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Siding Market to Reach US$ 140.3 Billion 2024-2032, Driven by 3.6% CAGR: IMARC Group

Siding Market

The global siding market size reached US$ 101.2 Billion in 2023.

BROOKLYN, NY, UNITED STATES, February 7, 2024 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Siding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on siding market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global siding market size reached US$ 101.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 140.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.6% during 2024-2032.

Get a Sample Copy of this Report: https://www.imarcgroup.com/siding-market/requestsample

Factors Affecting the Growth of the Siding Industry:

• Increasing Construction Activities:

The expansion of the global siding market is significantly attributed to rising construction activities, particularly in developing economies. Urbanization and population growth are key drivers of these activities, as they necessitate increased residential and commercial infrastructure. Governments and private sector investments in construction projects are also contributing to this growth. Additionally, reconstruction and renovation of old buildings in developed countries are fueling demand for new siding materials, aiding in market expansion.

• Technological Advancements in Siding Materials:

Innovations in siding materials have been pivotal in market growth. Modern siding materials offer enhanced durability, aesthetic appeal, and environmental sustainability, making them attractive to consumers and builders alike. The integration of technology has led to the development of energy-efficient and low-maintenance siding solutions, appealing to environmentally conscious consumers. Furthermore, these advancements are helping manufacturers cater to a wide range of preferences and climatic conditions, broadening the market scope.

• Consumer Preference for Aesthetics and Durability:

The consumer demand for aesthetically pleasing and durable siding options plays a significant role in the market’s expansion. Homeowners are increasingly focusing on curb appeal, which directly influences their siding choices. Additionally, the demand for long-lasting materials that withstand various weather conditions and require minimal maintenance is on the rise. This shift in consumer preference is prompting manufacturers to innovate and diversify their product offerings, thereby fueling market growth.

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/siding-market

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Boral Limited
• Georgia-Pacific Wood Products LLC
• James Hardie Building Products Inc.
• Kingspan Group
• Nichiha USA Inc.
• Louisiana-Pacific Corporation
• Döcke Extrusion LLC
• Alumasc Group PLC
• Ply Gem Industries Inc.
• Knauf Gips KG
• Etex Group
• Lixil Group Corporation
• ROCKWOOL Group
• C. & S. Cladding (Wales) Limited T/A National Cladding Wales
• Revelstone Cape (Pty) Ltd
• Wienerberger AG

Siding Market Report Segmentation:

By Material:

• Fiber Cement
• Vinyl
• Metal
• Stucco
• Concrete and Stone
• Brick
• Wood
• Others

Fiber cement represented the largest segment due to its durability, low maintenance, and aesthetic appeal.

By End Use:

• Residential
• Non-Residential
o Healthcare
o Education
o Hospitality
o Retail
o Offices
o Others

Residential accounted for the largest market share because of the increasing housing construction activities worldwide.

By Application:

• New Construction
• Repair and Maintenance

On the basis of application, the market has been divided into new construction and repair and maintenance to address different consumer needs and life cycle stages of buildings.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (Germany, France, United Kingdom, Italy, Spain, Others)
• Europe (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

North America’s dominance in the siding market is attributed to high construction rates and a strong preference for aesthetically pleasing building materials.

Global Siding Market Trends:

Stringent government regulations regarding energy efficiency and environmental sustainability are influencing the siding market. These policies encourage the use of eco-friendly and energy-efficient materials. Economic prosperity in several regions has led to increased disposable income, allowing more spending on home improvement and construction, thereby benefiting the siding market.

Additionally, local cultural factors and architectural trends significantly impact siding material preferences, affecting market dynamics. Aggressive marketing by manufacturers, showcasing the benefits of their products, plays a role in shaping consumer preferences and driving market growth. Furthermore, the need for more resilient building materials due to changing weather patterns and increased incidence of extreme weather events also impacts the siding market.

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
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