Fiber Cement Siding Demand to Exceed 2 Billion Square Feet in 2022
May 21, 2018 (Investorideas.com Newswire) Demand for fiber cement siding is forecast to grow 3.3% per year to 2.1 billion square feet in 2022. Fiber cement siding sales will continue to outperform those of most other siding products. Market value will reach $1.6 billion in 2022, aided by increases in average prices and a shift in the product mix to higher value products. These and other trends are presented in Fiber Cement in the US, 3rd Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Growth in fiber cement sales will come from three main areas:
- strength in US building construction
- gains in market share, especially at the expense of vinyl siding
- product improvements, including the introduction of premium siding grades
The market for fiber cement siding totaled 1.8 billion square feet ($1.2 billion) in 2017, accounting for 70% of total fiber cement sales. Fiber cement is the second most widely used type of siding behind vinyl, and has captured an expanding share of the overall siding market in recent years largely due to its aesthetic and performance advantages over vinyl, hardboard, and natural wood.
Backerboard was responsible for the second largest share of fiber cement demand, accounting for 25% of sales. Moulding and trim is a much smaller application for fiber cement, as it faces significant competition from wood and engineered wood products. The little remaining fiber cement demand is accounted for by products such as roofing and porch ceilings.
Fiber Cement in the US, 3rd Edition (published 5/2018, 137 pages) is available for $5300 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email email@example.com.
Related studies include:
#3617 Moulding & Trim in the US, 7th Edition (March 2018)
#3602 Siding Market in the US, 17th Edition (January 2018)
About The Freedonia Group, a division of MarketResearch.com - The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Construction & Building Products studies can be purchased at https://www.freedoniagroup.com/, www.marketresearch.com and www.profound.com.
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