Increasing construction of residential and commercial sites drives the demand for Fiber Cement Board through the forecast period at a CAGR of 5.1% during the forecast period 2024 to 2032

Market Research Future (MRFR) has published a cooked research report on the “Global Fiber Cement Board Market” that contains information from 2019 to 2032.

The Global Fiber Cement Board Market is estimated to register a CAGR of 5.1% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the Global Fiber Cement Board Market— James Hardie, Nuvoco Vistas Corp Ltd, HIL Limited, CenturyPly, Allura.

Market Highlights

The Global Fiber Cement Board Market is estimated to register a CAGR of 5.1% during the forecast period and is estimated to reach USD 23,333.0 Million by 2032.

The key driver of the fiber cement board market is the demand for building materials that will endure for a long time and have minimal maintenance requirements. Increasing construction of residential and commercial sites also creates demand for larger, more complex projects, placing ever-growing demands on builders and property owners to locate materials that can withstand harsh environmental conditions of extreme temperatures, high humidity, and intense UV radiation. Fiber cement boards are a mix of cement, silica, and cellulose fibers with excellent moisture, fire, termite, and rot resistance. As such, they are ideal for exterior cladding and roofing in extreme climates. The construction sector of the global industry is experiencing more large-scale commercial projects, such as high-rise buildings, industrial facilities, and shopping complexes, which need very durable materials. In such applications, high-density fiber cement boards are liked because of the strength and also the ability of resistance to impacts and wear over time.

Another key driver for the growth in demand for fiber cement boards is mounting pressure on sustainable and environmentally friendly construction practices. Governments around the world become more stringent in their environmental regulations and building codes as they seek to cut down on carbon emissions and improve energy efficiency; this can bring a growing emphasis on sustainable and green building materials into the construction industry. With all these qualities, these cement boards are considered to be one of the best alternative materials to the traditional vinyl, aluminum, and wood materials. The raw materials used in forming these cement boards are natural, non-toxic, and recyclable, which add to their advantages. This green building movement has really gained much momentum in recent years as architects, builders, and developers increasingly try to use materials that have minimal effects on the environment. This should be a good fit then with the trend as these fiber cement boards contribute to LEED certification, the globally recognized standard of green buildings. These boards are produced using a relatively low-energy production process and contain no harmful chemicals such as asbestos, once common in older building materials. The move towards greener building methods can be seen more clearly in areas like Europe, where stringent building requirements call for the adoption of more sustainable materials to be used for new constructions or restorations.

The raw material cost in the manufacturing of this product is among the very critical constraints in the fiber cement board market. Fiber cement boards consist mainly of cement, silica, cellulose fibers, and other additives, all of which give such significant value to the product's durability and strength. However, the rising prices of these main raw materials, especially cement and silica, are a significant constraint for manufacturers. Cement prices have seen a continued rise owing to supply constraints, higher energy prices, and the construction industry's healthy demand worldwide. Again, silica extraction and refining for fiber cement board production are energy-intensive activities, so any energy-related cost escalation directly affects this value. In addition to raw materials costs, transportation for those materials is included in the cost, especially in places where quality silica or cement sources are not readily available. Asia Pacific is one of the largest markets for fiber cement board and some countries within it rely on imports of cement, leaving the product vulnerable to changes in global cement prices. Such increases in costs can be better understood in India, where the cost of cement has increased sharply due to fuel price hikes and a disruption in the supply chain. The increasing cost finds its way into the end consumer, making fiber cement boards costlier when compared with other forms of cladding and construction materials that could be wood or vinyl siding alternatives.

Expansion of new applications, particularly in new construction and renovation, is the first big opportunity in the fiber cement board market. Even though fiber cement boards were mainly used for exterior cladding and roofing applications till date, growing usage is anticipated in future applications for interior walls, ceilings, and flooring. As materials evolve in the construction process, architects and builders increasingly seek flexible products that can be applied anywhere in the structure with uniformity of design, durability, and sustainability. Some probable areas are to use fiber cement boards in modular construction. Modular construction uses building parts prefabricated off-site, assembled on-site, thus saving time, labor, and cost on the construction site. They are perfect for the use in modular constructions with immense strength, fire resistance, and lightweight. They can be pre-cut for any preferred dimension with both interior and exterior applications; it is the attractive option for developers looking towards streamlining construction processes. Companies like CSR Limited have begun to capitalize on this opportunity by including fiber cement boards in modular building systems, especially for affordable housing projects in Australia and New Zealand.

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Segment Analysis

The Global Fiber Cement Board Market has been segmented based By Product Type, By Raw Material, By Application, By Production Process, By End Use.

Based on the product, the global fiber cement board market has been segmented into High Density Board, Medium Density Board, Low Density Board. High-Density Fiber Cement Boards (HDBs) are stronger, harder, and more resistant to weather conditions such as moisture, fire, and impact. These boards have a greater percentage of cement and other reinforcement materials; thus, they are denser and harder than medium and low-density boards. Usually, HDBs represent a density of over 1,500 kg/m³, thus they are ideal for heavy-duty use. Their use in commercial buildings as well as industrial buildings is not only using them as exterior cladding, fire-rated walls, and high impact. Since their strength and durability make HDBs relatively resistant to cracking from rain of heavy intensity, extreme temperatures, or strong winds. HDBs are recommended in coastal or high-humidity areas because they absorb no water. They will not swell, warp, or deteriorate. In addition, with resistance to termites, rot, and mildew, they ensure long-term reliability in adverse conditions. They are, therefore, a preferred choice of large commercial buildings, industrial plants, and institutional structures requiring extended longevity and very low maintenance.

Regional Analysis

The report on the Global Fiber Cement Board Market has been segmented based on region as North America, Europe, Asia-Pacific, Rest of the world. Growing considerably, the North America fiber cement board market is destined to look wider at the signs of renovation activities with greater demand for sustainable materials in building purposes. Cities are on an expansion spree and expanding the population contributes to the ever-increasing need for durable and aesthetically versatile materials for both residential and commercial construction. Fiber cement boards have advantages such as high performance, minimum maintenance, fire-, moisture-, and pest-proof, so it is used in diversified applications. In the US, the market share of firms like James Hardie dominates the fiber cement board industry. However, the siding segment is dominated by James Hardie. One prominent example is the HardiePlank and HardiePanel line under the James Hardie product portfolio. These have emphasized aesthetics and performance to meet the demands of modern construction. Other major players-their names-include CertainTeed and Allura-participate actively in the growth of this market by offering a whole stream of fiber cement boards that can vary in accordance with the requirements of builders and residents. Given the existence of competition in these markets, innovation leads to better formulations of products with sustainability.

Key Findings of the Study

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  The Global Fiber Cement Board Market is expected to reach USD 23,333.0 Million by 2032, at a CAGR of 5.1% during the forecast period.

  
  


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  The Asia Pacific region accounted for the fastest-growing global market due to the significant industrial infrastructure growth.