Industry Background:
The global siding market appearances promising with opportunities in non-residential as well as residential construction. Siding or wall cladding is the protective material attached to the exterior side of a wall of a house or other building. Along with the roof, it forms the first line of defense against the elements, most importantly rain/snow, sun, heat and cold, therefore generating a stable, more relaxed environment on the inner side. The major growth drivers for this market are growing construction activities, a rise in the hospitality industry and, increasing repair and maintenance of building exteriors.
This growth is primarily driven by Rise in Residential Construction and Infrastructural Activities, Increase in Non-Residential Construction and Infrastructural Activities and High Durability of Siding Systems.
Globally, a noticeable market trend is evident Technological Advancements in the Glass Industry
. The Construction Materials sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Louisiana Pacific Corporation (United States), James Hardie Industries PLC (Ireland), Boral Limited (Australia), Nichiha Corporation (Japan), Etex Group (Belgium), Kingspan (Ireland), Ply Gem (NCI Building Systems) (United States), Georgia Pacific Vinyl Siding (United States), Revere Building Products (United States) and Lixil Group Corporation (Japan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2018, James Hardie Industries Plc (Ireland) acquired a European building material business- Fermacell GmbH (Germany), to strengthen its business. This strategic initiative is expected to spur the growth of its fiber cement business across Europe. Furthermore, it will also strengthen its geographical footprint and product portfolio.
In August 2018, Nichiha Corporation invested USD 120 million to expand its manufacturing site in Macon-Bibb County, Georgia, the US to widen its operations. This strategic initiative is expected to assist in the growing demand for the company’s products in the South-Eastern region of the US.
Market Drivers
- Rise in Residential Construction and Infrastructural Activities
- Increase in Non-Residential Construction and Infrastructural Activities
- High Durability of Siding Systems
Market Trend
- Technological Advancements in the Glass Industry
- Stringent Regulations to Reduce Greenhouse Gas Emission
Restraints
- High Raw Material and Installation Costs
- Availability of Green Insulation Material
Opportunities
Increasing Demand for Protective Systems and Enhancement in the Aesthetic Appeal of Buildings, Rise in Population and Urbanization in Emerging Economies and Increase in Demand for Fiber Cement in Siding Systems
Challenges
High Repairing Cost and Lack of Awareness
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Siding Study Sheds Light on
The Siding Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Siding industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Siding industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.