Vinyl Siding Market The research report covers the current scenario and growth prospects of Vinyl Sidingd Market for 2015-2026. The report covers the market landscape and its growth prospects in the years to come along with the discussion of the leading companies effective in this market. The Vinyl Siding Market was created based on an […]
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The Vinyl Siding Market Report analyzes the impact of Coronavirus (COVID-19) on the Vinyl Siding Industry.
Since the outbreak of the COVID-19 virus in December 2019, the disease has spread to more than 180 countries around the world. The World Health Organization has declared it a public health emergency. The global impact of Coronavirus Disease 2019 (COVID-19) is already being felt and will have a significant impact on the Vinyl Siding market in 2020.
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Undoubtedly, vinyl siding has critical mass when it comes to single family homes. It has been the top cladding selected for newly built houses since 1994 and has a 25-year reign after the wall portion is mainly made of aluminum and wood, but also brick.
Of the 840,000 single-family homes built in 2018, vinyl cladding was installed at 215,000 or 26 percent, compared with stucco at 25 percent, brick at 21 percent, fiber cement at 20 percent, wood at 5 percent, and other materials such as aluminum cladding at 2 percent.
According to the US Census Bureau, which publishes new housing numbers in its construction survey every July, vinyl siding is back the king of siding, despite the fact that the crown slipped from its high of 40 percent of the distribution in 2002.
Casey Olson, an industry analyst at Prinicipia Consulting LLC, said in a phone interview that the U.S. residential siding market is valued at $ 7.3 billion as of 2018 and is projected to reach $ 8.2 billion in 2021.
But new builds are only part of the picture, she added, noting that vinyl siding is also a popular cladding in the expanding remodeling market, where its use outperforms new build.
According to the National Association of Home Builders, a Washington-based trade group, spending on exterior and interior remodeling was $ 172 billion in 2018 and is projected to increase 1.6 percent this year and 1, 2020 1 percent increase.
Homeowners looking to upgrade their curb appeal are usually replaced with similar materials, so this bodes well for vinyl siding, Olson said. Nowadays they offer a wider variety of vibrant colors, sleek, modern profiles and products that can withstand sunlight and wind speeds of 300 km / h, withstand moisture and impact damage, and provide energy efficiency when insulated.
Prinicipia estimates the size of the siding market in 2018 at 63 million spaces. One square is equal to 100 square feet. The company tracks 10 siding materials that are in descending order by volume: vinyl, fiber cement, brick, wood-based panels, wood, stucco, masonry, veneer, polymer composites, and others such as metal.
Overall, vinyl siding has 28 percent of the national volume, or just under 18 million squares, Olson said.
“We estimate that more than three-quarters of the demand for vinyl siding in the US comes from the replacement market. It’s one of the highest of any materials,” said Olson. “Vinyl benefits from being in so many homes. That’s why competing materials sell against it.”
The competition takes place in manufacturing facilities, builders, design conferences, and state capitals as product innovations, material rivalries, and home design constraints have vinyl sides both in the spotlight and in the crosshairs. Everyone vies for a piece of wall.
Much of the wall is currently going to Cornerstone Building Brands Inc., which includes Ply Gem and NCI Building Systems. With sales of $ 2.1 billion, Cornerstone is the number 2 North American tube, profile and tube manufacturer according to the latest Plastics News ranking.
Other key players are CertainTeed, Royal, AMI, Kaycan, Style Crest, and Provia who sell a lot to prefabricated homes.
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