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All of the global siding market reports say the same thing: vinyl siding is the #1 residential siding material in the U.S. – and increasing in popularity worldwide. So let’s look at vinyl siding industry trends and the product’s anticipated market growth. Vinyl siding is taking the global market by storm!
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Vinyl Siding Industry Trends
The construction industry is partial to vinyl siding for many reasons – affordability and durability, to name a couple.
Overall, the use of vinyl siding increased by one percent from 2020 to 2021, but the market trends for 2023 may show an even more significant increase – because of these factors:
Designers are using vertical vinyl siding as accents.
Traditionally, siding panels are placed horizontally. However, vinyl siding’s flexibility and versatility allow architects to use vertical panels as accents. For example, you may see vinyl siding placed vertically below the roofline, by the entryway, or around the windows.
Consumer demand for eco-friendly materials is increasing.
Consumers want more eco-friendly options in residential construction, and the siding industry is paying attention. Vinyl siding is known for its insulative properties – with some products touting an impressive R-value 10x that of similar products on the market.
In addition, the siding market growth rate can be explained by the product’s ability to withstand harsh weather conditions without constantly needing repainting.
Vinyl siding makes homes more affordable.
One report published in an industry trade publication stated that the global siding market is anticipated to rise considerably during the forecast period because this product makes homes more affordable. Vinyl siding is one of the most budget-friendly siding options for homeowners.
Comparing the costs of different siding types:
- Vinyl Siding: $7.50 – $15.50 per square foot installed
- Wood Siding: $10.50 to $17.50 per square foot installed
- Fiber Cement Lap Siding: $10.50 and $17.50 per square foot installed
Vinyl siding replacement projects offer a great return on investment.
The vinyl siding market size got an additional boost with the publication of the Zonda Media annual cost vs. value report, which shows that vinyl siding replacement has the sixth-highest return on investment out of all remodeling projects.
The report states that homeowners recoup 67.2 percent of their vinyl siding replacement costs.
Global Vinyl Siding Market – The Industry Forecast
The vinyl siding market is expected to grow in market share over the next several years – in North America and worldwide. In fact, this report that studies the siding market dynamics states that vinyl siding is anticipated to surpass 10.3 billion USD in market share by the end of 2032.
Why Vinyl Siding is Increasing In Market Growth – Key Factors
- The siding market is a competitive landscape. However, the vinyl siding industry continues to improve its market share.
- Architects are finding innovative ways to use vinyl siding in home design, which will increase its popularity.
- Vinyl siding is considered eco-friendly because insulated siding improves a home’s efficiency and doesn’t require periodic painting or staining.
- Expect an increased market presence from vinyl siding because it is a low-maintenance, low-cost option.
- Vinyl is one of the most popular siding materials for new construction. But it’s also popular as a home remodeling project because it offers an excellent return on investment.
Woodbridge Home Solutions Offers an Amazing Warranty on Vinyl Siding Products and Installation
Your purchase is protected when you hire Woodbridge Home Solutions for your siding project. Our vinyl siding services are backed by a labor warranty and a manufacturer’s transferable lifetime warranty that even covers hail damage.
Use our Project Visualizer to see how our product will look on your home. And then, contact us to discuss financing options for qualifying homeowners and to schedule an obligation-free estimate.
Act quickly! Woodbridge Home Solutions currently offers 20% off siding and no payments until 2025!
