CLEVELAND, June 1, 2021 /PRNewswire/ -- Because of its popularity in the US and Canada, vinyl accounts for a much larger share of siding demand in North America – 25% in 2019 – than it does in most other regions. The material comprises less than 1% of the siding market in Mexico, where stucco is the most popular material.
However, vinyl siding has lost market share in North America over the past decade due to the use of more aesthetically pleasing materials such as fiber cement, and will continue to do so through 2024. Nevertheless, demand will climb because of increases in US single-family housing construction, a market where vinyl remains the most commonly chosen siding material.
Outside of the US and Canada, the best opportunities of vinyl siding are in areas like India, Brazil, Chile, and other countries in Central and South America – where prefabricated housing is growing in popularity. Vinyl is lightweight and relatively inexpensive, which makes it ideal for use on prefabricated units. Prefabricated housing is affordable and must be shipped to the final installation site. These qualities will allow vinyl to compete with brick, stone, and metal in areas where these heavier materials have traditionally been preferred.
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