US Siding Market 2018 Forecast

Siding to 2018
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Freedonia Group
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Siding to 2018
The collection of ‘Construction Material’ market research reports has a new
addition of “Siding to 2018” on RnRMarketResearch.com.
US demand to rise 7.1% annually through 2018
US demand for siding is forecast to rise 7.1 percent yearly to 103.5 million
squares in 2018, valued at $12.1 billion. As is the case with many building
materials, an expected rebound in construction activity will be the primary driver
for growth. For siding, the link to new housing is particularly strong, given that
nearly every home in the US features exterior cladding. (In contrast, most
nonresidential buildings opt for curtain walls or unclad structural walls).
Homeowners are increasingly turning to lower maintenance, more durable siding
materials such as fiber cement, brick, EIFS, and stone, although all siding
products are expected to benefit from the forecast recovery in new housing
completions. Also adding to gains will be continued growth in the key replacement
market, which accounted for 57 percent of sales in 2013. Vinyl will remain the
leading replacement siding by far but will continue to be challenged by newer
materials with better performance characteristics.
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Siding to 2018
Brick, concrete & stone siding to see fastest growth
Among material types, brick, concrete, and stone siding are expected to see the
most rapid advances in demand going forward. Brick siding demand will be driven
by increasing residential building construction in the South, where the material is
most commonly specified because of its favorable aesthetics and long tradition of
use in the region. Moreover, home builders across the US are expected to
increasingly install brick siding because of its desirable appearance, long lifespan,
and fire resistance. Concrete and stone siding is widely used in both residential
and nonresidential structures. Concrete blocks can be utilized to provide functional
yet durable exterior cladding, while precast concrete panels and synthetic stone
veneers are specified to recreate the look of more costly siding materials — such
as brick or natural stone — at a lower cost.
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Siding to 2018
Vinyl siding accounted for the largest share of siding demand in 2013; however,
vinyl siding has seen its share of the US market fall from 39 percent in 2003 to 27
percent in 2013. Vinyl siding has faced strong competition from various other
materials — such as fiber cement, stucco, and wood — seen as more aesthetically
pleasing. Going forward, vinyl siding will remain the leading material installed in
the US because of its low cost, long lifespan, and minimal maintenance needs.
However, vinyl siding will continue to lose market share to materials seen as
better able to improve the exterior appearance of residences.
Residential market to regain leading share status
Residential improvement and repair applications were the leading siding market in
2013, indicative of the low level of housing completions in that year. However,
going forward, the new residential market is expected to regain its leading market
position in 2018 as housing completions rise rapidly from their low base.
Residential improvement and repair demand for siding will exhibit solid growth as
homeowners who put off re-siding projects during the 2007-2009 recession will do
them going forward.
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Siding to 2018
Nonresidential demand for siding is forecast to grow 6.8 percent per annum to
25.0 million squares in 2018, driven by rebounding nonresidential building
construction. The commercial and lodging and office segments saw the steepest
demand declines between 2008 and 2013, and will thus post the fastest advances
through 2018. Improving economic conditions will spur the construction of
shopping malls, hotels, resorts, restaurants, and offices.
Company Profiles
Profiles for major US industry players such as CertainTeed, James Hardie,
Louisiana Pacific and Ply Gem
Table Of Contents
Introduction XII
I. Executive Summary 1
II. Market Environment 4
General 4
Macroeconomic Outlook 5
Demographic Trends 9
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Siding to 2018
Consumer Trends 13
Consumer Spending 13
Consumer Financing 16
Building Construction 19
Residential Buildings 22
Housing Completions 23
Housing Stock 28
Improvements & Repairs 32
Nonresidential Buildings 33
New 33
Nonresidential Building Stock 36
Improvements & Repairs 38
Regulatory & Environmental Trends 40
Environmental Issues 40
Green Building Standards 43
Recycling 46
Other Regulatory Issues 47
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Siding to 2018
Pricing Trends 48
Materials & Technology Trends 50
Historical Market Trends 52
Foreign Trade 55
World Siding Market 58
III. Materials 62
General 62
Area Outlook 65
Value Outlook 66
Installed Costs 68
Vinyl Siding 70
Markets 73
Products 75
Characteristics 78
Suppliers 81
Fiber Cement 81
Markets 83
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US Siding Market 2018 Forecast

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US Siding Market 2018 Forecast