Cladding and Siding Market Size, Share, Growth, And Industry Analysis by Type (Wood Cladding and Siding, Vinyl Cladding and Siding, Metal Cladding and Siding, Composite Cladding and Siding, Fiber Cement Cladding and Siding and Others) by Application (Residential Buildings, Commercial Buildings, Institutional Buildings, Industrial Buildings) Regional Insights, and Forecast From 2022 To 2030

Updated On: 11 September 2023

Cladding And Siding Market Report Overview

• 
• Request a Free Sample to learn more about this report

The global cladding and siding market size was USD 77.51 billion in 2022 and is expected to reach USD 94.83 billion in 2028, exhibiting a CAGR of 3.4% during the forecast period. 

Siding is the term used to describe the material used to clad, cover, and protect a building's outside walls. Fiber cement, vinyl, bricks, stucco, aluminum, asphalt, and other composite materials are a few of the often used siding materials. Depending on the needs of the user, they are applied to the roof and walls in a variety of forms and designs, including clapboard, shingles, shakes, verticals, and panels. Siding enhances a building's visual appeal while defending it from hazardous weather conditions, and fires, and providing thermal efficiency to regulate the building's temperature.

The primary element fueling cladding and siding market growth is the rising number of residential and commercial development projects worldwide. In the building sector, there is an increasing need for siding products that can endure weathering as well as exposure to chemicals and degradation. In addition, combining siding materials is a growing trend that gives buildings a distinctive aesthetic value by utilizing diverse siding materials with distinct textures and qualities. The suppliers have also been able to grow their clientele and meet a variety of needs thanks to improved distribution channels and the availability of a wide range of options. Government programs to build public infrastructure and the adoption of green siding materials are two additional drivers that are anticipated to fuel cladding and siding market growth.

COVID-19 Impact: International Travel Bans Had Restricted the Trade in Building Materials

The global COVID-19 pandemic has been unprecedented and staggering, with cladding and siding experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Construction material imports and exports have been impacted by the coronavirus. The world's top exporter of building supplies is China. Global imports and export are expected to decline as a result of the world economy's negative tendencies since the corona pandemic in 2019, the need for new building materials has drastically decreased as manufacturers and investors worry about an abnormally slowing economy. International travel restrictions have an impact on the commerce in building materials. As a result, the global supply and demand for building materials has nearly completely stopped. Due to the lockdown and lack of logistics in the area, manufacturers of construction supplies are the ones who are suffering the most from the viral pandemic.

Latest Trends

"Eco-Friendly Cladding Materials are an Important Development in the Market for Cladding Systems. "

A prominent trend gaining traction in the market for cladding systems is the use of eco-friendly cladding materials. To increase the cladding and siding market share, companies in the cladding systems industry are concentrating on creating eco-friendly cladding materials. The adoption of eco-preferred cladding systems is rising as customers' concern for the environment grows. One of the eco-friendly cladding materials is wood. Compared to other conventional construction materials like concrete, aluminium, and steel, wood cladding is a better heat insulator and soundproofer. An important factor in a building's energy efficiency is the heat insulator in the wood siding. The timber cladding is a completely waste-free organic material that is really renewable. For instance, the Wildwood composite cladding by Fiberon, introduced in 2021, combines the unmatched warmth and beauty of wood with the strength of high-performance, low-maintenance materials. SIKA, a speciality chemicals firm located in Switzerland that sells panel cladding materials, purchased Parex in May 2019 for an unknown sum.

Cladding And Siding Market Segmentation

• 
• Request a Free Sample to learn more about this report 

• By type

Depending on cladding and siding given are types: wood cladding and siding, vinyl cladding and siding, metal cladding and siding, composite cladding and siding, fiber cement cladding and siding and others. The wood cladding and siding type will capture the maximum market share through 2028.

