Global Siding market outlook 2024, Forecast To 2033

The siding market has exhibited strong growth, progressing from $93.88 billion in 2023 to $98.62 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period is attributed to activities in residential and commercial construction, exterior home renovation and remodeling, the emphasis on weather resistance and durability, architectural and design preferences, and the increased focus on sustainable and eco-friendly siding options. As we look ahead to 2028, the market is anticipated to experience steady growth, reaching $119.58 billion at a CAGR of 4.9%. Key drivers in the forecast period include the implementation of energy-efficient and green building codes, the adoption of smart siding materials for automation, the demand for impact-resistant siding for severe weather conditions, the customization and personalization of siding, the impact of aging building infrastructure, and urbanization and suburban development. Major trends expected in the forecast period encompass solar-integrated siding for energy generation, self-cleaning and self-repairing siding materials, transparent and see-through siding options, flexible and lightweight siding materials, sustainable and biodegradable siding materials, as well as siding with noise reduction and acoustics.