American demand for siding will grow 6.8% annually between 2009 and 2014 to reach 101.5 million squares worth $11.1 billion, the Freedonia Group forecast today.
A rebound in homebuilding will propel the siding market, the Cleveland-based industry market research firm said. Vinyl siding, which currently has 40% of the market, will continue to lead the way even though fiber cement and stucco will see larger percentage gains. But wood, the No. 2 siding choice, will fall behind fiber cement and stucco to a fourth-place tie with brick.
Vinyl siding demand will rise 6.3% per year between 2009 and 2014 to reach 40 million squares, Freedonia said. Wood will climb just 2% annually to 10.4 million squares, fiber cement will jump by 9.5% per year to 11.8 million squares, stucco will climb 9.3% annually to 10.6 million squares, and brick will enjoy 14.9% annual growth to the equivalent of 10.4 million squares. All other siding types combined will rise 3.2% annually to 18.3 million squares.
"Fiber cement siding demand will be promoted by its durability and ability to be made into siding that resembles more expensive materials, such as wood or brick," Freedonia said. "Stucco siding demand will be derived from its low cost, ease of installation, durability and minimal maintenance requirements. Homeowners will continue to desire brick siding due to its aesthetic properties, durability and fire resistance.
"Vinyl siding's popularity will continue to be supported by its low cost, ease of installation and durability," the company added, while wood siding demand "has been negatively affected by concerns about its durability and resistance to degradation caused by exposure to the elements. These issues will continue to affect demand going forward."
Freedonia sells a full copy of its report for $4,900.