Dublin, Feb. 28, 2022 (GLOBE NEWSWIRE) -- The "Fiber Cement Siding Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material, Type, and End-User" report has been added to ResearchAndMarkets.com's offering.
The fiber cement siding market was valued at US$ 3,963.50 million in 2021 and is projected to reach US$ 6,229.51 million by 2028; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028.
The fiber cement sidings provide multiple opportunities to builders, contractors, and homeowners in terms of attracting customers, generating revenues, and helping in expanding their business globally. Fiber cement siding offers a better exterior look of the house at an affordable price rate as compared with its alternatives and is also fire and heat resistant. Fiber cement has a flame spread rating of 0, which is similar to a brick. Also, the fiber cement siding is extremely weather resistant and can easily bear extreme heat and humid conditions. These benefits are attracting a number of builders or contractors as well as individual customers, which is increasing the sales of the product across regions. This is thereby catalyzing the fiber cement siding market.
According to the International Energy Agency (IEA) Report of 2020, the building or housing sectors are getting extra benefits from increased government investment, as buildings have been the primary target for energy efficiency stimulus spending announcements till date. Further, in a few regions, the scale of this investment could be large enough to significantly boost technical efficiency. For instance, according to the US News & World Report L.P. data of June 2020, the US is now focusing on modernizing its infrastructure with the construction of energy-efficient buildings.
The US Mayors, such as Concord, New Hampshire; Denton, Texas; Denver, Colorado; Fayetteville, Arkansas; Minneapolis, Minnesota; and Norman, Oklahoma, are taking actions on climate change. The measures supported by the federal government include several programs to modernize existing buildings with better insulation and more efficient heating systems. Therefore, with this focus on energy-efficient buildings, the use of fiber cement sidings will continue to increase the construction of residential buildings worldwide, which results in the growing demand for energy-efficient buildings globally, thereby creating future opportunities for fiber cement siding market players.
Impact of COVID-19 on Fiber Cement Siding Market Growth
APAC is characterized by many developing countries, with a positive economic outlook, high residential and industrial presence, huge population, and rise in disposable income. All these factors make it a major contributor to the fiber cement siding market growth. However, prolonged lockdown periods due to the COVID-19 pandemic resulted in a huge decline in the growth of the construction industry in the region in 2020, which has affected the demand for fiber cement siding. Several raw material providers discontinued their production activities across various countries during the initial phase of COVID-19 to avoid the further spread of the disease. This halt in production led to reduced supplies in various Asian countries, including India and China. However, the relaxation in lockdown restrictions and the ongoing vaccination processes support the steady raw material shipment and industrial activities, which boosted the growth of the fiber cement siding market in APAC in 2021.
Geographically, the global fiber cement siding market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). North America dominated the market, followed by APAC, Europe, and RoW. APAC is the fastest-growing region in the fiber cement siding market due to the prominent presence of fiber cement siding market players in China, Australia, and Japan. These companies include CSR Limited; Nichiha Co. Ltd.; Toray Industries Inc.; Everest Technopolis; SHERA Public Company Limited; 2K Technologies; Yunion Industry Limited; KMEW Co., Ltd.; SHIN KWANG CO., LTD.; HVG Facades Pty Ltd; and BGC Fibre Cement. Also, the residential and commercial sectors in APAC are expected to grow at an impressive rate in the next decade. In Europe, the western region is characterized by decorative houses - leading to high demand for fiber cement siding, thereby driving the fiber cement siding market - while Eastern Europe still poses a limited demand for the same. Russia has the presence of a few fiber cement siding market players.
Cembrit Holding A/S; CSR Limited; Allura, Etex Group; GAF Materials LLC; James Hardie Industries plc; SHERA Public Company Limited; NICHIHA Co., Ltd; and Toray Industries, Inc. are among the key players operating in the global fiber cement siding market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global fiber cement siding market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the fiber cement siding market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
- Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia-Pacific, and Rest of World.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Fiber Cement Siding Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Rest of World
4.3 Ecosystem Analysis
5. Fiber Cement Siding Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rise in the Residential and Commercial Construction Activities
5.1.2 Low Cost of Fiber Cement Siding
5.2 Market Restraints
5.2.1 Numerous Health Problems Associated with Installation of Fiber Cement Siding
5.2.2 Durability and Resilience of Fiber Cement Siding
5.3 Market Opportunities
5.3.1 Rising Benefits of Fiber Cement Sidings
5.4 Future Trend
5.4.1 Increasing Demand for Energy-Efficient Buildings
5.5 Impact Analysis of Drivers and Restraints
6. Fiber Cement Siding - Global Market Analysis
6.1 Fiber Cement Siding Market Global Overview
6.2 Fiber Cement Siding Market - Revenue and Forecast to 2028 (US$ Million)
6.3 Market Positioning - Global Market Players Ranking
7. Fiber Cement Siding Market Analysis - By Material
7.1 Overview
7.2 Fiber Cement Siding Market Breakdown, By Material, 2020 and 2028
7.3 Portland Cement
7.3.1 Overview
7.3.2 Portland Cement: Fiber Cement Siding Market Revenue and Forecast to 2028 (US$ Million)
7.4 Silica
7.4.1 Overview
7.4.2 Silica: Fiber Cement Siding Market Revenue and Forecast to 2028 (US$ Million)
7.5 Cellulosic Fiber
7.5.1 Overview
7.5.2 Cellulosic Fiber: Fiber Cement Siding Market Revenue and Forecast to 2028 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: Fiber Cement Siding Market Revenue and Forecast to 2028 (US$ Million)
8. Fiber Cement Siding Market Analysis - By Type
8.1 Overview
8.2 Fiber Cement Siding Market Breakdown, By Type, 2020 and 2028
8.3 Clapboard
8.3.1 Overview
8.3.2 Clapboard: Fiber Cement Siding Market Revenue and Forecast to 2028 (US$ Million)
8.4 Shingles
8.4.1 Overview
8.4.2 Shingles: Fiber Cement Siding Market Revenue and Forecast to 2028 (US$ Million)
8.5 Stone or Stucco
8.5.1 Overview
8.5.2 Stone or Stucco: Fiber Cement Siding Market Revenue and Forecast to 2028 (US$ Million)
9. Fiber Cement Siding Market Analysis- By End-User
9.1 Overview
9.2 Fiber Cement Siding Market Breakdown, By End-User, 2020 and 2028
9.3 Residential
9.3.1 Overview
9.3.2 Residential: Fiber Cement Siding Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial: Fiber Cement Siding Market Revenue and Forecast to 2028 (US$ Million)
10. Fiber Cement Siding Market - Geographic Analysis
11. Impact of COVID-19 Outbreak
11.1 Impact of COVID-19 Pandemic on Global Fiber Cement Siding Market
11.1.1 North America: Impact Assessment of COVID-19 Pandemic
11.1.2 Europe: Impact Assessment of COVID-19 Pandemic
11.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.1.4 Rest of the World: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
13. Company Profiles
13.1 Allure
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Cembrit Holding A/S
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 CSR LIMITED
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 ETEX GROUP
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 GAF
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 James Hardie Industries plc
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 NICHIHA Co., Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 TORAY INDUSTRIES, INC
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 SHERA Public Company Limited
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/vr9fx9
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