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 house in the US features exterior cladding. Home builders are increasingly installing more durable, low-maintenance siding materials such as fibre cement, brick, and concrete and stone, although all products are expected to benefit from the forecast recovery in new housing completions.
Also adding to advances will be continued growth in the important replacement market, which accounted for 57% of sales in 2013.
According to analyst Matt Zielenski: "Vinyl will remain the leading replacement siding material but will continue to be challenged by newer products with enhanced performance and aesthetic characteristics."
These and other trends are presented in Siding, a new study from The Freedonia Group Inc, a Cleveland-based industry market research firm. www.freedoniagroup.com
