Study #: 3775 | Published: 10/2019 | Pages: 183 | Individual User License: US$ 5,800

Siding demand in the US is forecast to increase 2.0% annually through 2023 to 105.8 million squares. Demand growth will be driven by rising home renovation activity, increases in new housing construction, and an expansion in commercial building construction activity, especially for offices, industrial buildings, and restaurants.

Vinyl to Remain the Largest Siding Material Segment

Vinyl will continue to account for the largest share of siding demand due to its widespread use in the single-family housing market, where the material has been used historically because of its low cost and ability to mimic natural wood siding while providing greater durability and requiring less maintenance. The high stock of homes with vinyl siding will also support replacement demand, as homeowners often replace their existing siding with the same materials.

Competition between Wood-Look Materials to Intensify

Going forward, manufacturers of several different siding materials will attempt to increase their share of the wood-look siding market. Over the past decade, fiber cement siding has significantly raised its share of this market due to its durability and ability to provide the natural wood aesthetic more effectively than vinyl products. Fiber cement will continue to increase its share, though the pace of growth will moderate as product improvements from vinyl manufacturers will make them more competitive.

Rising Installation Costs to Impact Siding Material Selection

Low unemployment and older contractors aging out of the construction profession will lead to strong growth in wages in this industry, increasing installation costs and pushing up the total cost of siding to consumers. As a result, building owners will increasingly opt for materials that are easier to install to limit total cost. This will boost demand for lightweight materials such as fiber cement, manufactured stone, and composites, which can provide the look of heavier, difficult to install materials like brick, concrete, and natural stone.

Study Coverage

This Freedonia study analyzes the US siding market. It presents historical demand (2008, 2013, 2018) and forecasts for 2023 and 2028 by material (vinyl, fiber cement, wood, stucco, brick, concrete and stone, metal panels, and other) in squares and current dollars; market (new residential, residential renovation, new commercial, commercial renovation); and region (Northeast, Midwest, South, West) in squares. In addition, the study presents company market share for competitors such as Acme Brick, Boral, CertainTeed, Cornerstone Building Products, James Hardie, and Louisiana-Pacific.


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Table of Contents

1. Executive Summary

2. Overview

Key Findings

Supply & Demand

Foreign Trade

Historical Market Trends

Siding Demand by Market

Pricing Trends

3. Factors Affecting Siding Demand

Construction Industry Outlook

Regulatory & Environmental Trends

Sustainability

Green Building Standards (ICC Codes & LEED)

Recycling

Other Regulatory Issues

Improved Product Performance

Products That Mimic Other Materials

Style Trends & Curb Appeal

Labor Shortages

Tariffs

4. Materials

Key Findings

Siding Demand by Material

Area Demand (Squares)

Value Demand

Vinyl

Vinyl: Demand Outlook

Vinyl: Demand by Market

Vinyl: Leading Suppliers & Market Share by Company

Fiber Cement

Fiber Cement: Demand Outlook

Fiber Cement: Demand by Market

Fiber Cement: Leading Suppliers & Market Share by Company

Stucco

Stucco: Demand Outlook

Stucco: Demand by Market

Stucco: Leading Suppliers

Wood

Wood: Demand Outlook

Wood: Demand by Type (Engineered Wood & Wood Shingles & Shakes)

Wood: Demand by Market

Wood: Leading Suppliers

Brick

Brick: Demand Outlook

Brick: Demand by Market

Brick: Leading Suppliers

Concrete & Stone

Concrete & Stone: Demand Outlook

Concrete & Stone: Demand by Type (Concrete, Manufactured Stone, & Natural Stone)

Concrete & Stone: Demand by Market

Concrete & Stone: Leading Suppliers

Metal Panels

Metal Panels: Demand Outlook

Metal Panels: Demand by Market

Metal Panels: Leading Suppliers

Other Materials (EIFS, Steel & Aluminum, Polypropylene, Composites)

