By Catherine Kavanaugh
STAFF REPORTER
Published: March 25, 2014 1:22 pm ET
Updated: March 25, 2014 1:26 pm ET
Vinyl siding accounts for the largest share of exterior cladding sales and that’s not going to change anytime soon. But other products are chipping away at its lead, according to a new report.
Brick, concrete and stone siding are expected to see the most rapid advances in demand, according to a new study from Freedonia Group Inc.
The Cleveland-based market research firm projects demand for siding will increase 7.1 percent a year to 2018, when 103.5 million squares valued at $12.1 billion will be sold. The forecast indicates all building materials will benefit from the highly anticipated rebound in construction activity but some more than others.
“Vinyl will remain the leading replacement siding material but will continue to be challenged by newer products with enhanced performance and aesthetic characteristics,” analyst Matt Zielenski said in a statement about trends presented in the 377-page study called Siding.
Vinyl siding demand has been shrinking from a 39 percent share of the U.S. market to 27 percent in 2013, the study says.
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