By Nick Gilbert
Principia has released a new report on the residential siding and trim market. It forecasts the demand for residential siding and trim to increase from $7.2 billion in 2011 to $9.1 billion by 2014.
The report “Residential Siding & Trim 2012” states that the market for exterior trim estimated at 1.7 million linear feet in 2011 will grow at 10% CAGR to 2.3 million linear feet in 2014. The siding market will grow at 7% CAGR from $5.8 billion in 2011 to $7.2 billion in 2014.
New construction and the increasing need for repair are expected to fuel the growth of the residential siding and trim market. New products being developed are designed for easy installation and to adhere to the present and future standards and codes, commented Ken Jacobson, Partner at Principia.
The new report provides an assessment of the residential siding and trims market and identifies channel opportunities. It provides strategic insights into the residential siding and trims growth markets through 2014. A review of the market share of major product producers is also provided. Insights on customer feedback on important trends and drivers are also discussed. Further, the strategies for competitive advantage and value creation as well as implications of modification in distribution channels are also discussed.
The report is a result of direct interviews that Principia had conducted with 150 professionals including, building product manufacturers, builders, distributors, wholesalers, contractors, and product installers.