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Allied Market Research

Siding Market: Global Opportunity Analysis and Industry Forecast, 2020-2027

A08942
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Dec 2020 | 24 Views
 
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COVID-19

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Siding is the protective material that is used in the exterior wall to protect the building from sun, wind, and rain. It is used to prevent the heat loss and maintaining the temperature inside the building. Different types of siding are available in the market such as horizontal lap siding, vertical board siding, clapboard, and shingles. Siding enhances the architectural beauty of the buildings. Siding can be categorized into different types in terms of material used, i.e., wood, vinyl, stone, fiber, and composite siding. In large buildings, it is known as an cladding material on the exterior wall which is used for decoration and a weatherproofing material. These siding materials are in high demand in residential buildings and small apartments.

Market scope and structure

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Application, type, material type, and region

  Companies covered

Compagnie de Saint-Gobain S.A. , Westlake Chemical, Louisiana Pacific Corporation, Etex Group, Boral Limited, James Hardie Industries PLC , Nichiha Corporation, Cornerstone Building Brands, SHERA, and Docke Extrusion Co. Ltd.

 

 

 

 

 

Region covered

North America

Europe

Asia Pacific

LAMEA

US, Canada, and Mexico

Germany, France, UK, Italy, and the Rest of Europe

China, Japan, India, South Korea, and the Rest of Asia Pacific

Latin America, Middle East, and Africa

 

COVID-19 scenario analysis:

  • The demand for the siding is expected to decrease in the year 2020 due to lockdown imposed by the government and low demand from construction industries.
  • Coronavirus has affected the import and export of construction materials. China is the largest exporter of construction materials globally. Negative trends in the economy of China are anticipated to reduce the global import and export throughout the globe.
  • Demand for new construction materials have witnessed a massive negative shift since the corona outbreak in December 2019, with manufactures and investors fearing an excessively receding economic growth.
  • Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted throughout the globe.
  • Construction materials manufacturing companies located in China, are the major sufferers of from the virus outbreak, owing to lockdown and unavailability of logistics in the region.
  • The major hindrance for the global construction materials market comes from the orders of home quarantine by respective governments, which has led to the discontinuing of production of construction materials.
  • Decreased consumer demand and consumption have led to reduction and slowdown of sales of construction materials all over the globe over the course of the current economic year.
  • Therefore, the siding market is expected to be negatively affected in 2020.

Top impacting factors: market scenario analysis, trends , drivers, and impact analysis

Significant increase in the residential buildings across the globe and the use of siding in the exterior walls of these buildings is considered to be the major growth driver for siding market. The increasing infrastructure development in several countries act as a growth driver for siding market. An increase in the population and increase in the demand for construction of residential and commercial buildings is driving the market of siding especially the wood and fiber siding. The increase in demand for the siding materials in the construction industry that can resist the chemical exposure and used as weather proofing material to withstand the change in weather conditions. Further, the growing income of people and the increasing trend of using siding material for increasing the beauty of the buildings can act as the major growth driver for the siding market. Moreover, the wide range of siding in terms of materials like wood, fiber, plastic and others, open the various options or alternatives in the market. Thus, this alternatives also act as the growth driver for siding market. However, the lack of awareness about the siding material can be a major restraint for the siding market.

The global siding market trends are:

New launches to flourish the market

In the past few years, siding is playing a major role in the construction industries. On June 2019, The Royal Buildings one of the global leader in exterior building products launched a canvas cellular siding for the exterior walls. It offerings include choosing thousands of colors from its exterior vinyl paint shades. The Celect canvas is available in all types including the clapboard, vertical siding, board & batten and others. It features in providing an interlocking system that helps in removing the moisture out of the wall. 

Further, The Wolf home products one of the global leader in building materials, launched a wolf portrait siding visualizer in August 2019. It is a mobile friendly interface that provides homeowners and contractors to choose different shades and siding materials from their product portfolio.

High demand from applications :

The demand for the high quality construction material in various residential and nonresidential buildings such as offices, institutions and commercial buildings has pushed up the siding market across the globe. Further, in modern construction vinyl and wood siding is mostly used than the traditional aluminum siding. The siding is used in small apartments and residential buildings with a purpose of improvising the texture and the architectural beauty of the buildings. It is used as an weather-proof, corrosion-resistant, and fire-resistant material. It is strong and durable. It is used to improve the structure and longevity of the exterior wall. The clapboard and shingles are the types of siding that are in used preventing the entry of water and moisture into the walls.

Key segments covered:

Segments

Subsegments

  Material Type

  • Vinyl
  • Fiber
  • Wood
  • Stone
  • Others

  Type

  • Vertical board siding
  • Horizontal lap siding
  • Clapboard
  • Shingles
  • Others

  Applications

  • Residential
  • Commercial
  • Others

 

 

Key benefits of the report:

  • This study presents the analytical depiction of the siding market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the siding market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the siding market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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  • Further develops analyst team’s market understanding and expertise
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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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