Siding Market Revenue Poised for Significant Growth During the Forecast Period of 2020-2027
The global siding market is projected to reach USD 118.50 Billion by 2027, according to a current analysis by Emergen Research. Key factors driving the market include shift in lifestyle of consumers and rising population worldwide.
The global siding market is expected to remain in a highly competitive and fragmented landscape in the near future, consisting of several small start-ups, medium enterprises, and large conglomerates. During the forecast period, the market is likely to be driven by increasing population and increased purchasing power of people worldwide.
Vinyl siding has long lifespan if it is maintained properly. Engineered and designed primarily from PVC (polyvinyl chloride) resin, vinyl siding is useful in the construction of houses. It eliminates the need for yearly painting and maintenance. Vinyl siding costs as less as 12% than cedar siding and approximately 27% less than aluminum siding. Vinyl siding is available in different colors. The latest vinyl siding type available in the marketplace does not fade for a long period.
Further Key Findings from the Report Suggest:
- Westlake Chemical acquired NAKAN, a PVC compounding solutions company based in France. NAKAN’s products are used in various industries, including automotive, building & construction, and medical.
- Based on application, the market has been classified into residential & non-residential. The residential segment is projected to register a growth rate of 4.3% during the forecast period. Rapid urbanization, increase in per capita income, and changing lifestyle are some of the key factors boosting the residential segment.
- According to the U.S. Environmental Protection Agency (EPA), emissions of human-based dioxin have declined by more than 90% since 1990. At the same time, the production of vinyl, especially vinyl siding, has risen significantly.
- North America is projected to dominate the global siding market during the forecast period. Various rules and regulations imposed by the statutory authorities, inclination toward modern décor, and availability of cost-effective materials are major factors driving the siding market in North America. The U.S. is expected to lead the market in the region during the forecast period.
It provides a comprehensive assessment of market size, market share, revenue growth, and regional spread of the siding market. It offers an extensive assessment of key trends, technological developments, product advancements, key research and development activities, and demand for the products of the siding market that are expected to contribute to revenue growth of the market going ahead.
Key players operating in the siding market include James Hardie Limited Plc, Westlake Chemical, Compagnie de Saint-Gobain S.A., Boral Limited, Cornerstone Building Brands, Etex Group, Louisiana Pacific Corporation, Nichiha Corporation, and Docke Extrusion Co. Ltd, Kingspan Group
The report is further segmented into the major regions of the world with regards to production and consumption patterns, import/export, market size and share, revenue contribution, growth rate, and supply and demand ratio for the forecast period 2021-2028. It also analyzes the revenue growth, key factors impacting the market growth in each region, regulatory framework, economic growth, consumer demand, and presence of key companies.
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