Global Siding Market to Reach Value of USD 142.79 Billion By 2032 | Emergen Research
Rapid urbanization, rising demand for modern décor, high durability of siding, and lifestyle changes are significant factors influencing the market growth.
Vancouver, Nov. 06, 2023 (GLOBE NEWSWIRE) — The global siding market is projected to reach value of USD 142.79 Billion by 2032, according to a current analysis by Emergen Research. High investments in the construction sector, rapid industrialization, and increase in the demand for enhancing the aesthetic look of homes are some of the key factors driving the market for siding.
Wood shingles and clapboards are considered the most attractive materials for siding. Wooden siding is the costliest type of siding, as it requires high maintenance. One of the most essential advantages of wood siding is that homeowners with only a little of carpentry skills can install this siding by themselves, saving both time and money. Among all other types of siding, fiber cement siding is the most preferred type. Fiber cement siding is designed in such a way that it can handle drastic weather changes effectively. It does not get contracted due to changing weather conditions, which makes it durable. Due to its durability, it is the most popular siding used worldwide. Fiber cement siding is mostly available in planks, shingles, and flat boards for use in vertical applications.
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Fiber cement siding can be molded to appear like stucco, wood clapboards, or cedar shingles. It is often chosen to preserve historic homes that had wood exteriors, which have deteriorated over the time. The global siding market is expected to remain in a highly competitive and fragmented landscape in the near future, consisting of several small start-ups, medium enterprises, and large conglomerates.
Scope of Research
|Market size in 2019||USD 87.26 Billion|
|Revenue forecast in 2032||USD 142.79 Billion|
|Base year for estimation||2019|
|Quantitative units||Revenue in USD Billion, volume in million metric tons, and CAGR from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Application, material type, and region|
|Regional scope||North America; Europe; Asia Pacific; Central & South America; Middle East & Africa|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey|
|Key companies profiled||James Hardie Limited Plc, Westlake Chemical, Compagnie de Saint-Gobain S.A., Boral Limited, Cornerstone Building Brands, Etex Group, Louisiana Pacific Corporation, Nichiha Corporation, Docke Extrusion Co. Ltd, and Kingspan Group|
|Customization scope||10 hours of free customization and expert consultation|
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The global market for siding is mostly on the fragmented side, with a large number of conglomerates as well as medium-sized and start-up companies accounting for a major share of the global market. Major players operating in the global market are desegregated across the value chain. These players are well-equipped with large production facilities and are also engaged in various research and development activities. Some of the key players in the market are:
- James Hardie Industries Plc
- Westlake Chemical
- Compagnie de Saint-Gobain S.A.
- Boral Limited
- Cornerstone Building Brands
- Etex Group
- Louisiana Pacific Corporation
- Nichiha Corporation
- Docke Extrusion Co. Ltd
- Kingspan Group
In January 2019, Westlake Chemical acquired NAKAN, a France-based PVC compounding solutions company. NAKAN’s products are used in various applications in automotive, building & construction, and medical industries.
In March 2020, Cornerstone Building Brands acquired Kleary Masonry, Inc., a leading installer of manufactured stone veneer in North California, the U.S. This move expanded the company’s leading turnkey stone veneer offerings.
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Further Key Findings from the Report Suggest:
- In March 2020, Cornerstone Building Brands acquired Kleary Masonry, Inc., a leading installer of manufactured stone veneer in North California, the U.S. This move expanded the company’s leading turnkey stone veneer offerings.
- Fiber cement is available in different forms, but the most common form is sheets and horizontal boards. When fiber cement is manufactured, the water used in the manufacturing process is recycled for several times, it also includes solid wastes and sustainable raw materials for the fiber cement manufacturing.
- Fire protection qualities of fiber cement siding are excellent. The fiber cement segment is expected to register a growth rate of 4.8% during the forecast period.
- Europe holds a significant share of the global siding market, due to emphasis by several countries in this region on promoting growth of industries such as building & construction. Demand for siding in the building & construction sector is maximum in countries of Europe, such as Italy, the U.K, France, and Germany. These countries dominate the market in the region.
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For this report, Emergen Research has segmented the global siding market based on application, material type, and region:
- Application Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2019–2032)
- Material Type Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2019–2032)
- Fiber Cement
- Regional Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2019–2032)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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