Global Cladding Demand To See Steady Growth

Through 2024, global demand for siding (cladding) is projected to grow 1.9 per cent annually to 6.6 billion square metres, says research from Freedonia Group. Weakened global building construction activity due to the COVID-19 pandemic will cause siding demand to decline in 2020, but the market is expected to rebound quickly in 2021 as case numbers fall, economies reopen, and building activity returns to normal levels. Through 2024, gains will be supported by growth in non-residential building construction and rising new home construction. As well, increasing personal incomes and ongoing introduction of affordable fibre cement and vinyl siding products will drive growth. Through the forecast period, larger gains are expected for concrete, stone, fibre cement, and metal – all popular materials in the faster growing non-residential siding segment – than materials such as vinyl and wood, which see more residential use. The leading brick and tile segment is expected to continue to account for the largest share of global siding demand through 2024 due to the widespread use of these materials based on aesthetics, durability, and availability.