Us Siding Market
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Figure 1 1 key trends in the us siding market.
Us siding market. Also the market for siding in this region is projected to grow at the highest cagr from 2019 to 2024 in terms of value. The global siding market reached a value of us 86 3 billion in 2019. Advances will be driven by increases in. The major market segments included are new.
The us siding industry is facing a number of challenges as it deals with the impact of the. The siding market looks promising with opportunities in non residential and residential construction. Siding refers to the material used for cladding covering and protecting the exterior walls of a building. The north american region which is witnessing a rebound in its residential and non residential construction sector held the largest market share in 2018.
The siding materials considered are vinyl fiber cement stucco wood brick concrete and stone metal panels and other smaller volume siding materials. The major growth drivers for this market are increasing construction activities growing repair and maintenance. 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. 1 executive summary executive summary.
The global siding market is growing owing to various factors. Siding demand in the us is forecast to increase 2 0 annually through 2023 to 105 8 million squares. The siding market is expected to reach an estimated 107 871 4 million by 2024 with a cagr of 4 3 from 2019 to 2024. Rising building construction activity will drive demand gains.
In terms of value the north america region is estimated to account for the highest share in the global siding market during the forecast period. Serenity at its most exhilarating. Combined with strong wind load performance high durability and low maintenance it s as easy to live with as it is to look at. Us demand for siding is forecast to rise 3 1 annually through 2021 to 101 5 million squares.
The global siding market is estimated to grow from usd 101 7 billion in the year 2019 to usd 126 3 billion by the year 2024 at a cagr of 4 0 during the forecast period 2019 to 2024.
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