As construction businesses across several parts of the world are witnessing surplus profits and aggressive expansion, the need for adopting protective materials to safeguard the health of buildings from external factors has increased. Rain, winds, snow or lightings – several environmental factors can degrade the quality of the constructed building by damaging its exteriors, and penetrating through it to affect the interiors. Plastic materials or polymers made of vinyl compounds are being used to develop weatherproofing solutions for exteriors of buildings. This has propelled the demand for vinyl sidings across residential and commercial real estate sectors. Homeowners are installing vinyl sidings for allowing their house to stay protected throughout the years.
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Durability and high resistance to external factors are the key criteria influencing the manufacturing of vinyl sidings. Moreover, companies manufacturing vinyl sidings are also focused upon meeting the requirements of homeowners interested in using these sidings for decorative purposes. However, production of vinyl sidings continues to create a slew of environmental problems. Emission of volatile gasses during production of vinyl polymers continues to challenge manufacturers. In addition, lack of proper disposal options and poor reusability of vinyl sidings further hinders companies to deliver absolute compliance with environmental laws.
According to a recent forecast study by Fact.MR, the global vinyl siding market is poised to expand at a moderate pace during the forecast period, 2017-2026. The report projects that by the end of 2026, nearly US$ 60 Bn worth of vinyl sidings will be sold across the globe. The report further expects that the global vinyl sidings market will expand at a 4% CAGR in terms of volume during the forecast period.
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5 Key Insights on Future of Global Vinyl Sidings Market
- The report estimates that clapboard sidings will represent top-selling product in the global vinyl sidings market through 2026. By the end of forecast period, nearly 18,000 Mn. sq. feet of vinyl clapboard sidings will be sold across the globe.
- Demand for Dutch lap sidings, board & batten vertical sidings and vertical sidings is also poised to gain traction in the years to come.
- In 2017, vinyl sidings were predominantly used in weatherproofing of new residential constructions, which registered global sales of 12,700 Mn. sq. feet. The end-use of vinyl sidings in residential repair and rehabilitation will also translate into high revenues during the forecast period. New non-residential end-use of vinyl sidings will register highest growth at a volume CAGR of 4.9%.
- The report reveals that by the end of 2026, nearly 20,000 Mn. sq. feet of insulated vinyl sidings will be sold across the globe. The demand for non-insulated vinyl sidings will lose traction towards the end of the forecast period, albeit, accounting for highest global market volume share.
- The report further reveals that North America will be at the forefront of global vinyl sidings market expansion. By 2026, the US and Canada will collectively register sales of more than 18,000 Mn. sq. feet of vinyl sidings. The Asia-Pacific excluding Japan (APEJ) is also pegged to remain lucrative for manufacturing vinyl sidings in the foreseeable future.
The report has profiled leading manufacturers of vinyl sidings, which include, Alcoa Inc., Associated Materials Group Inc., Axiall Corporation, BASF SE, Alside Inc., CertainTeed Corporation, Sibco Building Products, Ply Gem Holdings, Ferriot Inc., Koch Industries, Acme Brick, American Original Building Products, ASC Profile Inc., Berkshire Hathaway Incorporated, Variform Inc., Royal Building Products, and Kaycan Ltd. These companies will be observed as key players in the global vinyl sidings market through 2026. In the near future, optimizing the use of plastics, incorporating advanced engineering methods, and improving the durability of vinyl sidings will be among the key priorities of vinyl sidings market players.
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Content Source: https://www.factmr.com/media-release/396/vinyl-siding-market