The report
“World Siding (Cladding) to 2017” by Freedonia Group is now
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Global demand to rise over 5% per
year through 2017
Through
2017, the global siding market is projected to rise more than five percent per
year to over 5.6 billion square meters, valued at nearly $90 billion. In the
residential building market, increased demand will be measured against a low
2012 base in many high-income coun – tries, which are expected to rebound
somewhat from the losses of the 2007- 2012 period. Demand in residential
building applications will also benefit from rising personal income levels in
many developing countries, allowing more individuals to afford homes built with
multilayer construction techniques that utilize siding. Rebounds in nonresi –
dential construction spending in many high-income countries, plus continued
strong growth in developing countries, will also drive demand gains.
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North
America to see fastest demand gains
North America is forecast to register the fastest siding demand gains
through 2017 at nearly seven percent annually. Demand in this region will
benefit primarily from an expected housing market rebound in the US. While the
US is expected to post the fastest gains of the national markets in siding
demand through 2017, overall demand is not expected to reach the level seen in
2007. Despite similar (though of a smaller magnitude) recoveries in many
countries of Western Europe, that region is projected to see the slowest siding
de- mand gains through 2017 and demand is also not expected to reach the 2007
level In the developing areas of the world, the Asia/Pacific region is
expected to exhibit the fastest siding demand gains through 2017, led by solid
growth in the Chinese and Indian markets and assisted by a recovery in the
Australian market. Siding demand growth in Central and South America and the
Africa/Mideast region will benefit from ongoing industrial and commercial
development and rising personal income levels, which will make siding products
more affordable for residential construction.
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Masonry
& concrete to remain most popular
Masonry and concrete are expected to remain the most popular siding materials
through 2017, accounting for nearly three-fourths of demand. Overall, demand
for these products is forecast to rise over five percent annually
through 2017, with the most rapid gains projected for fiber cement products.
Demand for fiber cement siding will benefit from the product’s relatively low
cost, durability, and ease of maintenance. Additionally, fiber cement is able
to mimic the look of wood or vinyl siding, increasing its appeal to consumers.
Fiber cement siding is expected to gain market share through 2017, particularly
in North America. In 2002, fiber cement products accounted for only eight
percent of siding demand in North America, but by 2012 the level had risen to
13 percent. Vinyl siding is also forecast to post strong demand gains through
2017. While vinyl siding remains a niche product in many regions, it enjoys
wide popularity in the US. As such, demand for vinyl siding there will benefit
from the expected housing market recovery. Demand for metal siding will be
aided by recovering nonresidential construction activity in high-income
countries, and continued strong nonresidential building activity in developing
areas, as the majority of demand for these products is generated in
nonresidential construction applications.
Company
Profiles
Profiles 37 global industry players such as James Hardie, Kingspan
Group, LIXIL, Nichiha, Sto, Saint-Gobain and Wienerberger
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