1 Global Steel Siding Market Size (Revenue) and CAGR (2024-2033)
Global Steel Siding market generated revenue of USD 8511.62 Million in 2024 with a CAGR of 3.89% during 2024 to 2033.
The current market situation is characterized by a shift towards sustainable building practices, technological advancements, and a growing preference for steel siding in both developed and emerging economies. As the market continues to evolve, it is expected that the demand for steel siding will remain robust, driven by the industry’s commitment to innovation and sustainability.
Figure Global Steel Siding Market Size (M USD) Outlook (2024-2033)
2 Steel Siding Industry Trends
Table Industry Trends
Item | Descriptions |
Competition intensifies | With the development of the global economy, the construction of new houses continues to increase, and the construction of residential, commercial and industrial buildings has increased the demand for Steel Siding. There are more and more new entrants in the steel siding industry, and the market competition intensifies. At the same time, enterprises need to pay more attention to product performance and cost performance in order to bring competitive advantages to enterprises. |
Downstream markets are increasingly focused on sustainability | With the concept of sustainable development, consumers pay more and more attention to the sustainability of manufacturing materials when buying products. The level of sustainability and recycling of steel siding products provided by different manufacturers may vary, and the concept of sustainability requires companies to make sustainable products. As consumers become more and more concerned about the sustainability of products, the sustainability of products may gradually become an important concern for companies to adapt to the trend of sustainable development and develop products that consumers need, thus promoting the development of enterprises. |
3 Global Steel Siding Market by Type in 2024
Steel siding products are categorized into Horizontal Lap Siding, Shakes & Shingles, Soffit & Fascia, and Vertical Siding. Each type serves distinct purposes and comes with unique characteristics that cater to different architectural styles and building requirements.
Horizontal Lap Siding: Horizontal Lap Siding, accounting for the largest market share in 2024, is defined as wall boards installed horizontally. This traditional design, also known as lap siding, hangs exterior boards from left to right, providing a classic look to buildings. With a market share of 51.47% in 2024, Horizontal Lap Siding dominated the market, reflecting its widespread use in residential constructions due to its familiarity and cost-effectiveness.
Shakes & Shingles: Shakes & Shingles, distinguished by their natural appearance mimicking cedar shakes or weathered shingles, held a market share of 10.47% in 2024. Although not the largest, this product type experienced the fastest growth rate, with a CAGR of 5.13% from 2022 to 2028. The growth can be attributed to the increasing demand for rustic and natural-looking exteriors in both residential and commercial sectors.
Soffit & Fascia: Soffit & Fascia, seamless installed steel siding products, added an exquisite and streamlined appearance to various buildings. In 2024, this product type captured a market share of 5.93%. While it held a smaller share compared to Horizontal Lap Siding, Soffit & Fascia’s market size demonstrated steady growth, reflecting its importance in providing a clean and modern look to building exteriors.
Vertical Siding: Vertical Siding, installed in a more vertical manner, was considered more modern and gained popularity in recent years, especially in commercial and industrial applications. With a market share of 32.13% in 2024, Vertical Siding’s growth rate was 4.46% CAGR from 2022 to 2028, indicating a consistent demand for contemporary styling in building designs.
In 2024, Horizontal Lap Siding emerged as the product type with the biggest market share, while Shakes & Shingles exhibited the fastest growth rate. The market’s diversity in product types reflects the evolving preferences and needs of the construction industry. As the industry progresses, it is expected that product innovation and performance will continue to shape the market shares of these steel siding products.
Table Global Steel Siding Market Size and Share by Type in 2024
Type | Market Size (M USD) | Market Share (%) |
|---|---|---|
Horizontal Lap Siding | 4380.58 | 51.47 |
Shakes & Shingles | 891.44 | 10.47 |
Soffit & Fascia | 504.94 | 5.93 |
Vertical Siding | 2734.66 | 32.13 |
4 Global Steel Siding Market by Application in 2024
Steel siding is utilized in various applications, including Residential, Commercial, Industrial, and Other sectors. Each application has its own set of requirements and influences the market dynamics of steel siding products.
Residential: Residential applications of steel siding held the largest market share in 2024, with 50.00% of the total market. This dominance is due to the increasing demand for durable and low-maintenance exterior materials in new home constructions and residential remodeling projects. The market size for residential applications was $4330.81 million USD in 2024, reflecting the significant role steel siding plays in the housing sector.
Commercial: The Commercial application of steel siding saw a market share of 18.82% in 2024. This application includes the use of steel siding in office buildings, shopping centers, and other commercial structures. With a market size of $1602.09 million USD, the commercial sector’s demand for steel siding is driven by the material’s ability to provide a modern aesthetic and withstand the rigors of urban environments.
Industrial: Industrial applications of steel siding captured a market share of 21.97% in 2024. This application is characterized by the use of steel siding in factories, warehouses, and other industrial facilities. The market size for industrial applications was $1870.02 million USD, highlighting the importance of steel siding in providing robust protection and low maintenance in harsh industrial settings.