EIFS, Steel & Aluminum, Polypropylene, Composites: Demand Outlook

EIFS, Steel & Aluminum, Polypropylene, Composites: Demand by Type

EIFS, Steel & Aluminum, Polypropylene, Composites: Demand by Market

EIFS, Steel & Aluminum, Polypropylene, Composites: Leading Suppliers

5. Residential Buildings

Key Findings

Residential: Demand by Material

Residential: Demand by Application

New vs. Renovation Demand

New Residential

Residential Renovation

Residential: Housing Types

Demand by Housing Type

Single-Family

Multifamily

Manufactured Housing

6. Commercial Buildings

Key Findings

Commercial: Demand by Material

Commercial: Demand by Application

New vs. Renovation Demand

New Commercial

Commercial Renovation

Commercial: Building Types

Demand by Building Type

Institutional

Retail & Lodging

Office

Industrial

Other Commercial Buildings

7. Regions

Key Findings

Demand by Region

Northeast

Northeast: Demand by Market

Northeast: Demand by Material

Northeast: Demand by Subregion (New England & Middle Atlantic)

Midwest

Midwest: Demand by Market

Midwest: Demand by Material

Midwest: Demand by Subregion (East North Central & West North Central)

South

South: Demand by Market

South: Demand by Material

South: Demand by Subregion (South Atlantic, East South Central, West South Central)

West

West: Demand by Market

West: Demand by Material

West: Demand by Subregion (Mountain & Pacific)

8. Industry Structure

Key Findings

Market Share

Manufacturing

Marketing

Distribution

Cooperative Agreements

Mergers & Acquisitions

List of Industry Participants

9. Appendix

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Building Construction

Residential Building Construction

Residential Improvements & Repairs

Commercial Building Construction

Commercial Building Improvements & Repairs

Housing Completions

Housing Stock


List of Tables

2. Overview

Table 2-1 | Siding Supply & Demand, 2008 - 2028 (million dollars)

Table 2-2 | Siding Demand Trends, 2008 - 2018 (million squares)

Table 2-3 | Siding Demand by Market, 2008 - 2028 (million squares & million dollars)

Table 2-4 | Siding Average Prices, 2008 - 2028 (dollars per square)

3. Factors Affecting Siding Demand

Table 3-1 | Construction Expenditures, 2008 - 2023 (billion 2012 dollars & billion dollars)

4. Materials

Table 4-1 | Siding Demand by Material, 2008 - 2028 (million squares)

Table 4-2 | Siding Demand by Material, 2008 - 2028 (million dollars)

Table 4-3 | Vinyl Siding Demand, 2008 - 2028 (million squares & million dollars)

Table 4-4 | Vinyl Siding Demand by Market, 2008 - 2028 (million squares)

Table 4-5 | Fiber Cement Siding Demand, 2008 - 2028 (million squares & million dollars)

Table 4-6 | Fiber Cement Siding Demand by Market, 2008 - 2028 (million squares)

Table 4-7 | Stucco Siding Demand, 2008 - 2028 (million squares & million dollars)

Table 4-8 | Stucco Siding Demand by Market, 2008 - 2028 (million squares)

Table 4-9 | Wood Siding Demand, 2008 - 2028 (million squares & million dollars)

Table 4-10 | Wood Siding Demand by Type, 2008 - 2028 (million squares & million dollars)

Table 4-11 | Wood Siding Demand by Market, 2008 - 2028 (million squares)

Table 4-12 | Brick Siding Demand, 2008 - 2028 (million squares & million dollars)

Table 4-13 | Brick Siding Demand by Market, 2008 - 2028 (million squares)

Table 4-14 | Concrete & Stone Siding Demand, 2008 - 2028 (million squares & million dollars)

Table 4-15 | Concrete & Stone Siding Demand by Type, 2008 - 2028 (million squares)

Table 4-16 | Concrete & Stone Siding Demand by Market, 2008 - 2028 (million squares)

Table 4-17 | Metal Panel Siding Demand, 2008 - 2028 (million squares & million dollars)

Table 4-18 | Metal Siding Demand by Market, 2008 - 2028 (million squares)

Table 4-19 | Other Siding Demand, 2008 - 2028 (million squares & million dollars)

Table 4-20 | Other Siding Demand by Type, 2008 - 2028 (million squares)

Table 4-21 | Other Siding Demand by Market, 2008 - 2028 (million squares)

5. Residential Buildings

Table 5-1 | Residential Siding Demand by Material, 2008 - 2028 (million squares)

