CLEVELAND, Aug. 4, 2020 /PRNewswire/ -- Vinyl siding – the leading siding material in the US for over a generation – has ceded its role as the market leader to stucco, with fiber cement siding also seeing gains in share according to a recent article. This is not surprising, seeing that:
- Stucco is most often used in the South and West regions of the US, which have seen the fastest growth in new housing activity and existing home sales over the past decade.
- Vinyl siding holds a leading share in the Midwest and Northeast, which have seen less robust advances in residential building activity during that time.
- Fiber cement has seen gains due to its ability to be made to look like natural wood, while requiring less maintenance.
According to Freedonia Group analyst Matt Zielenski, these trends are expected to continue going forward. "The West is expected to see strong growth in new housing activity going forward, which will further promote installations of stucco siding, particularly in those parts of the US where a more Mediterranean style is preferred, such as Arizona and much of California. Furthermore, both the South and West will see above-average advances in population and home sales as people flock to these parts of the US for the weather. Given that home improvements – such as replacing older or worn siding – often occur before or soon after the purchase of a home, this will further support demand for stucco siding."
However, according to Zielenski, vinyl siding can continue to play a key role in the US housing market. "Vinyl siding offers homeowners a high level of durability, an important consideration for consumers who may only want to replace a product once in their lifetimes. Additionally, manufacturers are working to expand their offerings of cellular PVC siding – which better resembles the wood looks favored by homeowners – and insulated siding, that boosts a home's energy efficiency."
For more information and discussion of opportunities, see The Freedonia Group's extensive collection of off-the-shelf research, including the Siding report. Freedonia also offers an expanding catalog of COVID-19 Economic Impact reports, which highlight how various industries are responding to the current crisis with a comparison to recent recessions. Freedonia Custom Research is also available for questions requiring tailored market intelligence.
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SOURCE The Freedonia Group