PUBLISHER: The Business Research Company | PRODUCT CODE: 1477090
PUBLISHER: The Business Research Company | PRODUCT CODE: 1477090
Siding, also known as wall cladding, is an essential component in the construction and real estate sectors, serving the primary purpose of protecting and insulating buildings while also enhancing their aesthetic appeal. It involves the application of materials to the exterior of a building to safeguard it against elements, such as rain, snow, sun and wind and to improve its appearance.
The siding market consists of sales, by entities (organizations, sole traders or partnerships), of siding that come in various forms, including fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood and other materials, each offering unique benefits in terms of durability, maintenance, cost and visual appeal. Siding is used in both new constructions and repair and maintenance projects, catering to a wide range of applications across different types of buildings.
The global siding market was valued at $85,328.33 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.0%.
Rise In Construction Of Green Building
The rise in the construction of green buildings boosted the growth of the siding market in the historic period. Energy efficiency and environmental sustainability are given top priority in green buildings over their entire existence. Siding materials that are energy-efficient, eco-friendly and derived from sustainable sources are therefore in greater demand. Siding products that fulfilled these requirements became crucial elements in green construction endeavors. For instance, in April 2022, according to Indian Real Estate's ESG (Environmental, Social and Governance) Landscape and its Progress to a Sustainable Future report published by CBRE (Coldwell Banker Richard Ellis) South Asia Private Limited, an India-based real estate consultancy services company, the nation's green assets had increased by 37% overall over the previous five years. Additionally, in April 2021, according to PlanRadar, an Australia-based construction and real estate management software company, the number of sustainable buildings built in the US increased to 70,000 in 2019 from 3,156 registered structures in 2005. Therefore, the rise in the construction of green buildings drove the growth of siding market during the historic period.
Use Of Microscopic Light-Disruptive Paint Technology To Offer Flexibility
Companies operating in the siding market are adopting new technologies such as microscopic light-disruptive paint technology to offer flexibility and color depth. The main benefits of microscopic light-disruptive paint technology in siding are to eliminate unwanted shine and glare, making the siding more suitable for environments that have traditionally restricted the use of metal. For example, in February 2022, Steelscape LLC, a US-based company that supplies metallic-coated and pre-painted steel products for construction industry, launched Natural Matte, a new range of six ultra-matte metal roofing and siding colors. Natural Matte sets a new standard for ultra-matte metal finishes using microscopic light-disruptive paint technology. Additionally, Natural Matte removes glare and shine without compromising finish durability or color depth and offers design flexibility.
The global siding market is fairly fragmented, with a large number of small p/layers in the market. The top ten competitors in the market made up 23.08% of the total market in 2022.
Siding Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global siding market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for siding? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The siding market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider siding market; and compares it with other markets.
Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by material, segment by application and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.