Luton, Bedfordshire, United Kingdom, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Fiber Cement Market.
The global Fiber Cement Market Size is expected to grow at a 2.51% CAGR from 2023 to 2029. It is expected to reach above USD 21.5 billion by 2029 from USD 17.2 billion in 2022. The fiber cement market is a rapidly growing industry that produces a variety of building materials made from a mixture of cement, sand, and cellulose fibers. These materials are highly durable, weather-resistant, and fire-resistant, making them an ideal choice for building exteriors, roofing, and siding.
The market for fiber cement products has been driven by a growing demand for sustainable and low-maintenance building materials, as well as increased construction activity in developing economies. The use of fiber cement has also been fueled by the need for improved energy efficiency and the desire for more aesthetically pleasing building exteriors.
The fiber cement market is segmented by application, product type, end-use industry, and geography. The major product types in the market include boards, sheets, and panels, while the primary end-use industries are residential, commercial, and industrial construction. Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Fiber Cement Market Recent Developments
- In March 2022, James Hardie Industries took a step further for its planned fiber cement capacity expansion by purchasing land in Melbourne, Victoria. The company plans to add a fiber cement manufacturing site in the State of Victoria to support the strong demand for high-value building solutions in the Asia Pacific region.
- As of January 2022, Swisspearl Group AG acquired Denmark’s fiber cement major, Cembrit, thereby emerging as the second-largest fiber cement manufacturer in Europe. This acquisition strengthened Swisspearl Group’s geographical reach and aided it in developing new focus markets
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Paradigm Shift Toward Green Building Drives the Market Growth
Fiber cement is more environmentally friendly as compared to asbestos. Thus, national governments have regulations in place to limit the use of asbestos and are trying to impose a ban on its use, resulting in increased usage of fiber cement as its ancillary. For instance, in 2005, the European Union banned the usage of asbestos in new products, as it is hazardous to health.
Moreover, countries are shifting toward green buildings and constructions, for which governments have offered several supportive creativities. For instance, the Government of Canada is encouraging the development of green and inclusive community facilities across the country through upgrades, retrofits, repairs, and new constructions. Furthermore, Mexico, like other developing countries, is also approval the green building trend. Mexico has joined the World Green Building Council and is trying to learn the best practices from Canada, Europe countries, and the U.S., in order to save money and gain the health advantages of green and sustainable buildings
| Report Attribute | Details |
| Fiber Cement Market size value in 2022 | USD 17.2 billion |
| Revenue forecast in 2029 | USD 21.5 billion |
| Market Growth rate | CAGR of 2.51% from 2023 to 2029 |
| Base year for estimation | 2022 |
| Historical data | 2018 - 2020 |
| Forecast period | 2023 - 2029 |
| Quantitative units | Revenue in USD Million, volume in units, CAGR from 2022 to 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, trends |
| Segments covered | By material; End Use; Application and By Regional |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Key companies profiled | Etex Group NV, James Hardie Industries PLC, Evonik Industries AG, Compagnie De Saint Gobain SA, Toray Industries Inc., CSR Limited, The Siam Cement Public Company Limited, Nichiha Corporation, Plycem Corporation, Cembrit Holding A/S, James Hardie, Nichiha Corporation and others. |
| Customization scope | Free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Companies Covered in Fiber Cement Market Report:
- Etex Group NV
- James Hardie Industries PLC
- Evonik Industries AG
- Compagnie De Saint Gobain SA
- Toray Industries Inc.
- CSR Limited
- The Siam Cement Public Company Limited
- Nichiha Corporation
- Plycem Corporation
- Cembrit Holding A/S
- James Hardie
- Nichiha Corporation
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Report Benefits
- Develop business strategies by understanding the trends shaping and driving the Market.
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Fiber Cement Market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company share of Fiber Cement Market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track sales in the global and country-specific Market.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Covid-19 Analysis:
COVID-19 severely impacted the global economy with devastating effects on global trade, which simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. The spread of COVID-19 substantially dropped construction activities around the globe, impacting the overall fiber cement market volume in 2020. The building material sector witnessed a huge drop in terms of trade due to lockdown restrictions in different countries, which hindered manufacturing operations during the COVID-19 pandemic. Procurement of raw materials was challenging owing to the disruption in logistics. The COVID-19 spread in China had great impact on the global fiber cement market, as it is the major manufacturer of Portland cement.
Key Benefits for Stakeholders
- This report provides a detailed quantitative analysis of the current fiber cement market trends and estimations from 2023 to 2029, which assists to identify the prevailing opportunities.
- An in-depth analysis of fiber cement market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
- Region-wise and country-wise market conditions are comprehensively analyzed in this report.
- The projections in this report are made by analyzing the current trends and future market potential from 2023 to 2029 in terms of value.
- An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
- Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global fiber cement market
Key Market Segments: Fiber Cement Market
By Material
- Portland Cement
- Sand
- Cellulosic Material (Fiber)
By End-Use
- Residential
- Non-Residential
By Application
- Molding and Trim
- Siding
- Roofing
- Wall Partitions
- Flooring
- Backer Boards
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Frequently Asked Questions About This Report
- How big is the Fiber Cement Market?
- What is the Fiber Cement Market growth?
- Which segment accounted for the largest Fiber Cement Market share?
- Who are the key players in the Fiber Cement Market?
- What are the factors driving the Fiber Cement Market?
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