Vinyl Siding Market

Global Vinyl Siding Market Outlook

The global vinyl siding market is estimated at USD 6.7 Billion in 2022 and is forecast to surpass USD 10.3 Billion by 2032, growing at a CAGR of 4.4% from 2022 to 2032.

Report Attributes	Details
Base Year Value (2021A)	USD 6.4 Billion
Estimated Year Value (2022E)	USD 6.7 Billion
Projected Year Value (2032F)	USD 10.3 Billion
Global Growth Rate (2022-2032)	CAGR 4.4%
North America Market Share in 2021	~24.9%
North America Growth Rate (2022-2032)	CAGR 6.7%
Collective Value Share (US, China, Germany) 2022: Top 3 Countries	~38%
Top 5 Companies Market Share in 2021	~29%
Key Companies Profiled	Westlake Chemical Associated Materials Group Inc. Alcoa Inc. Alside Inc. BASF SE Sibco Building Products CertainTeed Corporation Ferriot Inc. Ply Gem Holdings Acme Brick Koch Industries ASC Profile Inc. American Original Building Products Variform Inc. Berkshire Hathaway Incorporated Kaycan Ltd.

The global vinyl siding market accounts for ~6.1% of the global siding market in 2022. The global vinyl siding market is estimated to have an absolute $ opportunity of USD 3.6 Billion during the forecast years of 2022-2032. 

2017-2021 Global Vinyl Siding Market Outlook in Comparison to 2022-2032 Growth Forecast

The growth in the building and the construction industry, along with stabilized housing markets in tandem with escalating real estate transaction across the globe is factored for the demand and growth for weatherproofing solutions, leading to rise in demand for vinyl sidings.

Vinyl sidings offers advantages of protecting exteriors and allows for a decorative appeal to the homes over wood sidings or cement sidings. This advantage drives homeowners to place greater demand on the table. This is particularly estimated to raise additional market demand by 1.2X in coming years.

Fact.MR projects the vinyl siding market is expected to witness exhibiting growth at 4.4% CAGR during 2022 and 2032 in comparison to a CAGR of 2.9% with which it grew from 2017 and 2021.

Growing Infrastructural Development Driving Growth

Global developments in the last few years have underlined the political schisms and difficulties. There has been an increase in infrastructural developmental activities all round the world, thereby leading to enhanced market demand.

Demand for vinyl siding across the globe is expected to spur in the coming years, especially in the residential sector. A booming construction industry across the globe is the primary driver of growth in demand for vinyl siding.

An increase in demand from the residential sector can be attributed to an increase in the global housing market. The worldwide market for residential spaces is expected to witness a surge especially in some of the high income countries of the world. The rise in levels of personal income of the population in developing and low income countries is further expected to boost the global housing market, thereby leading to an increased demand for vinyl siding.

While regional demand across North America is at an all-time high, manufacturers of vinyl siding would benefit by focusing on the growing Asia Pacific region, as the residential sector in the APAC is witnessing burgeoning growth.

Vinyl's Inherent Beneficial Properties to Increase Demand in the Global Construction Sector

Vinyl has several beneficial properties that make it the best choice as an exterior siding material. There is almost zero manufacturing waste and the material is both lightweight and low on maintenance.

Insulated vinyl siding adds a layer of thick foam beneath the panels thereby boosting energy efficiency and helps retain both heat and cold to suit different seasons. Vinyl is not subject to rotting and is sturdier than aluminum. And while vinyl tends to get dirty very easily, the cleaning process is a simple rinsing with water and mild detergent.

Vinyl is an easy option for people who don’t have the kind of time to maintain the exterior siding in their homes. Vinyl also looks trendy and its availability in a variety of textures and colors adds to its demand value in the market. Vinyl siding can also ensure tight sealing of homes. The various positive attributes of vinyl is making it the most preferred option for exterior siding, thereby boosting growth of the global vinyl siding market.

Ecological footprint creating challenges

The ecological footprint of vinyl sidings has increased owing to the predominant use of polymers made from vinyl compounds. Moreover, manufacturers are facing challenges in the disposing of used vinyl sidings in accordance with the criteria of environmental protection agencies. This is expected to reduce market growth by 0.7X during the forecast years.

Increasing Health Concerns to Dampen Adoption of Vinyl in Exterior Siding

The PVC that is used to manufacture vinyl siding is believed to cause a rare form of cancer of the liver especially in workers directly exposed to vinyl chloride. As a result, the use of vinyl siding in exterior siding requires stringent monitoring and the setting of exposure limits for vinyl chloride.

