Fiber cement siding demand is forecast to grow 2.5% annually through 2023 to 22.1 million squares, valued at $1.7 billion. Fiber cement is the second largest siding material and will record healthy gains over this period because of the material’s: • ability to mimic the look of natural wood more effectively than vinyl products • increased use in high-end buildings as product quality continues to improve • affordability relative to brick and natural stone, whose aesthetics it can also replicate

Trends in China – the world’s largest national producer and purchaser of construction machinery – will underlie regional market gains.

Plastic roofing is forecast to post the strongest annual increases of any major low-slope roofing product through 2023, rising 1.5% per year, due in part to its ease of installation and low maintenance requirements. TPO remains the leading plastic roofing type, supported by its lower cost and comparable performance properties to PVC roofing.

According to the Global Silicones study, key market opportunities for silicones include solar panels in the electrical equipment segment; sensors and electric vehicles in the transportation market; medical adhesives and disposable medical devices; and components for cell phones, computers, and LEDs in the electronics market.

According to the new edition of Lawn & Garden Consumables, demand for fertilizers is forecast to grow 2.6% annually to $3.3 billion in 2023. Lawn and turf care will continue to dominate lawn and garden fertilizer applications – representing 71% of the market in 2023 – as most residences and many commercial and institutional establishments have lawn space that requires care.

Through 2023, new housing construction levels in India are forecast to increase 2.4% per year to 10.1 million units. The best growth opportunities are anticipated for multifamily housing units, supported by: • continued expansion in the country’s middle class • ongoing migration to cities • continued government support for the construction of affordable apartments Both the single-family and multifamily housing segments will benefit from the release of pent-up demand for new homes, many of which were delayed in 2017 and 2018 as households waited to see the effects of demonetization and tighter real estate regulations.

Demand for extruded polystyrene (XPS) insulation is forecast to grow 4.7% per annum to 1.6 million metric tons in 2023, boosted by: • the rising popularity of prefabricated housing and insulated building panels, as XPS offers a high R-value at a lower cost than rigid board • gains in industrial and HVAC equipment production, as XPS is frequently installed in pipe and duct applications for its insulative properties • rising nonresidential construction activity, as XPS is commonly used in metal frame construction applications due to the ease with which it can be attached to metal panels or gypsum boards • higher global incomes that allow end users to upgrade to XPS from EPS, the lowest cost foamed plastic product

Global demand for excavators is forecast to advance 4.7% per year through 2023 to reach $54.8 billion. According to the new study Global Construction Machinery, growth will be supported by: • a trend toward more technologically advanced and more expensive models because of their higher fuel efficiency and their advanced information technology systems • advances in global building and nonbuilding construction • upcoming and recently implemented more stringent emissions standards that require the purchase of new, more expensive equipment

New pool and spa sales are expected to grow 3.5% per year to 4.9 million units in 2023. The Asia/Pacific region will account for 53% of new sales, supported by the key Chinese market, which itself will account for 22% of new pools and spas sold globally in 2023 due to rising incomes and related investment in recreational facilities, such as public swimming pools, aquatics facilities, and amusement parks.

Demand for electric power transmission and distribution equipment in India is forecast to rise 8.2% per year to $15.8 billion in 2023. A strong economy and further upgrades and expansion of the nation’s underdeveloped electricity sector – both to reduce the large amount of power currently lost during transmission and to improve access to electricity in rural areas – will provide strong opportunities for growth in the country, as consumers switch away from alternative sources of power such as generators.