Siding: Key market research findings
- Application of various combined siding materials
- Availability of brightly colored siding materials
Technavio has released a new market research report on the global siding market, which is expected to grow at a CAGR of 5% between 2016 and 2020. Growth in commercial buildings such as malls, hotels, office buildings is boosting the demand for string and durable sidings. Hotels are one of the main user of sidings market, owing to the structural aesthetical appeal these provide. The Americas is the dominant region in the global siding market, thanks to the increase in residential construction projects, health care facilities, hotel projects, and commercial building projects.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late the siding market is witnessing the application the usage of combined siding materials. Different siding materials have different textures and, provide an exclusive appeal to the same building. Many designs can be churned out with the use of multiple colors and materials. For instance, materials such as stone and wood can be combined, contrasting colors of the same material such as beige and burgundy, or light shades of gray with darker shades of purple to give a vibrant visual effect to the building,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research
With the emergence of innovative and experimental designing concepts, bolder and brighter shades such as bright blue, reds, and greens have become popular in siding. One of the latest addition to these shades is the Parkside Pine, which is a combination of shades of green and brown. Wide-ranging choices in terms of colors and designs enable users to create new and refreshing designs that give a distinct and vibrant character to the whole building.
The leading vendors in the global siding market include Alumasc, Boral, James Hardie Industries, Kingspan Panels, and Knauf. The market is expected to grow due to the rising investments in public infrastructure development across the world. The vendors in the market compete by offering a wide variety of siding types such as vinyl, brick, fiber cement, wood, stone, manufactured stone veneer, stucco, synthetic stucco, aluminum, and stainless steel. To retain their market shares, the vendors are marketing their products through online channels by offering try-out samples directly to homeowners.
A more detailed analysis is available in the Technavio report, Global Siding Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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