-2028|
|Segment Covered||By Material Type, Application, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||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) and Döcke Extrusion LLC (Russia)|
Key Segments of the Global Siding Market
Type Overview, 2018-2028 (USD Million) (Kilo Tons)
- Fiber Cement
Application Method, 2018-2028 (USD Million) (Kilo Tons)
Regional Overview, 2018-2028 (USD Million) (Kilo Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global Siding market
- Compagnie de Saint-Gobain S.A.
- Westlake Chemical
- Louisiana Pacific Corporation
- Etex Group
- Boral Limited
- James Hardie Industries PLC
- Nichiha Corporation
- Cornerstone Building Brands
- Döcke Extrusion Co. Ltd.
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of Siding market
- Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Siding Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on solution, service, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Siding
- Managers within the field service management industry looking to publish recent and forecasted statistics about Siding Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Siding Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.