Study #: 3951 | Published: 12/2020 | Pages: 129 | Individual User License: US$ 3,900

Global demand for residential siding is forecast to rise 1.0% annually through 2024 to 3.9 billion square meters. Weakened global residential building construction activity due to the COVID-19 pandemic will cause siding demand to decline in 2020, but the market is expected to rebound in 2021 as case numbers fall, economies reopen, and building activity returns to normal levels. Through 2024, gains will be supported by:

  • rising new home construction, especially in developing Africa/Mideast and Central and South American countries where the share of homes built with siding is growing
  • increasing personal incomes, which allow for greater spending on renovation projects such as siding replacement
  • ongoing introduction of affordable fiber cement and vinyl siding products, which can be made to resemble high-end materials (e.g., wood, stone) while providing installation and performance advantages

Asia/Pacific, Africa/Mideast, & North America to Drive Global Market Growth Through 2024

Though the Asia/Pacific market will continue to account for the largest share of absolute gains (30%) in global residential siding demand through 2024, weakened new housing activity in the region, particularly in China, will restrain growth at the global level. Similarly, the mature North American market will account for the sizable share of absolute gains (25%) due to increases in residential construction activity, but faster growth will be prevented by tepid homebuilding activity in the US. Meanwhile, the smaller but faster growing Africa/Mideast market will nearly match the Asia/Pacific in its contribution to global demand gains through 2024 due to its stronger residential construction outlook.

Improvement & Repair Applications Continue to Drive Market Growth

Renovation will continue to drive global residential siding demand growth, supported by:

  • the need to replace siding in countries with large, aging building stocks
  • rising personal incomes in the developing countries, which will allow more homeowners to invest in home improvement projects like siding addition

Advances in the new housing market will be restrained by weakness in new housing construction, with declines expected in Europe and Japan, though solid gains in new housing in developing Africa/Mideast and Asia/Pacific countries will aid growth.

Design Flexibility Continues to Affect Material Competition in Developed Markets

Design flexibility is a key driver of material competition in the global siding industry. End users – particularly in developed markets such as the US and Western Europe – seek options that can be made to imitate higher value materials, such as natural stone and wood, while providing additional advantages (e.g., enhanced durability, longer lifespan, lower maintenance requirements, lower costs, easier to install). Fiber cement faces growing competition from PVC lumber in the increasingly saturated wood-look siding market, but the material is also expected to pose greater competition to costly, heavy, and harder to install materials such as natural stone and brick. Fiber cement siding that imitates these materials is increasingly being introduced to the market.


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Table of Contents

1. Executive Summary

2. About This Report

Report Details

Market Scope

Impact of COVID-19 Pandemic

3. Overview

Historical Market Trends

Demand by Product

Demand by Region

Leading Country Markets

Demand by Market Sector

New Residential

Residential Improvement & Repair

Pricing Trends

Leading Producers

4. North America

North America: Demand by Product & Market

North America: Demand by Country

United States

Mexico

Canada

5. Central & South America

Central & South America: Demand by Product & Market

Central & South America: Demand by Country

Brazil

Other Central & South America

6. Western Europe

Western Europe: Demand by Product & Market

Western Europe: Demand by Country

Germany

France

United Kingdom

Italy

Spain

Netherlands

Other Western Europe

7. Eastern Europe

Eastern Europe: Demand by Product & Market

Eastern Europe: Demand by Country

Russia

Poland

Other Eastern Europe

8. Asia/Pacific

Asia/Pacific: Demand by Product & Market

Asia/Pacific: Demand by Country

China

India

Japan

Indonesia

South Korea

Australia

Other Asia/Pacific

9. Africa/Mideast

Africa/Mideast: Demand by Product & Market

Africa/Mideast: Demand by Country

Turkey

Iran

Other Africa/Mideast

10. Appendix

Scope

Definitions

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Country Lists by Region

Macroeconomic Assumptions

Global Economic Environment

Global Population

Global Residential Building Construction Outlook


List of Tables

3. Overview

Table 3-1 | Global Residential Siding Demand, 2009 - 2019 (million square meters)

