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Report Overview

The global siding market was valued at USD 115.60 Billion in 2023 and is anticipated to grow at a CAGR of 4.40% during the forecast period of 2024 to 2032. The market is further expected to reach a value of nearly USD 170.32 Billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

  • As per the siding industry analysis, the Asia Pacific region accounted for around 5.7% CAGR in the forecast period which indicates a positive trend in the market.
  • India held the largest share in the region with a CAGR of 6.5% owing to the burgeoning popularity of vinyl wall siding which can be available in the materials of cement wood cladding and wooden wall cladding.
  • Moreover, India is expected to become the third largest market for construction globally by 2025, which can boost the demand for siding.
Global Siding Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 115.6
Market Size 2032 USD Billion 170.3
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 4.4%
CAGR 2024-2032 - Market by Region Asia Pacific 5.7%
CAGR 2024-2032 - Market by Country India 6.5%
CAGR 2024-2032 - Market by Country Mexico 4.1%
CAGR 2024-2032 - Market by Materials Vinyl 4.8%
CAGR 2024-2032 - Market by End Use Residential 4.8%
Market Share by Country 2023 Australia 1.4%

Siding Industry Overview

Factors driving the global market for siding include growing demand for energy-efficient materials and increased residential and commercial construction activities. Increasing attention to reducing environmental impact has resulted in the adoption of sustainable siding materials, including fiber cement, vinyl, and composite options. Government initiatives to enhance the energy efficiency of buildings and consumer preferences for low-maintenance products have further boosted siding market growth.

Trends in the market include moving toward more aesthetically pleasing, customizable options to fit the needs of contemporary architectural designs. Innovations in materials and technology are also leading to improved durability and performance. Additionally, rising eco-friendly products, such as those with recycled content, and smart homes will continue to shape the future of the market.

Siding Market Growth

The two major growth drivers for the siding industry include increasing demand for energy-efficient building materials and rising home renovations. Heightened awareness of sustainability is resulting in more consumers and builders preferring siding products offering better insulation, which reduce energy consumption, thereby propelling the siding demand growth.

Moreover, the increased popularity of home renovations due to demands for aesthetics and functionality further enhances the demand for durable, high-performance, and customizable siding options. All these drivers are accelerating market expansion across the globe.

Compound Annual Growth Rate

Value in USD Billion

4.4%

2024-2032


Siding Market Outlook

*this image is indicative*

Key Trends and Developments

Siding Market Trends

Two emerging trends in the global market for siding are the use of eco-friendly materials and smart siding solutions. The trend of green building initiatives increases the demand for sustainable materials, which includes fiber cement and recycled wood. 

For example, LP Building Solutions offers products that have been made by LP SmartSide using the SmartGuard technology to be more durable. Furthermore, smart siding materials, such as TruExterior's poly-ash siding, are coming in with weather resistance and readiness for integration with solar panels, which can make for energy-friendly design, thus pushing new trends in the siding market.

Technological integration is shaping the rise of product offerings in the market. Advanced materials such as fiber cement and vinyl are being integrated with intelligent technologies such as sensors to provide energy efficiency and weather resistance. Innovations from firms like James Hardie and CertainTeed involve improved durability, easier installation, and long-term performance using digitally enhanced siding. This trend follows the increased demand for low-maintenance, high-tech, and energy-efficient solutions in building applications in the residential and commercial markets.

Opportunities in the Siding Market

Sustainable Building Materials

Sustainable building materials are now becoming a leading driver in the siding market. Fiber cement, metal, and recycled vinyl are gaining popularity in siding markets as consumers look for energy-efficient, low-maintenance solutions and governments increasingly adopt policies that promote sustainable construction. Fiber cement, for example, offers durability with reduced environmental impact, making it a favorite in residential and commercial markets. The global green building materials market is growing, and players like Saint-Gobain and Holcim contribute significantly, thereby shaping siding market opportunities.

Technological Innovation

Technological advances, like smart siding products equipped with solar panels and improved insulating features, are a promising market opportunity for siding. This is mainly because consumer demand is increasing for energy-efficient, technologically integrated homes. Energy saving solutions, such as the ones from LP Building Solutions and CertainTeed, are able to capitalize on this emerging demand for smart, low-maintenance siding products. The use of energy-efficient building materials has been supported by regulatory frameworks in markets such as the United States and Europe.

Siding Market Restraints

  • Environmental Regulations: Stringent environmental regulations and sustainability requirements pose challenges for manufacturers in terms of compliance and production practices.
  • Raw Material Costs: Fluctuations in the prices of raw materials, such as timber, cement, and PVC, impact production costs, market pricing strategies, and siding demand forecast.
  • Competition from Alternatives: Competing exterior finishes, such as brick, stucco, and stone, offer alternatives to traditional siding, affecting market share.
  • Installation Complexity: Skilled labour shortages and the complexity of installing certain siding materials can lead to higher labour costs and potential delays in projects

Siding Market by Material

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Siding Industry Segmentation

“Siding Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Based on material, the market is divided into:

  • Vinyl
  • Fibre Cement
  • Wood
  • Others

On the basis of end-use, the siding industry is divided into:

  • Residential
  • Non-Residential

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Siding Market Share

By Material Analysis

As per siding market analysis, the demand for siding materials is driven by durability, aesthetic appeal, and sustainability. Vinyl siding is the leading market because of its affordability, low maintenance, and weather resistance. It is used both in residential and commercial applications.

Fibre Cement is used as it is fire-resistant, and has a weather durability and aesthetic flexibility. Wood is still in vogue because of its natural appeal and insulation properties. Others such as metal and stone are used for high-end commercial and residential applications, which further supports the growth in the market.

