U.S. siding demand to reach 111 million squares by 2008
A recovery in non-residential construction will drive a 1.4% increase per year in demand for siding through 2008, a...
A recovery in non-residential construction will drive a 1.4% increase per year in demand for siding through 2008, according to a new study released by The Freedonia Group. Additionally, advances will be aided by increases in residential remodeling. Growth in value is forecast to outpace gains in volume demand, increasing 3.9% annually to $10.2 billion in 2008. The greater advance in value will be powered by a variety of factors, including a shift toward higher value siding materials, the solid growth of several types of mid- to high-end siding materials, the rising cost of raw materials, and the increasing popularity of specialty features, such as integrated supplementary foam insulation, and factory applied finishes.
In 2003, vinyl siding accounted for the largest share of demand in volume, however siding sales in value terms are led by stucco and related non-brick masonry siding, which cost more than vinyl siding on a dollars per square foot basis, according to Freedonia. A copy of the report can be purchased by calling Freedonia at 440-684-9600