Lucintel Forecasts Siding Market to Reach $153 Billion by 2030
Lucintel Forecasts Siding Market to Reach $153 Billion by 2030
Blog Article
According to the recent study the siding market is projected to reach an estimated $153 billion by 2030 from $122 billion in 2023 at a CAGR of 3.3% from 2023 to 2030. Growth in this market is primarily driven by increasing construction activities, growing repair and maintenance of building exteriors, and a rise in the hospitality industry.
Browse 129 figures/charts and 102 tables in this 187-page report to understand trends, opportunities and forecast in siding market by material (fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and others), end use (residential and non residential), application (new construction and repair and maintenance), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that vinyl will remain the largest material type segment over the forecast period due low material and maintenance cost and availability of wide variety of colors.
Within the global siding market, non-residential will remain the largest end use segment during the forecast period due to growth in retail and office buildings. Residential construction is expected to witness the highest growth during the forecast period due to increasing adoption of energy efficient homes.
Asia Pacific is expected to remain the largest market and witness the highest growth over the forecast period, supported by increasing urbanization and building construction activities.
Major players of siding market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Valmont Industries, Kingspan, James Hardie, Nichiha, Ply Gem, Louisiana Pacific, Georgia Pacific Vinyl Siding, Revere Building Products, and Lixil Group Corporation are among the major siding providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056