If you sell siding and your sales aren’t what they were three or four years ago, take comfort. According to a recent report by The Freedonia Group, a market research firm in Cleveland that tracks product evolution and home improvement purchasing trends, total U.S. demand for siding of all kinds.
Both for renovation and new construction plunged from 112.3 million squares in 2004 to 74 million squares in 2009. This 33% drop roughly parallels a 75% fall in new-home construction but also indicates falling demand for siding used in renovation, i.e., siding replacement.
Uptick to Growth Spurt
The good news: This year Freedonia projects the start of an uptick in the siding market, which will lengthen into a growth spurt of 6.5% per year through 2014 and beyond “driven by a rebound in housing completions.”
Though housing completions won’t reach pre-2006 levels, the report suggests they’ll be high enough to fuel demand for siding, though demand won’t rise to 2004 levels again until 2019.
http://www.replacementcontractoronline.com/fiberreinforced-concrete/siding-surge-ahead.aspx
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