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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)
© by The Freedonia Group, a division of MarketResearch.com