February 11, 2021
According to the research report titled ‘Global Siding Market Analysis, 2020’, available with Market Study Report LLC, global siding market size is projected to expand at 4.2% CAGR during 2020-2025, subsequently amassing a valuation of USD 115 billion by the end of the stipulated timeframe.
Industry experts state that global siding market growth is driven by proliferation of home refurbishment and construction activities. In addition, shifting preferences towards safeguarding exterior walls and improving wall insulation from heat gain and loss, along with increasing building codes and certification are contributing to overall market expansion.
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Proceeding further, the latest report on global siding market entails all other aspects that are positively or negatively impacting the industry landscape, so as to guide businesses, marketers, and other industry participants in making well-informed decisions that will guarantee success in the coming years. Moreover, it hosts in-depth segmentation studies to provide a holistic view of the overall market size.
Based on type of material, global siding market is split into metal, concrete & stones, brick & tiles, vinyl, wood, and fiber cement. The fiber cement segment is expected to continue representing a major portion of the industry share in the coming years. On the other hand, over the past few years, the use of wood and vinyl in siding has been registering a downward trend due to lower quality and higher costs as compared to fiber cement.
With respect to application scope, the industry is segmented into commercial and residential.
Considering the geographical terrain, a major portion of global siding industry share was acquired by North America and Europe in 2019, followed by Asia-Pacific and others. Growing investment in residential and commercial construction activities in Asia-Pacific will offer enormous opportunities for global suppliers to extend their footprint in the region.
As per the report, the country-level bifurcation of worldwide siding industry consists of Australia, Japan, India, China, Egypt, South Africa, UAE, Qatar, Saudi Arabia, Poland, Italy, France, Germany, Poland, and UK.
The competitive landscape of global siding market sphere is defined by major companies like ETEX Group, Westlake Chemical Corporation, Louisiana Pacific Corporation, Cornerstone Building Brands, Compagnie De Saint-Gobain S.A., Wienerberger AG, Nichiha, Inc., Lixil Group Corporation, Kingspan Group plc, and James Hardie Building Products, Inc.