Siding Global Market Report 2022| MENAFN.COM

Monday, 26 September 2022 03:58 GMT

Siding Global Market Report 2022

(MENAFN- GlobeNewsWire - Nasdaq)

New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- announces the release of the report 'Siding Global Market Report 2022' -
Ltd., Georgia Pacific Vinyl Siding, Kingspan, Ply Gem, Lixil Group Corporation, Saint-Gobain, DuPont, Tata Steel, Arconic, Alumasc, Rockwool, National Cladding, Revelstone, Wienerberger, Knauf, Carea Community Health Centre, and Al Ghurair Group.
The global siding market is expected to grow from $87.79 billion in 2021 to $92.56 billion in 2022 at a compound annual growth rate (CAGR) of 5.4%. The siding market is expected to grow to $121.37 billion in 2026 at a CAGR of 7.0%.
The siding market consists of sales of siding materials by entities (organizations, sole traders, partnerships) that refer to protective materials attached to the exterior of a wall.Siding helps protect against exposure to elements, prevents heat loss, and helps improve the aesthetic of a building.
Siding improves the aesthetic appeal of a building, along with properties such as durability and safety from extreme weathering has also driven the residential sector. Also, other benefits such as fire protection and high thermal efficiency will further boost the demand for siding.
The main types of siding are fiber cement, vinyl, metal, stucco, concrete, and stone, brick, wood, others.Fiber cement is a composite building and construction material that, because of its strength and longevity, is mostly utilized in roofing and facade goods.
The end-user of siding is residential, non-residential, healthcare, education, hospitality, retail, offices, and others that can use siding in new construction, repair & maintenance.
Asia Pacific was the largest region in the siding market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the siding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The siding market research report is one of a series of new reports that provides siding market statistics, including siding industry global market size, regional shares, competitors with a siding market share, detailed siding market segments, market trends and opportunities, and any further data you may need to thrive in the siding industry. This siding market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The high durability and ability to enhance the aesthetic appearance of buildings are driving the growth of the siding market.Siding for new construction or repair helps improve various factors of a building.
Siding can help ensure the structural integrity of a building, protecting water from causing the wood in a building to rot.Certain types of siding are also resistant to moisture or offer protection from harsh weather elements and wind up to 180 mph.
Furthermore, it can help increase the resale value of a house by improving the aesthetic, various siding materials can be customized to offer an aesthetic finish to a building. These materials can also be resistant to UV rays, offering an aesthetic looking building in the long run
The increasing use of sidings with good insulation to reduce energy consumption through air conditioners and heaters are shaping the siding market.Sidings with good insulation are commonly vinyl sidings.
These sidings unlike standard sidings come with a preinstalled layer of insulating foam, which eliminates hollow spaces under the vinyl layer and helps increase the stiffness of the installation, ultimately improving the impact resistance.Furthermore, well-insulated sidings help have even temperatures throughout the house.
Moreover, a well-insulated exterior helps reduce indoor heating requirements during winter, leading to substantial energy savings, including the roof and fenestrations (windows, entry doors, and skylights) in preventing heat leaks, ultimately saving on indoor cooling costs. In addition, insulated walls also provide a noise reduction, perfect for residential buildings on a busy street.
In January 2022, Beacon, a US-based company acquired Cookeville-based wholesale distributor of exterior building materials, Crabtree Siding and Supply, for an undisclosed amount. Through this acquisition, Crabtree will make use of Beacon's customer relations and supplier services along with strengthening its geographic footprint
The countries covered in the siding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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