CLEVELAND (May 1, 2:35 p.m. ET) – U.S. demand for vinyl siding is set to grow 6.6 percent annually between 2011 and 2016, according to a new market study. That follows a construction industry slump that saw demand drop 10.2 percent annually between 2006 and 2011.
Demand for vinyl siding will reach 32.9 million squares by 2016, up from 23.9 million squares in 2011, according to “Siding,” a report by Cleveland-based Freedonia Group Inc.
According to the report, demand for all types of siding will grow 8.4 percent per year through 2016 to 96.5 million squares, valued at $11.4 billion. Housing completions will remain below their 2006 peak, but a construction sector recovery will fuel above average gains in the residential siding market through 2016.
Vinyl will retain the largest share of siding demand, but fiber cement, stucco and brick will all see annual growth above 10 percent between 2011-2016.
The 365 page report costs $5,100.