The global siding market has been manifesting a persistent growth on account of soaring residential and non-residential construction activities in Asia Pacific, primarily in India and China, followed by residential refurbishment in Northern and Eastern Europe. Also, the gradual revival of housing construction in the United States and Canada are acting as a major growth driver for the global siding market. Harsh climatic conditions including prolonged winters, followed by an increasing focus on improving home aesthetics is pushing the sales of siding (cladding) in both the regions.
According to the MarkNtel Advisors’ research report, “Global Siding Market, Analysis, 2020”, the global siding market is anticipated to grow at a CAGR of around 4.2% during 2020-25 exceeding USD115 billion by 2025.
North America and Europe are set to maintain their dominance in the global market with the aggregate market share exceeding 70% in 2019. The United States, the UK, France, Germany, Canada, Scandinavia, and China were the major geographies grabbing considerable market share in the same year. However, India and GCC are the emerging hotspots for the siding market. The growing customer traction towards home décor and enhancing the overall imagery is projected to boost the siding market in these regions.
Fiber Cement to Continue to Grab the Considerable Market Share
Fiber Cement on account of its exceptional durability and appeal would continue to grab the majority market share in the global siding market. The rigidity of fiber cement to withstand tough climatic conditions coupled with cost competitiveness makes fiber cement a preferred siding (cladding) material in Europe and North America, revealed by MarkNtel Advisors’ in its research report, “Global Siding Market, Analysis, 2020”. Fiber Cement is increasingly replacing wood and vinyl in the residential sector. Therefore, the market share of both categories is expected to exhibit a decline in the forthcoming years.
Complete Dominance of European and American Companies
According to MarkNtel Advisors’, the key players operating in the James Hardle, Kingspan Group, Lixil, Nichiha, Weinerberger, Compagnie De Saint-Gobain S.A., Cornerstone Building, Louisiana Pacific, Westlake Chemical, ETEX Group. During 2015-19, the global siding market had been quite vibrant. The companies are seeking opportunities to expand their product line, acquire new customers and grow their geographical penetration through organic and inorganic growth. The market witnessed several acquisition such as Louisiana-Pacific acquiring a prefinished siding companyt Prefinished Staining Product Incorporated (PSPI) in 2019, Décor Cladding Centre was acquired by Amicus in 2014, Eagle Creek Siding’s asset acquired by Homewood Holdings, etc.
"Global Siding (Cladding) Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for Siding (Cladding) Market manufacturers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
Industry Segmentation:
1. By Type of Material (Fiber Cement, Wood, Vinyl, Brick & Tiles, Concrete & Stones, Metal, Others))
2. By Application (Residential, Commercial)
3. By Geographic Region (North America, South America, Europe, Middle East, Africa, Asia Pacific)
4. By Countries (US, Canada, Mexico, Brazil, Chile, Peru, Colombia, Argentina, Germany, France, UK, Spain, Italy, Poland, Russia & CIS, South Africa, Nigeria, UAE, Saudi Arabia, Qatar, China, India, South East Asia, Australia, Japan, Others)
5. By Competitors (James Hardle, Kingspan Group, Lixil, Nichiha, Weinerberger, Compagnie De Saint-Gobain S.A., Cornerstone Building, Louisiana Pacific, Westlake Chemical, ETEX Group, etc.)
Key questions answered in the study:
1. What are the current and future trends of the Global Siding (Cladding) Market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Global Siding (Cladding) Market?
6. What are the customer orientation, purchase behavior, and expectations from the Siding (Cladding) Market Manufacturers across various regions?