Key Takeaways
- In 2023, the U.S. siding market reached a total value of $12.8 billion, reflecting a 5.2% year-over-year growth driven by residential renovations.
- Global siding materials market was valued at $112.4 billion in 2022, projected to grow at a CAGR of 5.8% through 2030 due to urbanization.
- North American siding industry generated $15.6 billion in revenue in 2023, with vinyl siding accounting for 52% of sales.
- In 2023, vinyl siding held 51% of the U.S. residential siding market by volume, totaling 1.2 billion square feet installed.
- Fiber cement siding comprised 22% of U.S. market installations in 2022, up from 18% in 2018 due to durability preferences.
- Metal siding accounted for 12% of global siding material usage in 2023, popular in commercial applications.
- Average cost of vinyl siding installation in U.S. was $14,200 for a 2,000 sq ft home in 2023, including labor.
- Fiber cement siding installation averaged $16,500 per 2,000 sq ft in 2023, 16% higher than vinyl due to weight.
- U.S. siding labor costs rose 8.2% in 2023 to $5.50 per sq ft, driven by skilled worker shortages.
- 68% of U.S. siding replacements in 2023 occurred in the South, driven by hurricane recovery efforts.
- Midwest U.S. represented 22% of national siding installations in 2022, with vinyl at 60% dominance.
- Western states saw 15% siding market growth in 2023, led by California wildfires boosting fire-resistant materials.
- 72% of U.S. homeowners prefer vinyl siding for its low maintenance, per 2023 survey of 5,000 respondents.
- 45% of surveyed consumers prioritize energy efficiency in siding choices, up 10% from 2020.
- 61% of millennials opt for sustainable siding materials like fiber cement in 2023 purchases.
The siding market is growing globally, led by vinyl and driven by renovations and durable materials.
Consumer Behavior
- 72% of U.S. homeowners prefer vinyl siding for its low maintenance, per 2023 survey of 5,000 respondents.
- 45% of surveyed consumers prioritize energy efficiency in siding choices, up 10% from 2020.
- 61% of millennials opt for sustainable siding materials like fiber cement in 2023 purchases.
- Color preferences: 38% chose beige/gray tones for siding in 2022 U.S. residential projects.
- 55% of buyers influenced by neighbor's siding in decision-making, per 2023 real estate poll.
- Warranty length critical for 67% of consumers, with 25-year minimum expected in surveys.
- Online research drives 78% of siding purchases, with reviews impacting 92% of final choices.
- Low upfront cost sways 49% of budget-conscious homeowners to vinyl over premium options.
- 34% report improved home values post-siding upgrade, averaging 6.8% appreciation per appraisal data.
- 76% consumers value curb appeal in siding selection.
- 62% Gen Z prefer eco-friendly options like recycled composites.
- Dark colors chosen by 29% despite heat absorption concerns.
- 81% read online reviews before siding contractor hire.
- Durability over aesthetics for 71% in cold climates.
- 43% budget $10K-$20K for full home siding replacement.
- 29% select siding based on HOA guidelines.
Consumer Behavior Interpretation
Installation & Costs
- Average cost of vinyl siding installation in U.S. was $14,200 for a 2,000 sq ft home in 2023, including labor.
- Fiber cement siding installation averaged $16,500 per 2,000 sq ft in 2023, 16% higher than vinyl due to weight.
- U.S. siding labor costs rose 8.2% in 2023 to $5.50 per sq ft, driven by skilled worker shortages.
- Material costs for metal siding averaged $8.20 per sq ft in 2022, excluding installation fees.
- Wood siding replacement costs hit $18,900 for average home in 2023, including prep and painting.
- Composite siding installation time averaged 10 days for 2,000 sq ft in U.S., 20% faster than wood.
- Regional variation: Northeast U.S. siding install costs 12% above national average at $7.10/sq ft in 2023.
- Permits for siding projects cost average $450 in 2022, varying by municipality up to $1,200.
- Energy-efficient siding retrofits qualified for $3,200 average rebate under IRA in 2023.
- DIY siding installation saved 35% on labor costs but only 5% of projects were fully DIY in 2023.
- Average pro install speed 250 sq ft/day for vinyl in 2023.
- Fiber cement requires 2 workers vs 1.5 for vinyl, raising labor 18%.
- National average siding material cost $4.50/sq ft in 2023 for vinyl.
- Wood siding painting adds $2,100 avg cost every 5-7 years.
- Metal siding warranties average 40 years, boosting ROI to 68%.
- Permit denial rate for siding 2.1% in 2023 due to code issues.
- Southwest U.S. siding costs 22% below avg at $5.80/sq ft.
Installation & Costs Interpretation
Market Size & Revenue
- In 2023, the U.S. siding market reached a total value of $12.8 billion, reflecting a 5.2% year-over-year growth driven by residential renovations.
- Global siding materials market was valued at $112.4 billion in 2022, projected to grow at a CAGR of 5.8% through 2030 due to urbanization.
- North American siding industry generated $15.6 billion in revenue in 2023, with vinyl siding accounting for 52% of sales.
- U.S. residential siding expenditures totaled $9.2 billion in 2022, up 7.1% from 2021 amid housing boom.
