Dublin, June 15, 2023 (GLOBE NEWSWIRE) -- The "Siding Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global siding market is expected to reach an estimated $127.7 billion by 2028 with a CAGR of 3.9% from 2023 to 2028. The future of the global siding market looks promising with opportunities in residential and non-residential construction. The major growth drivers for this market are increasing construction activities, growing repair and maintenance of building exteriors, and a rise in the hospitality industry.
Emerging Trends in the Siding Market
Emerging trends, which have a direct impact on the dynamics of the industry, include the increasing adoption of fiber cement siding and increasing use of sidings with good insulation to reduce energy consumption through air conditioners and heaters.
Siding Market by Segment
In this market, residential is the largest application segment, whereas vinyl is the largest material segment. Growth in various segments of the siding market is given below.
Siding Market by Material [Value ($ Million) and Volume (Million Square Feet) from 2017 to 2028]:
- Fiber Cement
- Vinyl
- Metal
- Stucco
- Concrete and Stone
- Brick
- Wood
- Other
Siding Market by End-use [Value ($ Million) and Volume (Million Square Feet) from 2017 to 2028]:
- Residential
- Non-Residential
- Healthcare
- Education
- Hospitality
- Retail
- Office
- Others
Siding Market by Application [Value ($ Million) from 2017 to 2028]:
- New Construction
- Repair and Maintenance
Siding Market by Region [Value ($ Million) from 2017 to 2028]:
- North America
- Europe
- APAC
- RoW
List of Siding Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, siding companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the major siding companies profiled in this report include:
- Valmont Industries
- Kingspan
- James Hardie
- Nichiha
- Ply Gem
- Louisiana Pacific
- Georgia Pacific Vinyl Siding
- Revere Building Products
- Lixil Group Corporation
Siding Market Insights
- The analyst forecasts that vinyl will remain the largest material type segment over the forecast period due low material and maintenance cost and availability of wide variety of colors.
- Within the global siding market, non-residential will remain the largest end use segment during the forecast period due to growth in retail and office buildings. Residential construction is expected to witness the highest growth during the forecast period due to increasing adoption of energy efficient homes.
- Asia Pacific is expected to remain the largest market and witness the highest growth over the forecast period, supported by increasing urbanization and building construction activities.
Features of the Report
- Market Size Estimates: Global siding market size estimation in terms of value ($M) and Volume (Million Square Feet) shipment.
- Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Global siding market size by various segments, such as material, application, end-use, and regions in terms of value.
- Regional Analysis: Global siding market breakdown by North America, Europe, Asia-Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different materials, applications, end uses, and regions of the global siding market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the global siding market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
For more information about this report visit https://www.researchandmarkets.com/r/huapeo
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
