Global Siding Market-Industry Analysis and Forecast
Posted by geeta narwade on March 2nd, 2020
Global Siding Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of 5.2 % during forecast period.
Global Siding Market, By End-UserThe increased investments in hotel constructions is a key growth driver for sliding market. Hotel industry mainly emphasizes on exteriors and structural aesthetics. The latest trend in the hotel industry is boutique hotels, which are smaller than the conventional hotels but deliver ultra-luxury features and services. Rising number of boutique hotels and boutique-like makeovers of some of the current hotels are expected to drive the popularity of sidings in the next four years.
Upcoming trends such as, usage of combined siding materials is anticipated to help the market growth over the next four years. Different sliding materials have different textures providing a unique demand for the same building. Various designs can be churned out with the use of multiple colors and materials. Materials such as stone and wood can be combined, contrasting colors of the same material for example beige and burgundy, or light shades of gray with darker shades of purple to give a vibrant visual effect to the building.
Based on end-user, residential segment held a major share and contributed more than XX% of the sliding market in 2018 in terms of revenue. Growth of residential segment in the sliding market is attributed mostly to the favorable and lenient lending policies initiated by governments across all regions thus driving the sales of residential construction projects. The residential construction spending is estimated to rise, particularly in the emerging Asia Pacific and South America region. Trend of rapid urbanization is being witnessed in these regions, resulting in a greater growth rate for the residential construction market than in developed markets.
Based on material, the vinyl will remain the largest material type over the forecast period owing to its low material and maintenance cost and availability of a wide variety of colors. Researchers predict that fiber cement will witness the highest growth during the forecast period because of its eco-friendly nature and fire-resistant property.
North America region is projected to lead the sliding market during the forecast period owing to the strong demand from countries such as the US and Canada. The demand is driven by the willingness of companies in the region to take up capital-intensive projects, along with the convenience of technical expertise. Strong government support further aids the growth of the siding market, as the demand for these product increases.
In October 2017, Louisiana Pacific Corporation acquired Worldwide Barrier Technology Inc. (US). As a result of this strategic initiative, International Barrier Technology is the only owned subsidiary of Louisiana Pacific Corporation. After this possession, the company can boost its growth into the new markets and bring some more fire resistance products for commercial as well as construction purposes.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Siding Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders in prioritizing the efforts and investment in the near future to the emerging segment in Global Siding Market.
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Global Siding Market, By Material
• North America
• Alumasc Group Plc
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About the Authorgeeta narwade
Joined: September 2nd, 2019
Articles Posted: 100
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