Further, the production of the PVC used in vinyl siding comes with an associated high cost factor – the safe production of PVC requires equipment and processes that can come at a very high cost. These factors are expected to restrain the growth in demand for vinyl siding in the coming years, thereby negatively impacting revenue sales of global vinyl siding market.

Region-wise Insights

Which region accounts for more enhanced demand for Vinyl Siding Market?

In essence, vinyl is somewhat green friendly. Vinyl is a material with very low requirements of energy and helps save vital resources as well as energy. Vinyl can also be recycled and the global vinyl industry facilitates efforts to enhance the recycling of demolition and construction scrap made from vinyl. As a result, vinyl is the most preferred material in different construction activities.

Further, North American countries such United States, Canada etc. are focusing on eco-friendly and recyclable products to construct the buildings. Vinyl siding is fulfilling the need on American consumers. North America vinyl siding market accounts for the largest sales by contributing 24.5% to the overall vinyl siding market. It is projected to grow at 6.7% CAGR by the end of forecast period.

What is the market scenario in Asia-Pacific?

Asia-Pacific Excluding Japan (APEJ) with two of the largest consumer markets (China and India) continues to exhibit exponential growth potentials. The region remains a bright spot in the chemical space.

However, there is work need to be done-Chinese chemical companies continue to increase their production, as they now target international markets. But China, too, is moving towards building an economy that is self-sustaining and less export driven. The maturing economy of China also signals lower opportunities for industrial growth in the near future.

The Asia-Pacific vinyl siding market consists of East Asia and South Asia accounting for 18.7% and 16.3% of the overall market. In recent years, end markets for the chemical industry, including pharmaceuticals, automotive and construction have been booming in the south Asia & Oceania region. Robust domestic demand for chemicals and chemical products has been pivotal for the growth of the chemical sector. The demand of vinyl siding is projected increase at a CAGR of 5.5% during the assessment period.

Category-wise Insights

Which product type is expected to be the largest contributor in market share during the forecast period in Vinyl Siding Market?

Vinyl sidings are available under different product types such as clapboard siding, dutch lap siding, beaded siding, cabin board siding etc. Amongst all other types, clapboard siding accounts for largest market share of 22.3% of the overall market share.

The growth is attributed to aesthetic appeal provided by the clapboard sidings to the building exteriors. According to the Fact.MR research, in 2021, more than 14,300 Mn. Sq. feet of vinyl clapboard sidings were sold in the global market. It is projected that the segment will grow at a CAGR of 5.3% during the forecast years owing to enhanced installation because of gaining traction on the account of rising resale value of a building.

Which end-use industry holds more market share and is poised to show more growth in Vinyl Siding Market?

The application of vinyl siding comprises of new construction and repair and rehabilitation. The new construction segment accounts for nearly 54.9% of the overall vinyl siding market share. The new construction comprises of residential and non-residential construction.

The new residential construction is estimated to register a CAGR of 4.9% during the forecast years of 2022-2032 and is likely to register global market volume share of more than 43%. However, the demand for vinyl sidings in new non-residential settings is likely to gain traction in coming years.

Competitive Landscape: Top Companies in Vinyl Siding Market

The global vinyl siding market is highly fragmented and competitive owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers and acquisitions, expansions, collaborations and partnerships.

Also, new product development as a strategic approach is adopted by the leading companies to upscale their market presence among consumers. These strategies have resulted in the incorporation of advanced vinyl siding.

Fact.MR has provided detailed information about price points of top manufacturers of vinyl siding market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.

For instance:

• In January 2022, Associated Materials Group Inc. and SVPGLOBAL have entered into an agreement in which SVPGLOBAL will acquire Associated Material Group Inc.
• In September 2021, Westlake Chemical has acquired Dimex LLC, from Grey Mountain Partners, a private equity firm.

Global Vinyl Siding Market by Category

• By Product Type :

  • Clapboard Siding
  • Dutch Lap Siding
  • Beaded Siding
  • Cabin Board Siding
  • Board & Batten Vertical Siding
  • Vertical Siding
  • Single Siding
  • Shake Siding

• By Insulation Type :

  • Insulated Siding
  • Non-Insulated Siding

• By End-User :

  • New Construction
    • Residential
    • Non-Residential
  • Repair & Rehabilitation
    • Residential
    • Non-Residential

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA