Freedonia Predicts Steady Growth for U.S. Siding Market
Firm predicts 3% annual growth until 2021
Demand for siding in the U.S. is expected to increase 3% every year until 2021, according to a new Freedonia Group study announced today. Total growth is expected to hit 101.5 million squares within the next three years, coinciding with continued growth in commercial building and new housing in the South and West.
Freedonia, a Cleveland-based international industrial research company, predicts a large portion of the growth will be driven by metal panels, which will make up 18% of demand for commercial buildings. Fiber cement will be among the fastest-growing siding products, and is expected to increase 3.7% annually through 2021.
The full study, Siding Market in the US, 17th edition, is available for $5,600 from the Freedonia Group.