As the construction sector continues to recover, good news is on the horizon for the construction sector. Demand for siding in the U.S. is predicted to rise to 5.6 percent per year to 100 million squares in 2019. By 2019, siding demand will drive new residential markets and is expected to be the largest siding market. These and other trends are presented in Siding, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
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Brick and stucco siding are forecast to record the fastest advances in demand among siding types through 2019...Vinyl siding accounted for the largest share of siding demand in 2014 with nearly one-quarter of the total. However, vinyl siding’s market share has consistently fallen since 2004. Vinyl siding has faced continued competition from other materials perceived to be more aesthetically pleasing. Nevertheless, vinyl siding is expected to remain the leading material installed in the US through the forecast period because of its low cost, long lifespan, and minimal maintenance needs.