siding market Analysis by Size, Share, Trends, Growth and Regional Forecast to 2025

21/apr/2020 10:29:14 Automotive Market Research Reports Contatta l'autore

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The global market for siding is expected to grow at a significant rate during the forecast period. The booming construction sector has further fueled the market demand.

The increasing urbanization and the rise in investments for renovation construction, particularly in new housing, are the prime factors that are driving the siding industry. The building renovation construction market is growing more than the expected rate. The rise in renovation construction is likely to boost the demand for siding in the global market.

The market in Asia-Pacific is expected to witness the highest growth rate in the global siding market during the forecast period: MRFR

By region, the global siding market is segmented as Europe, Asia-Pacific, North America, South America, and Middle East & Africa. North America held the largest market share. Home Energy Loan Program (HELP), Home renovation tax credit, and other government initiatives enable homeowners to install energy-efficient siding and have a positive impact on North America siding market.

The global siding market size was valued at USD 100.1 billion in 2018, which is expected to witness 4.4% CAGR during the forecast period.

The fiber cement segment is expected to occupy the largest market share of the global siding market: MRFR

The global market is segmented, based on material, into vinyl, fiber cement, wood, concrete others. The fiber cement likely to dominate the global siding market. Due to their low installation cost and long-lasting service life, the fiber cement is most consumer-preferred material for siding.

The residential segment is likely to hold the largest market share of the global siding market: MRFR

By application, the global siding market is segmented into residential, commercial, and Industrial. The commercial sector is further categorized as hospitality, healthcare, shopping malls & centers, educational centers, office spaces, and others. The residential sector is considered to be the fastest-growing sector and is projected to capture the majority of market share in the global siding market. Furthermore, the rise in the number of home renovation products is expected to boost the demand for siding in the global market.

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