Market Analysis by End Use

As per siding industry analysis, residential is the highest end-use segment for siding due to the demand for energy-efficient, low-maintenance, and aesthetically pleasing products for new construction and renovation purposes, along with a 4.8% CAGR during the forecast period. As the trend for sustainable and eco-friendly housing increases, the demand for fiber cement and vinyl is also increasing.

The non-residential market grows in commercial buildings, schools, and hotels requiring long-lasting, energy-efficient siding materials that also provide a modern or upscale look. Materials such as metal and stone are favored for their durability, strength, and contemporary appearance, so this is also a factor in further market growth.

Siding Market by Region

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Siding Market Regional Insights

North America Siding Market Opportunities

The North America siding market is expanding owing to the construction industry that has started to gain momentum in the region, witnessing increased investment in residential and commercial projects. In the United States alone, new home construction went up 10% in 2020, boosting demands for siding. Government housing initiatives like the Affordable Housing Initiative, AHI, support this development.

Asia Pacific Siding Market Trends

In the Asia Pacific region, countries like China and India are seeing significant growth in the siding market driven by rapid urbanization and infrastructure development, thus garnering a 5.70% CAGR through 2032. The Indian government’s “Housing for All” initiative, along with a growing middle class, is pushing the demand for residential and commercial siding. China, with its extensive residential and industrial construction, is expected to dominate growth.

CAGR 2024-2032 - Market by Country
India 6.5%
Mexico 4.1%
Australia 3.9%
Germany 3.2%
USA XX%
Canada XX%
UK XX%
France XX%
Italy XX%
China XX%
Japan XX%
Saudi Arabia XX%
Brazil XX%

Europe Siding Market Dynamics

Green building initiatives and regulations related to energy-efficient construction boost the Europe siding market. The building energy performance regulations of the European Union have played a vital role in stimulating the demand for more durable and energy-efficient siding materials. Further, Germany has been recording growth due to its concern with sustainable and environmentally friendly materials in construction.

Middle East and Africa Siding Market Drivers

In the Middle East and Africa, Saudi Arabia and Turkey are driving demand for siding, especially fiber cement due to rapid urbanization and large-scale construction projects. Government-led initiatives such as Saudi Arabia's Vision 2030 aims to diversify the economy and increase infrastructure development, thus increasing siding requirements.

Latin America Siding Market Insights

The Latin America siding market benefits from economic recovery and higher residential construction. The Mexico market is one of the fastest growing with good governmental support on the housing development programs as efforts to reduce housing deficits gain momentum. Demand for vinyl and fiber cement siding is prominent especially in the evolution of materials for constructions.

Competitive Landscape

Siding market players are concentrating on innovation, sustainability, and expanding product lines. Companies such as James Hardie and LP Building Solutions emphasize developing energy-efficient, long-lasting, and eco-friendly siding materials that meet sustainable construction demands. Siding companies target emerging markets, especially Asia-Pacific, where urbanization stimulates demand. Others seek to improve customer experience through digital channels and offer customizable designs.

Saint-Gobain Group

Saint-Gobain Group is a France-based business that was founded in 1665. It offers different kinds of sustainable building materials and includes products like siding solutions under the brand CertainTeed, which is recognized for vinyl and fiber cement.

Westlake Chemical Corporation

Westlake Chemical Corporation was also founded in 1986, and its headquarter is located in Houston, Texas. West...

Louisiana-Pacific Corporation

Louisiana-Pacific Corporation, founded in 1973 and based in Nashville, Tennessee, offers innovative siding pro...

NICHIHA Co., Ltd.

NICHIHA Co., Ltd., founded in 1956 and based in Suwanee, Georgia, provides fiber cement siding solutions that ...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other siding market players include SHERA Public Company Limited, Cornerstone Building Brands, LLC, James Hardie Building Products Inc., and Etex Group, among others.

Innovative Siding Startups

Startups in the siding market focus on innovation in sustainable, cost-effective materials, extending product life, and streamlining installation. They concentrate on harnessing new technologies and the increasing demand for bespoke energy-efficient solutions, catering to the environmentally conscious consumer and the visionary architecture of today.

Sierra Pacific Windows: A siding start-up specializing in energy-efficient, customized exterior products. They produce high-performance wood and composite sidings suitable for durability, sustainability, and energy consumption reduction for both residential and commercial building designs.

RevWood by Mohawk: Innovative engineered wood siding solutions with increased water resistance and durability. Its products are designed to simulate real wood but low on maintenance and environmentally friendly for aesthetic appeal and performance.

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the market reached an approximate volume of  115.60 Billion.

The siding industry is assessed to grow at a CAGR of 4.40% between 2024 and 2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach around 170.32 Billion by 2032.

The major market drivers are increasing residential and non-residential construction and other infrastructural activities and the high durability of sidings., and its .

The key trends in the market are the ability of sidings to enhance the aesthetic appearance of the buildings and provide protection from extreme weathering.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The various materials of siding in the market are vinyl, fibre cement, and wood, among others. 

The end uses in the market are residential and non-residential.

The major players in the global siding market are Saint-Gobain Group, Westlake Chemical Corporation, Louisiana-Pacific Corporation, NICHIHA Co., Ltd., SHERA Public Company Limited, Cornerstone Building Brands, LLC, James Hardie Building Products Inc., and Etex Group, among others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Material
  • End Use
  • Region
Breakup by Material
  • Vinyl
  • Fiber Cement
  • Wood
  • Others
Breakup by End Use
  • Residential
  • Non-Residential
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Saint-Gobain Group
  • Westlake Chemical Corporation
  • Louisiana-Pacific Corporation
  • NICHIHA Co., Ltd.
  • SHERA Public Company Limited
  • Cornerstone Building Brands, LLC
  • James Hardie Building Products Inc.
  • Etex Group
  • Others
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