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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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