• By Application

The market is divided in residential buildings, commercial buildings, institutional buildings, industrial buildings based on application. The global cladding and siding market players in cover segment like residential buildings will dominate the market share during 2022-2028.

Driving Factors

"Rise in Infrastructure Activities and Construction to Fuel Market Growth"

The development of the construction sector has a significant impact cladding and siding market share. The developing nations of the Asia Pacific area are where the majority of building work is done. Construction sectors are expanding in developed economies like the US and the UK. It is anticipated that the growing middle class and its purchasing habits would significantly alter the global economy. Urbanization is anticipated to be further boosted by the rising middle-class population's higher per capita income. When it comes to choosing certain services and products, the middle-class population has substantially gotten more picky. The need for cutting-edge forms of protection has risen as a result of changing lifestyles, high disposable budgets, and growing levels of awareness.

"Rising Need for Safety Features to improve building's aesthetic appeal to drive Market size "

A cladding system serves more purposes than merely shielding a structure from moisture and environmental blight. In addition to providing safety, cladding systems may significantly alter a building's look. They improve the building's image and attractiveness and give it a distinctive look. A broad variety of coatings are available with different colours and textures that contribute to improving a building's visual appeal. Additionally offered in a variety of hues and designs, pre-coated metal cladding sheets offer improved visual appeal with less negative environmental effect. A streamlined modular facade with low running costs is provided by the use of metal, wood, and fibre cement cladding. and even shield the historic buildings' external structures thus boosting the cladding and siding market size.

Restraining Factors

"High Installation and Raw Material Costs to Hinder the Market"

Cladding system popularity is being held back mostly by their expensive price and slightly challenging installation procedure. The primary materials utilised in the production of cladding systems include stucco, fibre cement, metal, and wood. The key factor influencing price changes for these raw materials is volatility in the cost of energy and crude oil, which are needed for production and transportation of these products. Prices of completed goods are violated as a result of these variations. Fiber cement and cedar (wood) cost more than vinyl or aluminium cladding sheets, which are more affordable. As of February 2022, vinyl siding costs between USD 3.5 and USD 7 5 per square foot, whereas fibre cement siding costs between USD 5 and USD 14 per square foot. However, significant firms frequently engage in innovations and R&D operations to lessen the price difference between these items.

Cladding And Siding Market Regional Insights

• 
• Request a Free Sample to learn more about this report

"Asia-Pacific to Dominate the Global Cladding and Siding Market"

Due to its dominance in the market and highest market share of worldwide revenue in 2021, the Asia Pacific area benefited from rising per capita income, fast urbanization, and population growth, as well as increased building activity in developing economies like China, India, and Japan. One of the areas of the globe with the quickest growth is the Asia-Pacific region. Some of the nations with the highest economic growth rates worldwide, as China, India, and Japan, are found in this area. This is anticipated to fuel the expansion of the region's construction market, which is anticipated to fuel the market for cladding and siding. The market for cladding and siding is divided into three categories: material, end-use industry, and geography.

Due to increased residential demand and government measures to improve social infrastructure in the U.S. and Canada, the North American cladding market is anticipated to expand significantly over the projected period. Additionally, rising consumer knowledge of the advantages of weather protection for buildings will help the industry expand.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by collaborating with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Kingspan (Ireland)
• James Hardie Industries (Ireland)
• Etex Group (Belgium)
• Nichiha (Japan)
• Arconic (U.S.)
• Boral (Australia)
• Isopan S.p.A (Italy)
• Rockwool International (Denmark)
• 3A Composites (Switzerland)
• NCI Building Systems (U.S.)
• Knauf (Germany)
• Tata Steel (India)
• Asahi Tostem (Japan)
• Yaret (China)
• Everite Building Products (South Africa)
• CCJX (Taiwan)
• Ruukki Construction (Finland)
• ArcelorMittal (Luxembourg)
• Metecno (Italy)
• Sika Group (Switzerland)
• Trespa Meteon (Netherlands)
• Cladding Corp (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.