Table 3-2 | Global Residential Siding Demand by Product, 2009 - 2029 (million square meters)

Table 3-3 | Global Residential Siding Demand by Region, 2009 - 2029 (million square meters)

Table 3-4 | Global Residential Siding Demand by Market, 2009 - 2029 (million square meters)

Table 3-5 | Global Siding Demand in New Residential Construction, 2009 - 2029 (million square meters)

Table 3-6 | Global Siding Demand in Residential Improvement & Repairs, 2009 - 2029 (million square meters)

4. North America

Table 4-1 | North America: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 4-2 | North America: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

Table 4-3 | United States: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 4-4 | Mexico: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 4-5 | Canada: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

5. Central & South America

Table 5-1 | Central & South America: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 5-2 | Central & South America: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

Table 5-3 | Brazil: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 5-4 | Other Central & South America: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

6. Western Europe

Table 6-1 | Western Europe: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 6-2 | Western Europe: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

Table 6-3 | Germany: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 6-4 | France: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 6-5 | United Kingdom: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 6-6 | Italy: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 6-7 | Spain: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 6-8 | Netherlands: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 6-9 | Other Western Europe: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

7. Eastern Europe

Table 7-1 | Eastern Europe: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 7-2 | Eastern Europe: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

Table 7-3 | Russia: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 7-4 | Poland: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 7-5 | Other Eastern Europe: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

8. Asia/Pacific

Table 8-1 | Asia/Pacific: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 8-2 | Asia/Pacific: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

Table 8-3 | China: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 8-4 | India: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 8-5 | Japan: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 8-6 | Indonesia: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 8-7 | South Korea: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 8-8 | Australia: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 8-9 | Other Asia/Pacific: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

9. Africa/Mideast

Table 9-1 | Africa/Mideast: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 9-2 | Africa/Mideast: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

Table 9-3 | Turkey: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 9-4 | Iran: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

Table 9-5 | Other Africa/Mideast: Residential Siding Demand by Product & Market, 2009 - 2029 (million square meters)

10. Appendix

Table 10-1 | Relevant Industry Codes

Table 10-2 | Relevant HS Codes

Table 10-3 | Relevant NACE Codes

Table 10-4 | Countries in North America

Table 10-5 | Countries in Central & South America

Table 10-6 | Countries in Western Europe

Table 10-7 | Countries in Eastern Europe

Table 10-8 | Countries in the Asia/Pacific Region

Table 10-9 | Countries in the Africa/Mideast Region

Table 10-10 | Global Gross Domestic Product by Region & Country, 2009 - 2029 (billion 2018 dollars)

Table 10-11 | Global Population by Region & Country, 2009 - 2029 (million persons)

Table 10-12 | Global Residential Building Construction Expenditures by Region & Country, 2009 - 2029 (billion 2018 dollars)


List of Figures

1. Executive Summary

Figure 1-1 | Global Residential Siding Market Outlook

3. Overview

Figure 3-1 | Global Residential Siding Demand, 2009 - 2019 (million square meters)

Figure 3-2 | Global Residential Siding Demand by Product, 2009 - 2029 (million square meters)

Figure 3-3 | Global Residential Siding Demand by Region, 2009 - 2029 (million square meters)

Figure 3-4 | Global Residential Siding: Leading Country Markets, 2019 (million square meters)

Figure 3-5 | Global Residential Siding Demand by Market, 2009 - 2029 (million square meters)

4. North America

Figure 4-1 | North America: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

5. Central & South America

Figure 5-1 | Central & South America: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

6. Western Europe

Figure 6-1 | Western Europe: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

7. Eastern Europe

Figure 7-1 | Eastern Europe: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

8. Asia/Pacific

Figure 8-1 | Asia/Pacific: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

9. Africa/Mideast

Figure 9-1 | Africa/Mideast: Residential Siding Demand by Country, 2009 - 2029 (million square meters)

10. Appendix


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