Fiber Cement Market is predicted to reach USD 25.96404709 billion at a CAGR of 5.60% during the forecast period

Pune, India, May 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Fiber Cement Market.

Market Synopsis

The global fiber cement market was valued at USD 14,977.31 million in 2020 and is projected to reach USD 25.96404709 billion by 2032 at a CAGR of 5.60%. In terms of volume, the global market was sized at 29,274.4 kilotons in 2020 and is expected to register a CAGR of 5.60% to be sized at 38,945.5 kilotons by the end of the review period.

Fiber cement, also known as reinforced fiber cement, is a composite building material used in construction. It is mainly composed of Portland cement, fine silica (sand), cellulosic material, and other additives. Fiber cement is a low-cost composite material and provides resistance to fungi, mold, and bacteria, increasing its durability. Furthermore, the material is inert and, hence, can directly be dumped in landfills without causing harm to the environment.

Fiber cement products include boards, panels, and siding and are widely used in the construction of residential and commercial buildings due to their fire and impact-resistant properties. Fiber cement panels are used for exterior wall cladding, partition walls, ceilings, and decorative applications.

Competitive Landscape

The competitive landscape offers an analysis of the key developments by the companies operating in the global market in the last three years. The global market for synthetic fibers is projected to witness healthy growth during the forecast period, owing to the high demand from end-use applications such as Siding, Roofing, Flooring, Molding and Trim, Inner Lining, Fire and Acostic Walls, Partition Walls, and other application.

James Hardie Industries PLC (Ireland), Allura (US), Cembrit Holding A/S (Denmark), CSR Limited (Australia), Etex Group NV (Belgium), Toray Industries Inc. (US), American Fiber Cement Corporation (US), Nichiha (Japan), GAF (US), and Shandong Lutai Building Material Science, and Technology Group Co., Ltd (China).

Segmentation

By Product

• Boards : Fiber cement board is a stable performance and lightweight building & decoration board used as a major and natural Fiber reinforced, with the process of pulping, emulsion, forming, pressing, autoclaving, drying, and surface treatment. Its applications include interior dry wall decoration board, building partition board, suspended ceiling tiles, exterior wall cladding, roof lining board, lightweight grouting wall panel, etc.


• Panels : Fiber cement panels are composed of sand, cement, and cellulose Fibers which act as reinforcement. These panels are used as an exterior wall cladding material in residential, commercial, and industrial buildings.


• Others : The others segment includes products such as sheets and planks.

By Application

• Siding : Siding is a protective material attached to cover the exterior of a building in both commercial and domestic applications


• Roofing : Fiber cement is used as a covering on the floor to provide a walking surface. It is preferred due to its waterproofing, strength, and durability.


• Flooring : The inner lining is the finishing on the internal wall or ceiling surfaces of a space.


• Molding and Trim : Fiber cement is used in fire walls due to fire-resistant characteristics and acoustic walls as a soundproofing material.


• Inner Lining : A partition wall is a non-load-bearing interior wall designed to support only the materials of the wall itself; it does not support the ceiling or floor.


• Fire and Acostic Walls : Roofing is the top covering of a building providing protection against rain, snow, sunlight, extremes of temperature, and wind. Fiber cement is highly preferred for roofing applications due to its extensive properties, such as durability and strength.


• Partition Walls : Molding, also known as baseboard, is applied around the lower perimeter of the room along a finished floor. Trim is a type of millwork used on walls for both practical and decorative purposes.


• Others : The others segment includes applications such as underlayment, stairs, prefabricated structures, and window soffit.

By End Use

• Residential : In residential construction, it is extensively used in rooftop extensions, storage rooms, sentry posts, cottages, farmhouses, and site offices. Increasing population coupled with the trend of the nuclear family system is likely to result in extensive investment in residential construction. Furthermore, the affordable housing crisis faced by many countries across the globe is expected to result in increased residential construction, promoting the use of Fiber cement.


• Non-Residential : Fiber cement finds uses in offices, labour quarters, transit camps, rehabilitation centres, schools, health care centres, kiosks, etc. Infrastructural development in sectors such as healthcare and education worldwide is expected to drive the global Fiber cement market.Non- Residential is subdivided into Commercial, Industrial and Others.

By Region

• North America: Market growth is driven by the strict environmental regulations, presence of numerous players in this region. US account for largest market share in the region.


• Europe: The rising demand for eco-friendly materials for use in building construction is high. Moreover, the growth of energy-efficient buildings, growing construction activities, infrastructure and residential development is driving the market growth in Europe.


• Asia-Pacific: Asia-Pacific is estimated to be the largest fiber cement market during the forecast period. 


• South America: The growing demand is due to the rise in industrialization and increasing government investments in major countries.


• Middle East & Africa: The increase in construction activities in the residential and non-residential sectors and the rising level of support provided to the construction industry by the government of various countries in the Middle East are driving the demand for construction materials, including fiber cement boards.