Certainteed vinyl siding exposure2/11/2024 ![]() “Vinyl siding remains the most cost-effective product and, according to a recent study released by the Vinyl Siding Institute, the most sustainable product a builder can use,” Booz says. Vinyl siding in particular is poised to take advantage of both rising demand for siding and the need for more affordable housing, says Steve Booz, vice president, marketing and product development at Royal Building Products. With the unemployment rate at a record low, home equity is at a record high, and homeowners are willing to invest a little more into remodeling.” “When mortgage rates go up, residents tend to lean toward renovating their current homes rather than moving and paying a higher rate on an expensive new home. “Experts are forecasting that the housing market is going to slow down in the coming years, but they’re seeing an uptick in renovations,” says Brian Kirn, product manager, Polymer Shakes and Shingles. We’re counting on something like 2% overall growth in single-family new, and about 3-5% in single-family repair and remodel.”ĬertainTeed is also expecting growth in the remodeling market this year to keep siding demand strong. “Repair and remodel is a very big segment for us, and it looks to be continuously growing. “We still feel confident about the housing and siding market,” says Sean Gadd, chief marketing officer for James Hardie. And companies that supply and produce siding products are also expecting solid growth. Overall siding demand is expected to grow by more than 3% annually over the next three years, according to research from The Freedonia Group. The siding market continues to look strong for 20-especially in remodeling and replacement-opening up ample opportunities for dealers to capitalize on that growth. Vibrant colors, low maintenance options key to siding market growth. ProVia introduced Nightfall, a deep, pure gray, this year for its HeartTech siding line.
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