According to a new market report published by Lucintel, the global siding market looks promising with opportunities in non-residential and residential construction. The global siding market is expected to reach an estimated $102.0 billion by 2023 with a CAGR of 4.3% from 2018 to 2023. 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.
In this market, different types of siding such as fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and others are used as material. Lucintel forecasts that the vinyl will remain the largest material type over the forecast period due low material and maintenance cost and availability of wide variety of colors. Lucintel predicts that fiber cement will witness the highest growth during the forecast period due to its eco-friendly nature and fire-resistant property.
Within the global siding market, non-residential will remain the largest end use market 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.
Emerging trends which have a direct impact on the dynamics of the siding market include increasing adoption of fiber cement siding and increasing use of sidings with good insulation to reduce energy consumption through air conditioners and heaters. Kingspan, James Hardie, Nichiha, Ply Gem, Louisiana Pacific, Georgia Pacific Vinyl Siding, Revere Building Products, and Lixil Group Corporation and others are among the major siding manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global siding market by material, end use, application, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Siding Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global siding market by material, end use, application, and region as follows:
Material [Value ($ Million) and Volume (Million Square Feet) from 2012 to 2023]:
• Fiber Cement
• Concrete and Stone
By End Use [Value ($ Million) and Volume (Million Square Feet) from 2012 to 2023]:
• Non Residential
By Application [Value ($ Million) for 2017 and 2023]:
• New Construction
• Repair and Maintenance
By Region [$M shipment analysis for 2012 – 2023]:
• North America
– United States
• Asia Pacific
• The Rest of the World
This 160-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/siding-market.aspx or firstname.lastname@example.org.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global siding market to 2023 by material (fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and others), end use (residential and non-residential), application (new construction and repair and maintenance), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?