888-776-0942 from 8 AM - 10 PM ET
CLEVELAND , March 10, 2022 /PRNewswire/ -- A new Freedonia Group analysis forecasts demand for composite siding in the US is forecast to increase 1.8% annually through 2025 to 48,000 squares valued at $172 million . Factors supporting demand growth include:
However, composite siding products are expected to be restrained by a lack of consumer and contractor familiarity with this type of siding and the high initial cost of many of these products compared to more mainstream materials, particularly vinyl.
Commercial Market to Drive Composite Siding Gains
The commercial market accounted for the majority of composite siding demand in 2020 and is expected to drive gains through 2025, according to the analysis. The light weight, durability, and aesthetic appeal of aluminum composite siding, for example, will lead to the increased adoption of this material on such commercial buildings as schools, healthcare facilities, government buildings, and car dealerships, where a metallic finish can provide a modern look while reducing the need for maintenance.
Faster adoption of these niche products will be restrained by the high cost of the material, as many cost-conscious institutional organizations and building owners opt for less expensive siding materials that provide comparable durability, even if they lack the same pleasing aesthetics.
Composite Siding, now available from The Freedonia Group, analyzes US demand for composite siding (e.g., glass-reinforced polymer and polystyrene foam; polyethylene and aluminum; fly ash, polyurethane, and glass fiber; polymer resin, inorganic materials, acrylic colorants; sawdust and HDPE; bamboo and plastic; fiberglass and natural stone) by material and market.
Historical data for 2010, 2015, and 2020 and forecasts for 2025 and 2030 are presented in squares and in current dollars (which are not adjusted for inflation).
About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
Press Contact: Corinne Gangloff +1 440.842.2400 [email protected]
More news releases in similar topics
Cision Distribution 888-776-0942 from 8 AM - 9 PM ET