Vinyl to lead siding options in U.S. housing through 2014: study
Demand for siding in the U.S. is forecast to grow 6.5 per cent annually through 2014, valued at US$11.1 billio...
Plastics Industry Economic Changes/Forecast
Demand for siding in the U.S. is forecast to grow 6.5 per cent annually through 2014, valued at US$11.1 billion, and driven by a rebound in housing completions from depressed levels in 2009.
The prediction is part of a recent study by market research firm The Freedonia Group. The study, called “Siding to 2014”, forecasts that vinyl siding will remain the largest siding segment, accounting for about 40 per cent of demand in area terms in 2009.
Although housing completions will remain below the level reached at their cyclical peak in 2006, the study noted, the recovery will fuel above-average gains for the vinyl market through 2014. “Efforts by manufacturers to broaden the range of available colors and textures will promote gains going forward,” the study said.
“Vinyl siding’s popularity will continue to be supported by its low cost, ease of installation and durability, and will continue to supplant wood,” the study concluded.
For more information, visit this link.