- European siding market size stood at €8.7 billion in 2023, with fiber cement gaining 12% market penetration.
- Vinyl siding segment in the U.S. contributed $6.7 billion to industry revenue in 2023, dominating 54% share.
- Commercial siding market in U.S. valued at $3.1 billion in 2022, growing at 4.8% CAGR since 2017.
- Asia-Pacific siding market expanded to $45.2 billion in 2023, fueled by construction in China and India.
- U.S. siding contractors industry revenue hit $22.4 billion in 2023, employing over 45,000 workers.
- Fiber cement siding market globally valued at $4.9 billion in 2022, expected to reach $7.8 billion by 2030.
- U.S. siding exports rose 11% to $1.2B in 2023, targeting Latin America.
- Industry profit margins averaged 6.8% in 2023, highest for fiber cement at 9.2%.
- 42,500 businesses operated in U.S. siding sector in 2023, 3% increase YoY.
- Remodeling segment contributed 67% of $12.8B U.S. market in 2023.
- Canada siding revenue at CAD 4.1B in 2023, 6% growth from new homes.
- Global fiber cement exports totaled $2.3B in 2022, led by Australia.
Market Size & Revenue Interpretation
Product Segments
- In 2023, vinyl siding held 51% of the U.S. residential siding market by volume, totaling 1.2 billion square feet installed.
- Fiber cement siding comprised 22% of U.S. market installations in 2022, up from 18% in 2018 due to durability preferences.
- Metal siding accounted for 12% of global siding material usage in 2023, popular in commercial applications.
- Wood siding represented 8.5% of U.S. residential installations in 2023, declining 2% YoY due to maintenance costs.
- Engineered wood siding grew to 6.2% market share in North America by 2023, valued for low upkeep.
- Composite siding materials captured 4.1% of U.S. market in 2022, with sales of 450 million sq ft.
- Stucco siding usage dropped to 3.7% in U.S. residential sector in 2023, mainly in Southwest regions.
- Aluminum siding held 2.8% global share in 2023, favored for affordability in budget renovations.
- Brick veneer siding comprised 1.9% of new U.S. home installations in 2022, premium segment.
- Asphalt siding, though niche, represented 0.8% of market volume in 2023, used in rural areas.
- U.S. metal siding sales volume 320M sq ft in 2023, up 5%.
- Engineered wood siding production capacity hit 600M sq ft annually in NA 2023.
- Stucco siding market share stabilized at 4.2% in 2023 after 2021 decline.
- Composite sidings with 50% recycled content now 5.3% of sales.
- Brick siding installations down 15% to 12M sq ft in U.S. 2023.
- Asphalt shingle siding niche grew 3% to 9M sq ft in rural markets.
Product Segments Interpretation
Regional Distribution
- 68% of U.S. siding replacements in 2023 occurred in the South, driven by hurricane recovery efforts.
- Midwest U.S. represented 22% of national siding installations in 2022, with vinyl at 60% dominance.
- Western states saw 15% siding market growth in 2023, led by California wildfires boosting fire-resistant materials.
- Northeast U.S. fiber cement siding penetration reached 28% in 2023, highest regionally due to harsh weather.
- Southeast commercial siding projects totaled 1,800 in 2022, 25% above national average per capita.
- Texas alone installed 180 million sq ft of siding in 2023, 14% of U.S. total amid housing surge.
- Florida siding market valued at $1.9 billion in 2023, focused on impact-resistant products post-hurricanes.
- Canada siding installations hit 250 million sq ft in 2022, with 55% in Ontario and British Columbia.
- Rural U.S. areas accounted for 32% of siding volume in 2023, favoring affordable vinyl options.
- 52% of Pacific states siding installs in urban areas 2023.
- Ontario, Canada, 45% of national siding market volume.
- Midwest vinyl siding 65% share, highest regional penetration.
- California fire-rated siding mandates cover 85% new builds.
- Gulf Coast resilient siding up 32% post-2022 storms.
Regional Distribution Interpretation
Trends & Forecasts
- U.S. siding market forecasted to grow at 5.1% CAGR to $18.3 billion by 2028.
- Vinyl siding demand projected to increase 4.7% annually through 2030, reaching 1.5B sq ft.
- Fiber cement to capture 30% U.S. market share by 2027, driven by fire resistance codes.
- Smart siding with IoT sensors expected in 15% of new installs by 2030.
- Sustainable bio-based sidings to grow 12% CAGR, hitting $2.1B globally by 2028.
- Labor shortages to raise installation costs 6-8% annually until 2027.
- Post-2025, 40% of siding to incorporate recycled content per EPA mandates.
- Commercial retrofits to drive 28% of market growth by 2030 amid ESG pressures.
- Hurricane-prone areas to see 9.2% CAGR in resilient siding through 2032.
- Market to hit $20B U.S. by 2030 at 4.9% CAGR.
- Metal siding growth 7.2% CAGR to 2031 on durability.
- 25% rise in solar-integrated siding by 2028.
- Automation in factories to cut costs 15% by 2027.
- Wood alternatives to dominate 35% share by 2030.
Trends & Forecasts Interpretation
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