Siding Market Trends and ForecastThe Canadian siding market is expected to reach an estimated $4.1 billion by 2027 with a CAGR of 5% from 2022 to 2027
Trends, opportunities and forecast in Canadian siding market to 2027 by material (fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and other materials), end use (residential and non-residential (healthcare, education, hospitality, retail, office, and others)), application (new construction and repair and maintenance), and territory (Quebec, British Columbia, Alberta, Ontario, and others).
New York, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Canadian Siding Market Report: Trends, Forecast and Competitive Analysis" - https://www.reportlinker.com/p06412306/?utm_source=GNW
Siding Market Trends and Forecast
The future of the Canadian siding market looks promising with opportunities in non-residential and residential construction. The Canadian siding market is expected to reach an estimated $4.1 billion by 2027 with a CAGR of 5% from 2022 to 2027. The major growth drivers for this market are increasing construction activities, growing repair and maintenance of building exteriors, and a rise in the hospitality industry.
Canadian Siding Market by Material, End Use, and Application
Emerging Trends in the Siding Market
Emerging trends which have a direct impact on the dynamics of the market include unpainted cellular siding for the exterior walls, smooth finish panel sidings, and increasing adoption of siding visualizer.
Siding Market by Segments
Siding Market by Segment
In this market, new construction is the largest application segment, whereas vinyl is the largest material segment. Growth in various segments of the siding market is given below.
The study includes trends and forecast for the Canadian siding market by material, end use, application, and territory, as follows:
Siding Market by Material [Value ($ Million) from 2016 to 2027]:
Fiber Cement
Vinyl
Metal
Stucco
Concrete and Stone
Brick
Wood
Other Materials
Siding Market by End Use [Value ($ Million) from 2016 to 2027]:
Residential
Non-Residential
Healthcare
Education
Hospitality
Retail
Office
Others
Siding Market by Application [Value ($ Million) from 2016 to 2027]:
New Construction
Repair and Maintenance
By Territory [Value ($ Million) from 2016 to 2027]:
Quebec
British Columbia
Alberta
Ontario
Others
List of Siding Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, siding companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the major siding companies profiled in this report include-
Cornerstone Building Brands
James Hardie
CertainTeed
Louisiana Pacific Corporation
Royal Building Products
Siding Market Insights
The analyst forecasts that the vinyl will remain the largest material type over the forecast period due low material and maintenance cost and availability of wide variety of colors.
Within the Canadian siding market, residential will remain the largest as well as fastest end use market during the forecast period due to increasing adoption of energy efficient homes.
Ontario is expected to remain the largest market and witness the highest growth over the forecast period, due to growth in the building and construction industry.
Features of Canadian Siding Market
Market Size Estimates: Canadian siding market size estimation in terms of value ($M) shipment.
Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and territories.
Segmentation Analysis: Canadian siding market size by various segments, such as material, application, end use, and territories in terms of value.
Regional Analysis: Canadian siding market breakdown by Quebec, British Columbia, Alberta, Ontario, and others.
Growth Opportunities: Analysis on growth opportunities in different materials, applications, end uses, and territories of the Canadian siding market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape for the Canadian siding market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the siding market size?
Answer: The Canadian siding market is expected to reach an estimated $4.1 billion by 2027.
Q2. What is the growth forecast for siding market?
Answer: The siding market is expected to grow at a CAGR of ~5% from 2022 to 2027.
Q3. What are the major drivers influencing the growth of the siding market?
Answer: The major growth drivers for this market are increasing construction activities, growing repair and maintenance of building exteriors, and a rise in the hospitality industry.
Q4. What are the major applications or end use industries for siding?
Answer: Residential and non-residential are the major end use industries for siding.
Q5. What are the emerging trends in the siding market?
Answer: Emerging trends which have a direct impact on the dynamics of the market include unpainted cellular siding for the exterior walls, smooth finish panel sidings, and increasing adoption of siding visualizer.
Q6. Who are the key siding companies?
Answer: Some of the key siding companies are as follows:
Cornerstone Building Brands
James Hardie
CertainTeed
Louisiana Pacific Corporation
Royal Building Products
Q7.
Which will be the largest siding material segment in the future?
Answer: The analyst forecasts that the vinyl will remain the largest material type over the forecast period due low material and maintenance cost and availability of wide variety of colors.
Q8: In siding market, which territory is expected to be the largest in next 5 years?
Answer: Ontario is projected to be the largest territory and witness the highest growth over the next 5 years.
Q9. Do we receive customization in this report?
Answer: Yes, The analyst provides 10% customization without any additional cost.
This report answers following 11 key questions
Q1 What are some of the most promising, high-growth opportunities for the Canadian siding market by material (fiber cement, vinyl, metal, stucco, concrete and stone, brick, wood, and other materials), end use (residential and non-residential (healthcare, education, hospitality, retail, office, and others)), application (new construction and repair and maintenance), and territory (Quebec, British Columbia, Alberta, Ontario, and others )?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which territory will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the Canadian siding market?
Q.5 What are the business risks and threats to the Canadian siding market?
Q.6 What are emerging trends in this Canadian siding market and the reasons behind them?
Q.7 What are some changing demands of customers in the Canadian siding market?
Q.8 What are the new developments in the Canadian siding market? Which companies are leading these developments?
Q.9 Who are the major players in the Canadian siding market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the Canadian siding market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the Canadian siding market?
For any questions related to Canadian siding market or related to siding manufacture, siding market, siding market size, siding market trends, siding market research, and siding manufacturer, siding companies, siding market share, siding market analysis, siding market size, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
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