The new Expert Market Research report titled “Global Siding Market Report and Forecast 2021-2026”, provides an in-depth analysis of the global Siding market, assessing the market based on its segments such as material, end-use, and major regions.
The report follows the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, including key demand and price indicators, and analyzes the market based on the SWOT and Porter’s Five Forces models.
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The main highlights of the report are:
Market overview (2016-2026):
Historical Market Size (2020): USD 100.5 Billion
Forecast CAGR (2021-2026): 5%
Forecasted market size (2026): USD 130.2 billion
Due to driving factors such as an increase in housing and construction activities and the demand for sustainable cladding materials, the cladding market is expected to grow during the forecast period. In addition, the high durability of siding is expected to drive market growth.
The high raw material costs, on the other hand, may limit the growth of the wall cladding market during the forecast period. The increased demand for fiber cement siding, on the other hand, is expected to provide lucrative growth opportunities for key stakeholders of the siding market in the coming years.
Industry Definition and Key Segments
Siding is the fabric used to clad, cover and secure the exterior walls of a building. Fiber cement, vinyl, brick, stucco, aluminum, asphalt and other composite materials are some of the most popular siding materials.
Depending on the customer’s needs, they are added to the roof and walls in various shapes and designs, such as clapboard, shingles, shakes, verticals and columns.
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On the basis of materials, the siding market is divided into:
On the basis of end-use, the siding market is subdivided into:
Based on region, the market is segmented into:
Middle East and Africa
The tremendous growth of the construction industry around the world has boosted the demand for cladding products. The demand for cladding is driven by factors such as the expansion of suburban and non-domestic architecture and foundation projects, the enormous sturdiness and ability to enhance the artistic impression of the buildings.
In addition, by improving distribution networks and offering a wide range of products, companies have been able to expand their customer base and meet different needs. The growth of the market is expected to be hampered by high raw material and establishment costs.
The residential sector is dominated by siding, which enhances the visual value of a building while providing benefits such as stability and protection against severe weather. Other advantages, such as fire resistance and high thermal performance, would increase the demand for siding. Fiber cement, vinyl, brick, and wood are the most common siding materials.
Fiber cement siding is popular for residential siding due to its low cost, high durability and aesthetic appeal. The favorable and flexible credit policy of governments in all regions is driving the growth of the residential segment in the cladding sector.
During the forecast era, the Asia-Pacific market is expected to rise at the fastest pace. Rapid urbanization, the expansion of the construction industry and the implementation of sustainable development plans have all contributed to the growth of the cladding market in the area.
Countries in the Asia-Pacific region, especially China and India, are expected to develop most rapidly during the predicted era.
Main market players
The main players in the market are Compagnie De Saint-Gobain SA, Westlake Chemical Corporation [NYSE: WLK], Boral Limited, ETEX Group, Louisiana Pacific Corporation, James Hardie Building Products Inc, NICHIHA Co., Ltd, Cornerstone Building Brands, SHERA Public Company Limited, among others. The report covers the market shares, capabilities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Company Name: Claight Corporation
Contact: Louis Wane, Corporate Sales Specialist – USA
Email: [email protected]
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