ROCKVILLE, Md., Feb. 23, 2022 (GLOBE NEWSWIRE) -- A recent study by Fact.MR on the vinyl siding market offers a 10-year forecast for 2022 to 2032. The study analyses crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of eugenol.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
The global vinyl siding market is estimated at USD 6.7 Billion in 2022 and is forecast to surpass USD 10.3 Billion by 2032, growing at a CAGR of 4.4% from 2022 to 2032.
The global vinyl siding market accounts for ~6.1% of the global siding market in 2022. The global vinyl siding market is estimated to have an absolute $ opportunity of USD 3.6 Billion during the forecast years of 2022-2032.
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The growth in the building and the construction industry, along with stabilized housing markets in tandem with escalating real estate transaction across the globe is factored for the demand and growth for weatherproofing solutions, leading to rise in demand for vinyl sidings.
Vinyl sidings offers advantages of protecting exteriors and allows for a decorative appeal to the homes over wood sidings or cement sidings. This advantage drives homeowners to place greater demand on the table. This is particularly estimated to raise additional market demand by 1.2X in coming years.
Fact.MR projects the vinyl siding market is expected to witness exhibiting growth at 4.4% CAGR during 2022 and 2032 in comparison to a CAGR of 2.9% with which it grew from 2017 and 2021.
Global Vinyl Siding Market by Category
By Product Type:
- Clapboard Siding
- Dutch Lap Siding
- Beaded Siding
- Cabin Board Siding
- Board & Batten Vertical Siding
- Vertical Siding
- Single Siding
- Shake Siding
By Insulation Type:
- Insulated Siding
- Non-Insulated Siding
By End-User:
- New Construction
- Residential
- Non-Residential
- Repair & Rehabilitation
- Residential
- Non-Residential
To learn more about Vinyl Siding Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=425
Competitive Landscape: Top Companies in Vinyl Siding Market
The global vinyl siding market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.
Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced vinyl siding.
Fact.MR has provided detailed information about price points of top manufacturers of vinyl siding market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance:
- In January 2022, Associated Materials Group Inc. and SVPGLOBAL have entered into an agreement in which SVPGLOBAL will acquire Associated Material Group Inc.
- In September 2021, Westlake Chemical has acquired Dimex LLC, from Grey Mountain Partners, a private equity firm.
Which end-use industry holds more market share and is poised to show more growth in Vinyl Siding Market?
The application of vinyl siding comprises of new construction and repair and rehabilitation. The new construction segment accounts for nearly 54.9% of the overall vinyl siding market share. The new construction comprises of residential and non-residential construction.
The new residential construction is estimated to register a CAGR of 4.9% during the forecast years of 2022-2032 and is likely to register global market volume share of more than 43%. However, the demand for vinyl sidings in new non-residential settings is likely to gain traction in coming years.
Key Companies Profiled:
Westlake Chemical, Associated Materials Group Inc., Alcoa Inc., Alside Inc., BASF SE, Sibco Building Products, CertainTeed Corporation, Ferriot Inc., Ply Gem Holdings, Acme Brick, Koch Industries, ASC Profile Inc., American Original Building Products, Variform Inc., Berkshire Hathaway Incorporated, Kaycan Ltd.
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Which region accounts for more enhanced demand for Vinyl Siding Market?
In essence, vinyl is somewhat green friendly. Vinyl is a material with very low requirements of energy and helps save vital resources as well as energy. Vinyl can also be recycled and the global vinyl industry facilitates efforts to enhance the recycling of demolition and construction scrap made from vinyl. As a result, vinyl is the most preferred material in different construction activities.
Further, North American countries such United States, Canada etc. are focusing on eco-friendly and recyclable products to construct the buildings. Vinyl siding is fulfilling the need on American consumers. North America vinyl siding market accounts for the largest sales by contributing 24.5% to the overall vinyl siding market. It is projected to grow at 6.7% CAGR by the end of forecast period.
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