Siding Demand to Reach 101.5 Million Squares in 2021
Siding demand in the US is projected to advance over 3 percent per year to 101.5 million squares in 2021. Growth can be attributed to a nationwide expansion in commercial building construction activity and increases in new housing completions in the South and West. These and other trends are presented in Siding Market in the US, 17th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Demand growth for fiber cement will be among the fastest for any siding product, increasing 3.7 percent annually through 2021. Gains for this product are driven by its ability to inexpensively mimic natural wood, brick, and stone siding materials. Fiber cement is often preferred over natural wood siding for newly constructed homes, as it’s less costly and does not require regular maintenance such as painting and sealing.
Metal panels will make up 18 percent of siding demand for commercial buildings, the second largest share for that market. A growing interest in prefabricated metal buildings, which reduce construction times and labor costs for commercial customers, will help drive demand.
Siding Market in the US, 17th Edition (published 01/2018, 172 pages) is available for $5,600 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email firstname.lastname@example.org.
Related studies include:
- #3597 Insulation Market in the US, 12th Edition (December 2017)
- #3588 Global Windows & Doors, 8th Edition (December 2017)