30 April 2012 23:10 [Source: ICIS news]
HOUSTON (ICIS)--Vinyl siding accounted for the greatest share of US siding demand in 2011 at 37%, and will continue to be at the front of the siding market in 2016, according to a research study announced on Monday.
Demand for siding in the US is forecast to increase by 8.4% per year through 2016 to 96.5m squares, equivalent to $11.4 bn (€8.7bn), according to Cleveland-based industry research firm, The Freedonia Group.
Housing completions in the US, though below the 2006 cyclical peak, will drive siding demand from a depressed 2011 base, with the strongest growth in population and housing activity projected in the south and west regions.
Insulated vinyl siding and products that resemble materials such as stone and wood will lead the market, but vinyl growth will be checked by competition from fibre cement and stucco siding, which offer better long-term durability, according to Freedonia.
($1 = €0.76)
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