New York (US), May 19, 2023 (GLOBE NEWSWIRE) -- Fiber Cement Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Fiber Cement Market Information by Product, Application, End Use, and Region - Forecast till 2030”, Fiber Cement Market could thrive at a rate of 5.59% between 2021 and 2030. The market size will be reaching around USD 24.87 Billion by the end of the year 2030
Market Synopsis
Fiber cement is a composite material made up of cement, sand, and cellulose fibers. It is a durable, low-maintenance, and cost-effective alternative to traditional building materials like wood, vinyl, and stucco. Fiber cement products come in a variety of shapes and sizes, including siding, roofing, and trim.
Fiber cement is widely used in the construction industry for both residential and commercial buildings. It is ideal for harsh environments because of its resistance to moisture, fire, and insects. Fiber cement siding is a popular choice for homeowners because of its durability and low-maintenance requirements. It can also be used for interior walls and ceilings.
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Market Competitive Landscape:
The affluent companies in the Fiber Cement industry include
- James Hardie Industries
- Allura
- Cembrit Holding A/S
- CSR Limited
- Etex Group NV
- Toray Industries Inc
- American Fiber Cement Corporation
- Nichiha
- GAF
- Shandong Lutai Building Material Science and Technology Group Co Ltd
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size | 2030: 24.87 Billion |
| CAGR | 2030: 5.59% |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing need for the housing and lodging sector with the rapid industrialization |
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March 2022
James Hardie announced the acquisition of a German company, Fermacell, for €473 million. This acquisition will strengthen James Hardie's position in the European market, as Fermacell is a leading manufacturer of high-performance fiber gypsum boards in Europe.
Market USP Covered:
Market Drivers:
The fiber cement market is poised for growth in the coming years due to several key market drivers. One of the primary factors is the increasing demand for sustainable and eco-friendly building materials. With concerns about climate change and environmental sustainability on the rise, more and more consumers are seeking out building materials that are energy-efficient, long-lasting, and low-maintenance. Fiber cement products are an ideal choice because they are made from natural materials, are durable, and require very little maintenance, making them an eco-friendly choice for construction projects.
The rise in construction activities in developing countries is creating new opportunities for fiber cement manufacturers. Many developing countries are experiencing rapid urbanization, which has led to a surge in demand for affordable and durable housing. Fiber cement products are well-suited for use in these regions because they are cost-effective, easy to install, and can withstand harsh weather conditions, making them an ideal choice for affordable housing projects.
Market Restraints:
The fiber cement market also faces some market restraints. The availability of substitute materials, such as vinyl and wood, may limit the growth of the fiber cement market. Additionally, the high production costs of fiber cement products may hinder their adoption in some regions.
COVID 19 Analysis
The COVID-19 pandemic had a significant impact on the global economy, and the fiber cement market has not been immune to these effects. In the early stages of the pandemic, there were widespread lockdowns and disruptions in supply chains, which caused a temporary slowdown in demand for fiber cement products. Many construction projects were put on hold, and building materials manufacturers struggled to meet the demands of the market.
The fiber cement market is expected to recover and grow at a steady pace in the post-COVID scenario. As the pandemic recedes and construction activities resume, there will likely be a surge in demand for building materials, including fiber cement products. Additionally, the trend towards sustainable and eco-friendly building materials is expected to continue, which will further boost demand for fiber cement products, given their durability and low-maintenance requirements.
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Market Segmentation
By Product
The Product in the market includes Boards, Panels, and Others.
By Application
The Application in the market includes Siding, Roofing, Flooring, Molding and Trim, Inner Lining, Fire and Acoustic Walls, Partition Walls, and Others.
By End User
The End User in the market includes Residential, Non-Residential.
Regional Insights
The fiber cement market is a global market with significant growth potential in various regions. Asia-Pacific is expected to be the largest market for fiber cement due to the rapid growth of the construction industry in countries such as China and India. The increasing demand for affordable housing, commercial buildings, and infrastructure development is driving the demand for fiber cement in the region. Moreover, the large population base and the rising disposable income of consumers in the region have increased the demand for high-quality, durable, and sustainable building materials, further propelling the growth of the fiber cement market.
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North America and Europe are also significant markets for fiber cement due to the increasing demand for sustainable building materials. The growing awareness of climate change and environmental concerns has led to a shift towards the use of eco-friendly building materials. Fiber cement products are made from natural materials, have a low carbon footprint, and require minimal maintenance, making them an ideal choice for the environmentally-conscious consumer. Moreover, stringent regulations on building construction and energy efficiency in these regions have further boosted the demand for fiber cement products.
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