Abstract
Global siding demand to rise 3.8% yearly through 2010
World demand for exterior siding (or cladding) is forecast to climb 3.8
percent per year through 2010 to 5.1 billion square meters, valued at $69
billion. Market advances will be stimulated by a pickup in nonresidential
building construction activity as global economic growth accelerates and
industrialization efforts continue in less developed parts of the world.
Single-layer construction methods will continue to be used in many countries,
but rising standards of living will help make finished siding more affordable,
resulting in increased product use. China will record the largest gains of any
national market. Annual product demand in the nation will expand by 400
million square meters from 2005 to 2010, and China will surpass the US to
become the largest cladding market in the world. Sales growth is also expected
to be strong in India, as well as in lower-volume markets such as Saudi
Arabia, the Ukraine, Turkey, Indonesia, Poland and Iran.
Siding demand in developed countries will climb as well, although the rate of
increase will be less robust than in developing parts of the world. Product
sales in Western Europe will accelerate through 2010, and siding demand in
Japan is expected to exhibit renewed strength following an extended period of
decline. Market gains will be fueled by generally favorable economic
conditions and higher income levels in these areas, leading to growth in both
new and repair/remodeling building construction spending. In the US, overall
siding sales levels will remain essentially flat. Although nonresidential
building construction expenditures will increase through 2010, new housing
starts are expected to decline, preventing siding sales in the nation from
expanding at a faster pace.
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