by Bethan Davis
March 13, 2024
Compared to other siding materials like wood, brick, or fiber cement, vinyl is often the most budget-friendly option.
In the realm of home improvement, few elements play as crucial a role as siding. Not only does it enhance the aesthetic appeal of a home, but it also provides protection against the elements, insulation, and durability. Siding demand in the US is expected to see modest growth, with an annual average increase of less than 1.0% to 106.8 million squares by 2027. This growth will be restrained by a decline in conventional housing starts since 2022, although it will be partially offset by a resurgence in the commercial market due to new institutional, office, and industrial constructions. Despite this, demand value is projected to rise annually by 1.4% to $16.0 billion by 2027, a notable slowdown compared to the previous period due to moderating prices for most siding products after supply chain disruptions and high raw material costs. Within the siding industry, one material has consistently stood out as the top choice among homeowners and contractors alike: vinyl. Let's delve into the reasons behind its enduring popularity.
Low Maintenance - Vinyl is resistant to rot, corrosion, insects, and weathering, making it a long-lasting solution for exterior cladding. Unlike wood siding, which requires regular painting, staining, and sealing to maintain its integrity, vinyl siding retains its color and finish for years with minimal upkeep. A simple occasional wash with soap and water is typically all that's needed to keep vinyl siding looking pristine, saving homeowners both time and money in maintenance costs over the long term.
Affordability - Compared to other siding materials like wood, brick, or fiber cement, vinyl is often the most budget-friendly option. Its relatively low manufacturing and installation costs make it an attractive choice for homeowners looking to enhance their home's appearance without breaking the bank. Additionally, the cost-effectiveness of vinyl siding extends beyond the initial investment, as its durability and low maintenance requirements translate to further savings over time.
Versatility in Design - Whether you prefer the classic look of traditional clapboard siding or the sleek appearance of vertical panels, vinyl siding comes in a variety of styles, colors, and textures to complement any home design. Additionally, advancements in manufacturing techniques have allowed for the creation of vinyl siding that convincingly mimics the appearance of natural materials like wood, stone, and cedar shakes, providing homeowners with even more versatility in design choices.
Energy Efficiency - Vinyl siding, when properly installed with insulation, can contribute to improved energy efficiency by reducing thermal bridging and heat loss through exterior walls. Many vinyl siding products now feature built-in insulation options, further enhancing their ability to regulate indoor temperatures and reduce heating and cooling costs.
Environmental Sustainability - Vinyl siding is highly recyclable, with many manufacturers incorporating recycled content into their products. Additionally, its durability and low maintenance requirements contribute to a longer lifespan, reducing the need for frequent replacement and the associated environmental impact of manufacturing new materials.
While vinyl siding reigns supreme in the siding industry, it does face competition from several alternative materials. Fiber cement siding, for instance, offers durability and a natural wood-like appearance without the susceptibility to rot and pests. Wood siding, cherished for its timeless aesthetic, appeals to homeowners seeking a traditional look and the ability to customize through staining or painting. Additionally, engineered wood siding combines the appeal of wood with enhanced durability and resistance to moisture. Brick and stone veneer siding provide a premium, upscale appearance, albeit at a higher cost. Each of these competitors presents unique advantages and appeals to different segments of the market, contributing to a diverse landscape within the siding industry.
Vinyl siding is anticipated to gain market share over the forecast period, thanks to advancements in its performance and appearance. With an annual average growth rate of 2.0%, vinyl siding demand is predicted to reach 26.2 million squares by 2027, contributing to a market value increase of 2.6% annually to $2.4 billion by the same year, albeit hindered by declining prices from elevated 2022 levels. As inflationary pressures ease and supply chain issues subside, the price for vinyl siding is forecast to decelerate significantly from a high base through 2027.
To learn more about the siding industry in the United States, consider Freedonia Group’s new study, “US Siding”. This report covers impacting factors of the siding industry, industry forecasts, expert market analysis, and more!
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