Demand for siding in the US is forecast to grow 6.5 percent annually through 2014, driven by a rebound in housing completions from depressed levels in 2009. Fiber cement, stucco and brick siding will see the most rapid advances. Vinyl siding will remain the largest segment and will continue to supplant wood.

This study analyzes the 74 million square US siding industry. It presents historical demand data for the years 1999, 2004 and 2009, and forecasts for 2014 and 2019 by material (e.g., vinyl siding, wood siding, fiber cement, stucco, metal panels, brick siding, EIFS, concrete and stone), market (residential, nonresidential) and US region.

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 35 industry players, including James Hardie, Ply Gem and CertainTeed.

				    TABLE OF CONTENTS

     SECTION									    PAGE


		Introduction							       X

	I.	Executive Summary						       1

	II.	Market Environment						       4
		General								       4
		Macroeconomic Environment					       5
		Demographic Trends						       8
		Consumer Trends							      11
		   Personal Income & Expenditures				      12
		   Consumer Financing						      14
		Building Construction						      17
		   Residential Buildings					      20
		      Housing Completions					      22
		      Housing Stock						      27
		      Improvements & Repairs					      31
		   Nonresidential Buildings					      32
		      Institutional						      35
		      Office & Commercial					      36
		      Industrial						      36
		      Transportation & Other					      37
		      Improvements & Repairs					      37
		Regulatory & Environmental Trends				      38
		   Environmental Issues						      39
		   Green Building Standards					      41
		   Recycling							      42
		   Other Regulatory Issues					      43
		Pricing Trends							      44
		Materials & Technology Trends					      48
		Historical Market Trends					      50
		US-Canadian Softwood Timber Dispute				      52
		Foreign Trade							      53
		International Activity						      56

	III.	Material							      60
		General								      60
		   Area Outlook							      63
		   Value Outlook						      65
		   Installed Costs						      68
		Vinyl Siding							      71
		   Characteristics						      74
		   Markets							      76
		   Products							      79
		   Suppliers							      80
		Wood Siding							      81
		   Markets							      82
		   Products							      85
		      Plywood							      88
		      Hardboard							      90
		      Other Engineered Wood					      93
		      Lumber & Wood Shingles					      96
		   Suppliers							     100
		Fiber Cement							     102
		   Markets							     103
		   Products							     105
		   Suppliers							     107
		Stucco								     108
		   Markets							     109
		   Products							     110
		   Suppliers							     112
		Metal Panels							     112
		   Markets							     114
		   Products							     114
		   Suppliers							     116
		Brick Siding							     117
		   Markets							     119
		   Products							     121
		   Suppliers							     124
		EIFS								     124
		   Markets							     126
		   Products							     127
		   Suppliers							     128
		Concrete & Stone						     129
		   Markets							     130
		   Products							     130
		   Suppliers							     132
		Other Siding							     133
		   Steel Siding							     134
		   Aluminum Siding						     136
		   Polypropylene Siding						     139
		   All Other Siding						     140

	IV.	Markets								     143
		General								     143
		Residential							     146
		   New Housing							     151
		      Single-Family						     154
		      Multifamily						     158
		      Manufactured Housing					     161
		   Improvements & Repairs					     164
		      Vinyl							     168
		      Other Materials						     170
		Nonresidential							     172
		   New								     177
		   Improvements & Repairs					     181
		   Demand by Building Type					     183
		      Commercial & Lodging					     184
		      Industrial						     186
		      Institutional						     188
		      Office							     190
		      Other							     192

	V.	Regions								     194
		General								     194
		Regional Demographic & Economic Activity			     195
		   Economic Outlook						     196
		   Population Patterns						     198
		   Construction Activity					     199
		   Housing Trends						     202
		Regional Siding Demand						     204
		   Northeast							     208
		      Demand by Market & Subregion				     208
		      Demand by Material					     210
		      New England						     213
		      Middle Atlantic						     214
		   Midwest							     215
		      Demand by Market & Subregion				     216
		      Demand by Material					     218
		      East North Central					     221
		      West North Central					     222
		   South							     223
		      Demand by Market & Subregion				     224
		      Demand by Material					     226
		      South Atlantic						     230
		      East South Central					     232
		      West South Central					     234
		   West								     235
		      Demand by Market & Subregion				     236
		      Demand by Material					     238
		      Mountain							     241
		      Pacific							     243

