According to the recent study the siding market is projected to reach an estimated $107.8 billion by 2024, at a CAGR of 4.3% from 2020 to 2025. Growth in this market is primarily driven by increasing construction activities, growing repair and maintenance of building exteriors, and a rise in the hospitality industry.
Browse 148 figures / charts and 111 tables in this 205 -page report to understand trends, opportunities and forecast in siding market by material (fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and others), end use (residential and non-residential), application (new construction and repair and maintenance), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Vinyl market is expected to remain the largest segment during the forecast period.”
Based on material, the siding market is segmented into fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and others. Lucintel forecasts that the vinyl is expected to witness the largest segment over the forecast period due low material and maintenance cost and availability of wide variety of colors and fiber cement will witness the highest growth during the forecast period due to its eco-friendly nature and fire-resistant property.
“Within the siding market, the non-residential segment is expected to remain the largest end use”
Based on end use, the non-residential segment is expected to witness the largest end use industry over the forecast period due to growth in retail and office buildings and residential construction is expected to witness the highest growth during the forecast period due to increasing adoption of energy efficient homes.
“Asia Pacific will dominate the siding market in near future”
Asia Pacific is expected to be the largest region over the forecast period and witness the highest growth over the forecast period supported by increasing urbanization and building construction activities.
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Major players of siding market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Kingspan, James Hardie, Nichiha, Ply Gem, Louisiana Pacific, Georgia Pacific Vinyl Siding, Revere Building Products, and Lixil Group Corporation and others are among the major siding providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/siding-market.aspx or [email protected]
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