The siding market is expected to grow 3.1% a year through 2021 to reach 101.5 million squares, according to the latest Freedonia Group report and ProSales magazine.
Key drivers of the growth over the next several years, the research firm reports, will be increasing new-home completions, particularly in the South and West, growth in residential re-siding activity, and an increase in light commercial projects such as retail, offices, and restaurants.
The Freedonia Group cited Boral as one of the industry’s leading players, alongside CertainTeed, James Hardie, LP, and Ply Gem.
Outdoor Living Remains Strong
In AIA’s latest Home Design Trends survey, architects indicated that demand for outdoor living is not only popular, but surging. Outdoor living was the most desired feature in the study, with 70% of architects reporting its popularity increasing minus those reporting it as decreasing. This figure was up from 58% in 2016.
By contrast, the next most popular special room was the mudroom, at 36% and declining.
Elsewhere in the survey, low maintenance products continue to be an in-demand product feature, with 63% of architects reporting an increase minus those reporting a decrease, compared to 59% the previous year. The only feature more popular was smart thermostats, at 64%. Synthetic materials were third most popular, rising from 48% to 52%.
Reflecting today’s trends, other special features in higher demand were multi-generational accessibility, first-floor master bedrooms, and wider doorways and hallways.