	VI.	Industry Structure						     245
		General								     245
		Industry Composition						     246
		Market Share by Company						     249
		Market Share by Material					     253
		   Vinyl Siding							     253
		   Stucco & Related Siding					     254
		   Wood Siding							     255
		   Brick Siding							     255
		   Fiber Cement Siding						     256
		   Metal Panel Siding						     256
		Manufacturing							     256
		Competitive Strategies						     258
		Marketing							     261
		Distribution							     264
		Mergers & Acquisitions						     265
		Company Profiles						     267
		   Acme Brick, see Berkshire Hathaway 
		   Alcan Composites, see Schweiter Technologies
		   Alcoa Incorporated						     268
		   Allied Building Products, see CRH
		   Alside see Associated Materials
		   American Building Components, 
		      see NCI Building Systems
		   American Buildings, see Nucor
		   ASC Profiles, see BlueScope Steel
		   Associated Materials LLC					     270
		   Berkshire Hathaway Incorporated				     273
		   BlueScope Steel Limited					     275
		   Boise Cascade Holdings LLC					     278
		   Boral Limited						     280
		   Butler Manufacturing, see BlueScope Steel
		   Ceco Building Systems, see NCI Building Systems
		   Cedar Valley Shingle Systems Incorporated			     282
		   CertainTeed, see Saint-Gobain
		   Clarke Group							     284
		   Coronado Stone Products Company				     286
		   Crane Group							     288
		   CRH plc							     291
		   Dryvit Systems, see RPM International
		   Exteria Building Products LLC				     294
		   Garco Building Systems , see NCI Building Systems
		   General Shale Brick, see Wienerberger Baustoffindustrie
		   Gentek Building Products, see Associated Materials
		   Georgia Gulf Corporation					     296
		   Georgia-Pacific, see Koch Industries
		   Glen-Gery, see CRH
		   Gulf States Manufacturers, see Nucor
		   Hanson Brick, see HeidelbergCement
		   Hardie (James) Industries NV					     298
		   HCI Steel Building Systems, see BlueScope Steel
		   Heartland Siding, see ProVia Door
		   HeidelbergCement AG						     302
		   Insulated Panel Systems, see NCI Building Systems
		   Kaycan Limited						     304
		   Koch Industries Incorporated					     306
		   Louisiana-Pacific Corporation				     307
		   Mastic Home Exteriors, see Ply Gem Holdings
		   Metal Building Components, see NCI Building Systems
		   Metl-Span, see BlueScope Steel
		   Mitten Incorporated						     309
		   Napco, see Ply Gem Holdings
		   NCI Building Systems Incorporated				     311
		   Nichiha Corporation						     314
		   Norandex Building Materials Distribution,
		       see Saint-Gobain
		   Nucor Corporation						     316
		   Owens Corning						     318
		   Ply Gem Holdings Incorporated				     320
		   ProVia Door Incorporated					     324
		   Resolite, see Verzatec
		   Rio Tinto Group						     326
		   Rollex Corporation						     327
		   Royal Group, see Georgia Gulf
		   RPM International Incorporated				     328
		   Saint-Gobain							     330
		   Schweiter Technologies AG					     334
		   Shakertown 1992, see Clarke Group
		   Star Building Systems, see NCI Building Systems
		   Steelscape, see BlueScope Steel
		   Sto AG							     336
		   Tri-State Roofing & Siding Wholesale, see CRH
		   United Stone Veneer, see Ply Gem Holdings
		   Varco Pruden Buildings, see BlueScope Steel
		   Variform, see Ply Gem Holdings
		   Verzatec SA de CV						     339
		   Weyerhaeuser Company						     340
		   Wienerberger Baustoffindustrie AG				     341
		Additional Companies Mentioned in Study				     344


