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This study analyzes global demand for vinyl siding. Historical demand (2009, 2014, and 2019) and forecasts for 2024 and 2029 are provided for siding demand by market (in dollars and square meters) and market (in square meters). Siding demand is also provided on a country-by-country basis (in square meters and dollars). Demand in value terms is shown at the manufacturers’ level and excludes distributor and retailer markups.
The residential building and nonresidential building segments are analyzed at the global, region, and country levels.
Vinyl siding encompasses siding made from polyvinyl chloride (PVC). Siding made using other resins (e.g., polypropylene, PE, “polymer siding”) are excluded from the scope of this study.
Demand by Region
Demand for vinyl siding is expected to rise 1.4% annually through 2024 to 397 million square meters. Vinyl siding has been popular in the US and Canada, where it is specified because of its ability to mimic the appearance of other materials such as wood while offering better performance, as it is weatherproof, insect-proof, and fade-resistant.
Growth for vinyl siding worldwide will be driven by:
rising new housing construction in the US, where vinyl is the most commonly used siding product
the large stock of homes with older, less attractive vinyl siding; many homeowners will opt to replace these older materials with newer products that more closely resemble natural wood
growth in building construction in the large Asia/Pacific and Africa/Mideast regions, which will support demand growth despite vinyl’s small share of siding demand in those areas
Demand gains will be restricted by:
competition from products with greater design flexibility such as fiber cement in the US and Canada, where vinyl is used most intensively
the high durability of vinyl siding, limiting replacement sales
environmental concerns about PVC promoting use of alternative materials in applications where sustainability is a priority
Through 2024, average vinyl siding prices are expected to rise 1.5% annually to about $6 per square meter, supported by:
across-the-board price inflation due to expected increase in raw material costs
healthy demand for siding products, which will give manufacturers more ability to respond to increased costs by raising prices
Brick and tile are expected to continue to account for the largest share of siding, due to aesthetic preferences, durability, and the worldwide availability of these products.
Concrete and stone siding, followed by stucco, will continue to account for the second and third largest shares of siding demand, respectively, due in part to the popularity of these materials in both developed and developing countries.
Metal will continue to increase its share of the global siding market, driven by growth in nonresidential building construction, where metal siding is more commonly specified because of its durability.
Fiber cement siding market advances will be supported by the rising popularity of these products in major markets such as China and the US because of its relatively low cost and ability to mimic the look of more expensive materials.
Demand by Market
Through 2024, residential demand will continue to drive vinyl siding market growth despite residential sales decelerating sharply from the 2014-2019 period. The residential market accounts for the vast majority of vinyl siding demand, supported by the ability of these products to resemble natural wood siding while providing enhanced durability, extended lifespan, and water resistance.
Nonresidential demand will continue to be restricted mostly to light commercial construction applications when a residential look is desired. However, vinyl faces significant competition from fiber cement in this segment.
Global demand for vinyl siding is expected to rise 1.4% annually through 2024 to 397 million square meters, driven by:
rising new housing construction in the massive US market, where vinyl is the most commonly used siding product
increases in residential improvement and repair activity in the US and Canada, the two largest markets for vinyl siding in the world by far
the large stock of homes with older, less attractive vinyl siding; many homeowners will opt to replace these older materials to freshen the appearance of their homes
growth in building construction in the large Asia/Pacific and Africa/Mideast regions, which will support market expansion despite vinyl’s small share of siding demand in those areas
Further gains will be restrained by:
competition from products with greater design flexibility (such as fiber cement) in the US and Canada, where vinyl is used most intensively
environmental concerns about PVC, which are promoting use of alternative materials in projects where sustainability is a priority
the entrenched position of brick, stone, and metal in developing countries, as these materials are highly durable and widely available
regulations requiring more fireproof and durable materials, particularly in Japan and Western Europe, keeping opportunities in these areas small
US & Canada to Remain Dominant National Markets
The US and Canada account for 73% of global demand for vinyl siding, with the US alone accounting for 65% of the market. Intense intermaterial competition exists in these markets, which has lead vinyl products to lose some share in recent years:
Many homeowners in these countries continue to look for ways to differentiate their homes, which has led to increased use of alternative siding materials, particularly stone.
Fiber cement has benefitted from its ability to better mimic higher value materials as well as its fire resistance, which appeals to safety-conscious consumers.
However, vinyl will remain commonly used throughout the US and Canada, due in part to its affordability and widespread culture acceptance of the material. Additionally, vinyl is commonly used in conjunction with stone and brick veneer to provide an upscale and unique appearance with varied colors and textures.
Expanding Prefabricated Housing Markets in Developing Countries Offer Opportunities
Outside of the US and Canada, the best opportunities of vinyl siding are in areas – such as India as well as Brazil, Chile, and other countries in Central and South America – where prefabricated housing is growing in popularity. Vinyl is lightweight and relatively inexpensive, which makes it ideal for use on prefabricated units, which benefit from their affordability and must be shipped to their final installation site. These qualities will allow vinyl to compete with brick, stone, and metal in areas where these heavier materials have traditionally been preferred.