US vinyl siding demand to grow rapidly - market study

20 December 2011 19:56  [Source: ICIS news]

HOUSTON (ICIS)--Demand for vinyl siding will grow rapidly in the US, but it will remain a niche product outside of North America, accounting for only a small portion of global siding demand, a market research study said on Tuesday.

The global siding market will grow by 4.8% per year through 2015 to more than 5bn square meters and $87bn (€67bn), The fastest growing region will be North America, as US demand will rise rapidly with the recovering housing market, while the Asia-Pacific region is expected to make strong gains, according to Cleveland-based industry research firm, The Freedonia Group.

Industrial and commercial development, along with rising personal income, will drive growth in South America and in the Africa/Mideast region.

Masonry and concrete products will account for nearly three-quarters of sales through 2015 in volume, with expected growth of almost 5% per year, fuelled by the recovery in the housing sectors in the US and western Europe.

Demand for fibre cement siding will grow the most rapidly, increasing market share, while demand for metal siding will grow at a rate of 4.6% per year through 2015, driven by non-residential construction activity in China and a rebound in construction in Japan, Freedonia said.

($1 = €0.77)

By: Ron Coifman
+1 713 525 2653

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