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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.
COVID-19 scenario 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:
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.
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 benefits of the report:
Key Market Segments
Key Market Players