Table 5-2 | Residential Siding Demand by Application, 2008 - 2028 (million squares)

Table 5-3 | New Residential Siding Demand by Material, 2008 - 2028 (million squares)

Table 5-4 | Residential Renovation Siding Demand by Material, 2008 - 2028 (million squares)

Table 5-5 | Residential Siding Demand by Housing Type, 2008 - 2028 (million squares)

6. Commercial Buildings

Table 6-1 | Commercial Siding Demand by Material, 2008 - 2028 (million squares)

Table 6-2 | Commercial Siding Demand by Application, 2008 - 2028 (million squares)

Table 6-3 | New Commercial Siding Demand by Material, 2008 - 2028 (million squares)

Table 6-4 | Commercial Renovation Siding Demand by Material, 2008 - 2028 (million squares)

Table 6-5 | Commercial Siding Demand by Building Type, 2008 - 2028 (million squares)

7. Regions

Table 7-1 | Siding Demand by Region, 2008 - 2028 (million squares)

Table 7-2 | Northeast: Siding Demand by Market, 2008 - 2028 (million squares)

Table 7-3 | Northeast: Siding Demand by Material, 2008 - 2028 (million squares)

Table 7-4 | Northeast: Siding Demand by Subregion, 2008 - 2028 (million squares)

Table 7-5 | Midwest: Siding Demand by Market, 2008 - 2028 (million squares)

Table 7-6 | Midwest: Siding Demand by Material, 2008 - 2028 (million squares)

Table 7-7 | Midwest: Siding Demand by Subregion, 2008 - 2028 (million squares)

Table 7-8 | South: Siding Demand by Market, 2008 - 2028 (million squares)

Table 7-9 | South: Siding Demand by Material, 2008 - 2028 (million squares)

Table 7-10 | South: Siding Demand by Subregion, 2008 - 2028 (million squares)

Table 7-11 | West: Siding Demand by Market, 2008 - 2028 (million squares)

Table 7-12 | West: Siding Demand by Material, 2008 - 2028 (million squares)

Table 7-13 | West: Siding Demand by Subregion, 2008 - 2028 (million squares)

8. Industry Structure

Table 8-1 | US Siding Sales by Company, 2018 (million dollars)

Table 8-2 | Selected Cooperative Agreements

Table 8-3 | Selected Mergers & Acquisitions

Table 8-4 | Selected Industry Participants

9. Appendix

Table 9-1 | Study Scope: US Geographic Regions & Subregions

Table 9-2 | Relevant Industry Codes

Table 9-3 | Relevant HS Codes

Table 9-4 | Abbreviations & Acronyms Used in Study

Table 9-5 | Macroeconomic Indicators, 2008 - 2028 (billion 2012 dollars)

Table 9-6 | Building Construction Expenditures, 2008 - 2028 (billion 2012 dollars)

Table 9-7 | Residential Building Construction Expenditures, 2008 - 2028 (billion 2012 dollars)

Table 9-8 | Residential Improvement & Repair Expenditures, 2008 - 2028 (billion 2012 dollars)

Table 9-9 | Commercial Building Construction Expenditures, 2008 - 2028 (billion 2012 dollars)

Table 9-10 | Commercial Building Improvement & Repair Expenditures, 2008 - 2028 (billion 2012 dollars)

Table 9-11 | Housing Completions, 2008 - 2028 (thousand units)

Table 9-12 | Housing Stock by Type, 2008 - 2028 (million units)


List of Figures

1. Executive Summary

Figure 1-1 | Key Trends in the US Siding Market

2. Overview

Figure 2-1 | Key Trends in the US Siding Market

Figure 2-2 | Siding Demand & Building Construction Annual Growth, 2008 - 2018 (million squares & billion 2012 dollars)

Figure 2-3 | Siding Demand Share by Market, 2008 - 2028 (million squares)

Figure 2-4 | Residential Siding vs. Commercial Siding Area Demand Growth, 2008 - 2018 (percent change)

4. Materials

Figure 4-1 | Siding Materials Overview

Figure 4-2 | Siding Demand Share by Material, 2008 - 2028 (million squares)

Figure 4-3 | Siding Demand Share by Material, 2018 (million squares & billion dollars)

Figure 4-4 | Vinyl Siding Demand, 2008 - 2023 (million squares)

