Fiber Cement Market Analysis

Global Fiber Cement Market Overview

Fiber Cement Market Size was valued at USD 16.79 billion in 2023. The Fiber Cement industry is projected to grow from USD 17.73 Billion in 2024 to USD 25.96404709 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.88% during the forecast period (2024 - 2032). Increased investments in residential construction and rapid infrastructural development across the globe are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Fiber Cement Market Trends

• Paradigm shift toward green building is driving the market growth

Compared to asbestos, fiber cement is more environmentally friendly. As a result, national governments have policies to restrict the use of asbestos. They are attempting to outlaw it, leading to a rise in the utilization of fiber cement as an alternative. Asbestos, for instance, was prohibited from being used in new products by the European Union in 2005 because it poses a health risk. Additionally, nations are moving towards environmentally friendly building and construction practices, and governments have supported this trend with several initiatives. For instance, the Canadian government supports the creation of environmentally friendly and accessible community facilities across the nation through renovations, retrofits, maintenance work, and new building projects. This factor drives the market CAGR in the forecast period.

Additionally, the fiber cement market is thriving due to various factors. One of the primary factors driving the market's growth is the growing demand from the construction industry. Additionally, the ban on asbestos cement products and the efficiency and safety of fiber cement products have also contributed to the market's growth. Other significant factors include rapid urbanization and industrialization in developing countries, the availability of fiber cement products, anti-microbial properties, and the lightweight nature of fiber cement products, which facilitate transportation and reduce costs. The increase in infrastructure investments has also provided a significant opportunity for the fiber cement market. Thus, it drives the Fiber Cement market revenue.A brand-new high-density fiber cement exterior and interior cladding product called Vetérro was introduced by HVG Facades in 2024. The panels, which are an alternative to paint, have a concrete-like look that gradually changes in color and tone with age to give character. To facilitate the production of unique patterns, colored panels have also been added to the outside Vetérro collection.The goal behind the creation of Vetérro, a product made in Europe, was to build something robust and adaptable. The cladding can be used in commercial and residential buildings, as well as in healthcare and educational facilities, and it can be combined with other materials including brick, wood, and aluminum. The panels adhere to fire safety regulations and are non-combustible.

Fiber Cement Market Segment Insights

Fiber Cement Product Insights

Based on type, the fiber cement market segmentation includes boards, panels, and others. The board's segment dominated the market. The increasing demand for sustainable and eco-friendly building materials and the construction industry's growth is expected to drive the market for fiber cement boards.

Fiber Cement Application Insights

The Fiber Cement market segmentation, based on application, includes siding, roofing, flooring, molding and trim, inner lining, fire and acostic walls, and partition walls. The siding segment dominated the market due to its advantages. It withstands high winds compared to vinyl siding and is lighter and more economical than bricks and stone siding.

Fiber Cement End-Use Insights

Based on end use, the Fiber Cement market segmentation includes residential and non-residential. The non-residential segment dominated the market due to advantageous and permissive lending regulations implemented by governments across the globe, encouraging the development of non-residential building projects.

Figure1: Fiber Cement Market, by End Use, 2022 & 2032 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Fiber Cement Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American fiber cement market will dominate due to increased residential construction and the growing need for single-family dwellings, boosting the market growth in this Region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: FIBER CEMENT MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Fiber Cement market accounts for the second-largest market share because this Region is repurposing vacant properties, improving construction productivity, adopting proper land use, and enhancing design. It is possible to take the necessary measures to address the challenges of urbanization and promote sustainable development. Further, the German Fiber Cement market held the largest market share, and the UK Fiber Cement market was the fastest-growing market in the European Region

The Asia-Pacific Fiber Cement Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing population, disposable income increase, and investment in this Region's public and private construction sectors. Moreover, China’s Fiber Cement market held the largest market share, and the Indian Fiber Cement market was the fastest-growing market in the Asia-Pacific region.

Fiber Cement Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Fiber Cement market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The fiber cement industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Fiber Cement industry to benefit clients and increase the market sector. In recent years, the Fiber Cement industry has offered some of the most significant medical advantages. Major players in the Fiber Cement market, including James Hardie Industries PLC (Ireland), Allura (US), Cembrit Holding A/S (Denmark), CSR Limited (Australia), Etex Group NV (Belgium), Toray Industries Inc. (Japan), American Fiber Cement Corporation (US), Nichiha (US), GAF (US), and Shandong Lutai Building Material Science and Technology Group Co., ltd (China)., and others, are attempting to increase market demand by investing in research and development operations.

James Hardie Industries is a building materials company and a leading manufacturer of fiber cement products worldwide. The company is based in Ireland and listed on the Australian and New York Stock Exchanges, with its management team located in Chicago, Illinois. James Hardie Building Products recently launched an extension to its fiber cement product line with the Dream Collection, which includes over 700 ColorPlus Technology finishes. This expansion adds a diverse range of colors to their existing portfolio of fiber cement products.

Nama Chemicals is a joint stock company based in Saudi Arabia, established in 1992 to focus on developing and establishing industrial projects in the chemical and petrochemical sectors. The company recently announced that it had completed the scheduled periodic maintenance work on its Hassad project (Subsidiary Plant) and resumed plant operation and production from Wednesday, October 20, 2021, with all safety protocols in place.Grasim Industries Ltd.'s viscose staple fiber (VSF) division in 2023. The segment's performance for the nine months ending in December was negatively impacted by a decrease in demand and an increase in input costs. The VSF business's Ebitda margin for FY23 is predicted to decrease annually. The company mentioned at the most recent analysts' meeting that the segment's performance in the March quarter increased sequentially. Demand has increased as a result of China's economy opening up again.Everest Super, a line of vibrant fiber cement roofing sheets with non-corrosive qualities and resilience to heat and water, was introduced in 2023. In India, fiber cement roofs are being offered in color for the first time ever. Corrugated fiber cement roofing sheets promise low heat, low noise, and unique corrosion-free qualities. They are also reasonably priced and simple to install. These sheets provide you with a long-lasting product since they are constructed from the highest quality cement and fiber using a special fiber mesh technique.

Key Companies in the fiber cement market include

• 
  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)


• Shandong Lutai Building Material Science


• Technology Group Co., Ltd (China)

Fiber Cement Industry Developments

January 2019: Cembrit Holding AS released its new Product, Cembrit Patina Rough fiber cement cladding. This through-colored cladding board has a sandblasted surface that gives it a stone-like appearance, making it an appealing addition to their product range.

October 2021: On October 20, 2021, Nama Chemicals, a Saudi Arabian joint stock company focused on industrial projects in chemicals and petrochemicals, declared that it had finished its routine maintenance work on the Hassad project's subsidiary plant and that the plant was now operational and producing.

Fiber Cement Market Segmentation

Fiber Cement Product Outlook

• Boards


• Panels


• Others

Fiber Cement Application Outlook

• Siding


• Roofing


• Flooring


• Molding and Trim


• Inner Lining


• Fire and Acostic Walls


• Partition Walls


• Others

Fiber Cement End-Use Outlook

• Residential


• Non-Residential

Fiber Cement Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America