Siding - Demand and Sales Forecasts, Market Share, Market Size, Market Leaders

Study #: 4152 | Published: 12/2021 | Pages: 238 | Individual User License: US$ 5,800

Demand for siding in the US is projected to increase from an elevated 2020 base at an average rate of 1.4% annually through 2025 to 103 million squares. All gains are expected in the early part of the forecast, as housing construction and residential renovation remain high following strong spending that began in the second half of 2020. Siding sales to the this market will weaken in the later part of the forecast as residential construction moderates from these highs, but a strengthening of commercial construction will provide opportunities during that time.

Over the long term, market growth in value terms will come almost equally from increases in volume demand and in average prices, which will result from higher costs for individual siding types and a shift in toward higher value products. However, as manufacturers work to create products with enhanced durability, replacement demand will be restrained.

Product Improvements Allow Vinyl to Avert Further Share Losses & Remain Leading Material

Vinyl has long been the most commonly used siding material in the US, particularly in the Northeast and Midwest regions, and is expected to retain that leading position based mainly on its low cost and ready availability. However, other materials – primarily fiber cement – continue to erode the market base for vinyl siding, in part because many consumers are looking for ways to differentiate the appearance of their homes and to improve the curb appeal through installation of siding that looks more natural than vinyl.

In order to maintain relevance in the midst of these design trends, vinyl siding manufacturers continue to improve the appearance of these products. Additionally, they can benefit from marketing their products in new ways that appeal to design trends that call for unique aesthetics. For example, they can promote installation of vinyl products as vertical (rather than horizontal) panels to provide visual contrast and a more high-end look.

Fiber Cement Siding to Continue to Gain Market Share in Residential Market

Fiber cement is expected to gain market share – primarily at the expense of engineered wood – due to its superior durability, ability to create texture, and improvements to product aesthetics. Fiber cement will also take share from brick siding with the growing popularity of lightweight imitation brick products. Additionally, the eco-friendly nature of fiber cement siding will appeal to consumers who prefer to use green products.

The bulk of these gains will come from single-family homes, as major fiber cement manufacturers increasingly tailor their products to this market, where the margins are higher and aesthetics are more important. Additionally, the development of improved imitation stucco siding made from fiber cement will offer further opportunities for gains, as the stucco aesthetic is popular in regions of the country with strong construction industries, primary the South and Southwestern areas of the US.

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1. Executive Summary

2. COVID-19 Pandemic

Overview

Impact on the Economy

Impact on the Construction Industry

Impact on the Siding Industry

3. Overview

Study Scope

Historical Trends

Supply & Demand

Foreign Trade

Demand by Material

Area Demand (Squares)

Value Demand

Demand by Market

Pricing Patterns

4. Factors Impacting Siding Demand

Construction Industry Outlook

Regulations & Standards

Environmental Issues

Building Codes

Health & Safety

Green Building Standards (ICC Codes & LEED)

Industry Standards

Sustainability Initiatives

Recycling & Recycled Content

Energy Efficient Production & Transportation

Product Trends

Improved Product Performance

Products That Mimic Other Materials

Style Trends & Curb Appeal

Labor Shortages

Tariffs

5. Vinyl Siding

Scope & Product Description