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Opportunities For The Global Siding Market To Reach $102.0 Billion By 2023
According to a new market report published by Lucintel, the future of the global siding market looks promising with opportunities in non-residential and residential construction. The global siding market is expected to reach an estimated $102.0 billion by 2023 with a CAGR of 4.3% from 2018 to 2023. The major growth drivers for this market are increasing construction activities, growing repair and maintenance of building exteriors, and a rise in the hospitality industry.
In this market, vinyl, stucco, brick, fiber cement, wood, concrete and stone, metal, and other materials are used for manufacturing of siding. On the basis of comprehensive research, Lucintel forecasts that the vinyl will remain the largest material type over the forecast period due low material and maintenance cost and availability of wide variety of colors. Lucintel predicts that fiber cement will witness the highest growth during the forecast period due to its eco-friendly nature and fire-resistant property.
Within the global siding market, non-residential will remain the largest end use market 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.
Emerging trends which have a direct impact on the dynamics of the market include increasing adoption of fiber cement siding and increasing use of sidings with good insulation to reduce energy consumption through air conditioners and heaters. Kingspan, James Hardie, Nichiha, Ply Gem, Louisiana Pacific, Georgia Pacific Vinyl Siding, Revere Building Products, and Lixil Group Corporation are among the major suppliers of sidings.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global siding market by material, end use, application, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Siding Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global siding market by material, end use, application, and region, as follows:
By Material [Value ($ Million) and Volume (Million Square Feet) from 2012 to 2023]:
• Fiber Cement
• Concrete and Stone
By End Use [Value ($ Million) and Volume (Million Square Feet) from 2012 to 2023]:
• Non Residential
By Application [Value ($ Million) for 2017 and 2023]:
• New Construction
• Repair and Maintenance
By Region [Value ($ Million) from 2012 to 2023]:
• North America
− United States
− United Kingdom
This 205-page 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 email@example.com. Lucintel offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT Analysis.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q. 1. What are some of the most promising, high-growth opportunities for the global 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)?
Q. 2. Which product segment will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in the last 5 years?
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