Figure 4-5 | Vinyl Siding Demand Share by Market, 2008 - 2023 (million squares)

Figure 4-6 | Vinyl Siding Market Share by Company, 2018 (billion dollars)

Figure 4-7 | Fiber Cement Siding Demand, 2008 - 2023 (million squares)

Figure 4-8 | Fiber Cement Siding Demand Share by Market, 2008 - 2023 (million squares)

Figure 4-9 | Fiber Cement Siding Market Share by Company, 2018 (billion dollars)

Figure 4-10 | Stucco Siding Demand, 2008 - 2023 (million squares)

Figure 4-11 | Stucco Siding Demand Share by Market, 2008 - 2023 (million squares)

Figure 4-12 | Wood Siding Demand, 2008 - 2023 (million squares)

Figure 4-13 | Wood Siding Demand Share by Market, 2008 - 2023 (million squares)

Figure 4-14 | Brick Siding Demand, 2008 - 2023 (million squares)

Figure 4-15 | Brick Siding Demand Share by Market, 2008 - 2023 (million squares)

Figure 4-16 | Concrete & Stone Siding Demand, 2008 - 2023 (million squares)

Figure 4-17 | Concrete & Stone Siding Demand Share by Market, 2008 - 2023 (million squares)

Figure 4-18 | Metal Panel Siding Demand, 2008 - 2023 (million squares)

Figure 4-19 | Metal Panel Siding Demand Share by Market, 2008 - 2023 (million squares)

Figure 4-20 | Other Siding Demand, 2008 - 2023 (million squares)

Figure 4-21 | Other Siding Demand Share by Market, 2008 - 2023 (million squares)

5. Residential Buildings

Figure 5-1 | Residential Siding Market

Figure 5-2 | Residential Siding Demand, 2008 - 2023 (million squares)

Figure 5-3 | Vinyl & Fiber Cement Share of Residential Siding Market, 2008 - 2023 (million squares)

Figure 5-4 | New Residential Siding Demand, 2008 - 2018 (percent annual change)

Figure 5-5 | Single-Family Siding Demand, 2008 - 2023 (million squares)

Figure 5-6 | Multifamily Siding Demand, 2008 - 2023 (million squares)

Figure 5-7 | Manufactured Housing Siding Demand, 2008 - 2023 (million squares)

6. Commercial Buildings

Figure 6-1 | Commercial Siding Market

Figure 6-2 | Commercial Siding Demand, 2008 - 2023 (million squares)

Figure 6-3 | Institutional Siding Demand, 2008 - 2023 (million squares)

Figure 6-4 | Retail & Lodging Siding Demand, 2008 - 2023 (million squares)

Figure 6-5 | Office Siding Demand, 2008 - 2023 (million squares)

Figure 6-6 | Industrial Siding Demand, 2008 - 2023 (million squares)

Figure 6-7 | Other Commercial Building Siding Demand, 2008 - 2023 (million squares)

7. Regions

Figure 7-1 | Siding Regional Overview

Figure 7-2 | Siding Demand Share by Region, 2018 (million squares)

Figure 7-3 | Northeast Siding Demand Share by Material, 2018 (million squares)

Figure 7-4 | Midwest Siding Demand Share by Material, 2018 (million squares)

Figure 7-5 | South Siding Demand Share by Material, 2018 (million squares)

Figure 7-6 | West Siding Demand Share by Material, 2018 (million squares)

8. Industry Structure

Figure 8-1 | US Siding Market Share by Company, 2018 (billion dollars)

Figure 8-2 | US Siding Market: Leading Supplier, 2018

Figure 8-3 | US Siding Market: Second Leading Supplier, 2018

Figure 8-4 | US Siding Market: Third Leading Supplier, 2018

Figure 8-5 | US Siding Market: Fourth Leading Supplier, 2018

Figure 8-6 | US Siding Market: Fifth Leading Supplier, 2018

Figure 8-7 | US Siding Market: Sixth Leading Supplier, 2018

9. Appendix

Figure 9-1 | Annual Growth in Real GDP, 2000 - 2018, Compared to 1980 - 2005 Average (percent)

Figure 9-2 | Housing Stock by Year of Construction, 2018 (percent)


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