				      LIST OF TABLES

    TABLE NUMBER								    PAGE


		SECTION I -- Executive Summary
		Summary Table							       3

		SECTION II -- Market Environment
	1	Macroeconomic Indicators					       8
	2	Population & Households						      11
	3	Personal Consumption Expenditures				      13
	4	Consumer Financing Environment, 1999-2009			      17
	5	Building Construction Expenditures				      20
	6	Residential Building Construction Expenditures			      22
	7	New Housing Indicators						      27
	8	Housing Stock by Type						      30
	9	Residential Improvement & Repair Expenditures			      32
	10	Nonresidential Building Construction Expenditures		      35
	11	Nonresidential Building Improvement & Repair Expenditures	      38
	12	Siding Pricing Trends						      48
	13	Siding Market, 1999-2009					      51
	14	Siding Products Foreign Trade					      56

		SECTION III -- Material
	1	Siding Demand by Material in Area Terms				      65
	2	Siding Demand by Material in Value Terms			      68
	3	Vinyl Siding Demand						      74
	4	Wood Siding Demand by Market					      85
	5	Wood Siding Demand by Product					      87
	6	Plywood Siding Demand						      90
	7	Hardboard Siding Demand						      92
	8	Other Engineered Wood Siding Demand				      96
	9	Lumber & Wood Shingle Siding Demand				      98
	10	Fiber Cement Siding Demand					     103
	11	Stucco Siding Demand						     108
	12	Metal Panel Siding Demand					     113
	13	Brick Siding Demand						     119
	14	EIFS Siding Demand						     125
	15	Concrete & Stone Siding Demand					     129
	16	Other Siding Demand by Market & Material			     134
	17	Steel Siding Demand						     136
	18	Aluminum Siding Demand						     138
	19	Polypropylene Siding Demand					     140
	20	Other Siding Demand						     142

		SECTION IV -- Markets
	1	Siding Demand by Market						     145
	2	Residential Siding Demand by Market & Material			     150
	3	New Housing Siding Demand					     154
	4	New Single-Family Housing Siding Demand				     158
	5	New Multifamily Housing Siding Demand				     161
	6	New Manufactured Housing Siding Demand				     164
	7	Residential Improvement & Repair Siding Demand			     168
	8	Nonresidential Siding Demand					     176
	9	New Nonresidential Siding Demand				     180
	10	Nonresidential Improvement & Repair Siding Demand		     183
	11	Nonresidential Siding Demand by Building Type			     184
	12	Commercial & Lodging Siding Demand				     186
	13	Industrial Siding Demand					     188
	14	Institutional Siding Demand					     190
	15	Office Siding Demand						     192
	16	Other Nonresidential Siding Demand				     193

		SECTION V -- Regions
	1	Gross Domestic Product by Region				     197
	2	Population by Region						     199
	3	Construction Expenditures by Region				     202
	4	Regional Housing Indicators					     204
	5	Siding Demand By Region						     207
	6	Northeast Siding Demand by Subregion & Market			     210
	7	Northeast Siding Demand by Material				     213
	8	Midwest Siding Demand by Subregion & Market			     217
	9	Midwest Siding Demand by Material				     220
	10	South Siding Demand by Subregion & Market			     226
	11	South Siding Demand by Material					     230
	12	West Siding Demand by Subregion & Market			     238
	13	West Siding Demand by Material					     241

		SECTION VI -- Industry Structure
	1	Siding Revenues for Selected Manufacturers, 2009		     248
	2	Selected Acquisitions & Divestitures				     267
 
				      LIST OF CHARTS

    CHART NUMBER								    PAGE

		SECTION II -- Market Environment
	1	Year of Construction of Housing Stock, 2009			      30
	2	Siding Market, 1999-2009					      52

		SECTION III -- Material
	1	Siding Demand by Material, 2009					      62
	2	Range of Installed Costs for Selected Siding Materials, 2009	      71

		SECTION IV -- Markets
	1	Siding Demand by Market, 2009					     146
	2	Residential Siding Demand by Material, 2009			     151
	3	Nonresidential Siding Demand by Material, 2009			     177

		SECTION V -- Regions
	1	Siding Demand by Region, 2009					     208

		SECTION VI -- Industry Structure
	1	Siding Market Share by Company, 2009				     250