Wood panel siding is considered to be a very durable type of siding. Wood is very hard and can withstand a great deal of wear and tear. Some types of wood panel siding have been known to last for 50 years or more depending on the conditions. There are some types of siding that would wear better, like brick or stone, but wood is still a long-lasting type of siding material. When compared to the cost of other materials and the durability of wood, this is one of the best values that you can find.