Residential Siding Market

Residential segment from the application section holds the largest market share in the global siding market siding improves the stylish intrigue of a structure alongside properties for example strength and protection from extreme weather conditions have likewise boosted the growth of the residential sector.

Residential siding market.

The report siding market by type vinyl fiber cement and wood application residential and non residential and region north america asia pacific europe middle east and africa and south america global forecast to 2024 the siding market is projected to grow from usd 101 7 billion in 2019 to usd 126 3 billion by 2024 at a cagr of 4 from 2019 to 2024. Prices listed are per square 100 square feet. The commercial building market is broken out by building type i e institutional retail and lodging office industrial and other commercial buildings. Weigh the look you like against upkeep and cost.

Based on material the fiber cement siding dominated the market. Siding market worth 80 billion by. Prnewswire the world siding market cladding to 2019 research report forecasts the global demand to rise over 4 2 annually through 2019 to nearly six. Siding demand in the us is forecast to increase 2 0 annually through 2023 to 105 8 million squares.

Homes are often constructed using vinyl siding because of its low cost. Residential construction is expected to witness the highest growth during the forecast period due to increasing adoption of energy efficient homes. Within the siding market non residential will remain the largest end use market during the forecast period due to growth in retail and office buildings. The residential building market is further segmented by housing type i e single family multifamily and manufactured housing.

Demand growth will be driven by rising home renovation activity increases in new housing construction and an expansion in commercial building construction activity especially for offices industrial buildings and restaurants. Vinyl will remain the leading siding material due to its continued popularity in the single family housing market. Fiber cement siding is affordable and are installed in regions having extreme weather conditions.