Siding Market To witness Huge Expansion By 2030
Siding Market Summary The global siding market was valued at USD 126.25 billion in 2023 and is projected to reach USD 160.63 billion by 2030, expanding at a CAGR of 3.0% from 2024 to 2030. This growth is primarily attributed to the steady expansion of the global construction industry, rising population levels, increasing investments in residential infrastructure, and the surge in remodeling and renovation projects across developed and developing economies. Siding plays an essential role in enhancing the structural integrity and durability of buildings. It prevents water penetration into homes, thereby reducing risks of mold and mildew, while also improving insulation and energy efficiency. These benefits are expected to accelerate the adoption of siding materials during the forecast period. Key Market Trends & Insights North America led the global market in 2023, accounting for a revenue share of 15.0%. This dominance can be linked to strong demand for new housing...