In 2024, the Residential application of steel siding had the biggest market share, while the Commercial sector exhibited the fastest growth rate. The distribution of market shares among different applications underscores the versatility and adaptability of steel siding across various sectors. As construction techniques and material preferences evolve, the market shares of these applications may shift, reflecting the dynamic nature of the construction industry and the growing importance of sustainable and durable building materials like steel siding.
Table Global Steel Siding Market Size and Share by Application in 2024
Application | Market Size (M USD) | Market Share (%) |
|---|---|---|
Residential | 4330.81 | 50.88 |
Commercial | 1602.09 | 18.82 |
Industrial | 1870.02 | 21.97 |
Other | 708.70 | 8.33 |
5 Global Steel Siding Market by Region in 2024
The global steel siding market experienced significant growth in 2024, with regions such as North America, Europe, and Asia Pacific showcasing robust demand.
North America secured its position as the largest revenue market, with a market size of $5752.93 million USD in 2024. This region’s dominance can be attributed to the strong construction activities and the high demand for durable, low-maintenance building materials. The United States, in particular, contributed significantly to this market share, driven by the country’s expansive construction industry and the increasing use of steel siding in both residential and commercial projects.
Europe followed as the second-largest market, with a revenue of $1211.04 million USD in 2024. The region’s market was bolstered by the recovery from the economic impacts of the COVID-19 pandemic, leading to a resurgence in construction activities. Additionally, the region’s focus on sustainable building practices has favored the use of steel siding, known for its recyclability and durability.
The Asia Pacific region emerged as the fastest-growing market, with a significant increase in demand, particularly in China, Japan, and India. The region’s growth can be linked to the rapid urbanization and the construction of new industrial and commercial buildings. The market in Asia Pacific is expected to continue its upward trend due to the ongoing economic growth and the push for modern construction materials in the region.
The 2024 data indicates that while North America maintained its position as the largest market by revenue, the Asia Pacific region showed the most promising growth. The global steel siding market’s expansion is driven by factors such as increasing construction activities, rising downstream demand, and a shift towards sustainable building materials. As the market continues to evolve, it is expected that regions with growing economies and a focus on sustainable construction will experience the most significant growth in the coming years.
Table Global Steel Siding Market Size, Region Wise in 2024
Region | Market Size (M USD) |
|---|---|
North America | 5752.93 |
Europe | 1211.04 |
6 Global Steel Siding Market Top 3 Players
Company Introduction and Business Overview: Established in 1978 and headquartered in the USA, ABC SEAMLESS is a prominent player in the steel siding industry. The company specializes in the manufacturing and installation of seamless steel siding, roofing, gutters, soffits, and fascia. With a strong presence in the US, Canada, and Mexico, ABC SEAMLESS has installed its durable and aesthetically pleasing steel siding in countless homes across North America.
Products Offered: ABC SEAMLESS offers a comprehensive range of steel siding products, including large gauge, hot-dip G-90 galvanized steel siding, which is thicker and stronger than other siding materials. Their product portfolio encompasses low maintenance and beautiful steel siding options that are energy efficient and customizable. In addition to home siding, they also supply and install steel metal roofs, seamless steel gutters, replacement home windows, and more.
Revenue in 2022: In 2022, ABC SEAMLESS reported a revenue of $210.65 million USD, showcasing its strong market position and the success of its product offerings in the steel siding industry.
Company Introduction and Business Overview: Associated Materials, founded in 1947, is a leader in exterior building products for residential and commercial remodeling and new construction markets. Operating 11 manufacturing plants in the US and Canada, Associated Materials produces vinyl windows, vinyl and composite siding, aluminum, and steel siding, among other products.
Products Offered: The company’s steel siding product portfolio includes Satinwood Select Seamless Steel Coil, which is known for its seamless finish, resistance to moisture absorption, and resistance to mildew growth. It features heavy-duty Galvalume AZ50 steel construction, Kynar PVDF coating technology, and a specially formulated color retention that resists chalking, pitting, chipping, and premature aging.
Revenue in 2022: Associated Materials generated a revenue of $157.08 million USD in 2022, reflecting its significant contribution to the steel siding market and its ability to meet the demands of the construction industry.
Company Introduction and Business Overview: Ply Gem, established in 1943, is North America’s leading manufacturer of exterior building materials, including windows, siding, stone, and over 40 other categories. Ply Gem caters to a wide range of building products for American residential builders, reconstructors, and architects.
Products Offered: Ply Gem’s steel siding product portfolio features Western Extreme, a product line known for its exceptional strength, performance technology, and detailed woodgrain texture. The product offers UV protection with specially formulated pigments and is sustainable and recyclable, providing an eco-friendly choice for consumers.
Revenue in 2022: In 2022, Ply Gem achieved a revenue of $97.89 million USD, indicating its substantial impact on the steel siding market and its success in providing high-quality exterior building materials.
Table Global Steel Siding Revenue Share of Top3 Players in 2022
Company | 2022 |
ABC SEAMLESS | 2.66% |
Associated Materials | 1.98% |
Ply Gem | 1.23% |