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Global Fiber Cement Rainscreen Panels Market
The Fiber Cement Rainscreen Panels Market size was valued at USD 173.23 Billion in 2023. The fiber cement rainscreen panels industry is projected to grow from USD 185.08 Billion in 2024 to USD 320.22 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.09 % during the forecast period (2024 - 2032)
The construction industry has witnessed significant growth in the past few years, owing to an increased demand for buildings that use fiber cement panels, which are energy efficient materials. Fiber cement rainscreen panels offer effective solutions for temperature control and insulation while also meeting aesthetic requirements. These panels not only provide a range of benefits to buildings including protection against weather conditions, acoustic insulation, and fire protection but also ensures easy and quick installation and extended durability.
Fiber cement rainscreen panels are much more preferred over traditional roof panels and concrete panels as these panels are energy efficient and help in reducing the time required to complete construction projects. Since the focus on energy efficiency and economic feasibility in the construction industry has increased, the market for fiber cement rainscreen panels is anticipated to witness a tremendous growth rate during the forecast period. The increasing adoption rate of fiber cement rainscreen panels in the past few years can be attributed to their cost-effectiveness, which has created lucrative opportunities for the manufacturers.
However, the growth of the market might be hindered by the stringent regulations regarding the manufacturing of fiber cement panels products for rainscreen panels.
Regional Analysis: Global Fiber Cement Rainscreen Panels Market
Geographically, the global fiber cement rainscreen panels market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Europe accounted for the largest market share of around 35%, and is expected to retain its dominance during the forecast period. This can be attributed to the subsequent increase in investments from the public and private sectors in infrastructural construction projects in the region. Furthermore, the demand for fiber cement rainscreen panels is driven by the governmental regulations regarding reducing greenhouse emissions, the need to improve the cost efficiency of the buildings, and the adoption of the regulations regarding energy efficiency. Additionally, the presence of major fiber cement rainscreen panel manufacturers in this region boosts the overall market growth, further. For instance, James Hardie Industries plc (Ireland), Saint-Gobain SA (France), and Evonik Industries AG (Germany) are some of the key manufacturers that contribute to the significant share of Europe in the global fiber cement rainscreen panels market.
Asia-Pacific is the fastest growing region in the global market, owing to the growing infrastructure and construction industries and the rapid urbanization and industrialization rates. Additionally, the governments of developing countries in Asia-Pacific also support investments in the construction industry through their FDI policies, which further influences the growth of the fiber cement rainscreen panels market. Asia-Pacific hosts a number of distributors, suppliers, and wholesalers, and all major manufacturers are working on expanding their presence in this region as they expect to generate huge profits above the return-on-investment. Furthermore, the various energy efficiency policies are creating opportunities for the players operating in the fiber cement rainscreen panels market in Asia-Pacific.
North America accounted for the second largest market, which is anticipated to exhibit sustainable growth rate during the forecast period. Repair and renovation activities in the real estate and commercial sector is projected to augment the demand for fiber cement rainscreen panels in North America during the forecast period.
Key Players
The Key Players operating in the global market are Etex Group NV (Belgium), Evonik Industries AG (Germany), Saint-Gobain SA (France), American Fiber Cement Corp (US), Cladding Corp (US), James Hardie Industries plc (Ireland), Evonik Industries AG (Germany), Cembrit (Ireland), Guangdong Soben Green, and Sanle Group.
Segmentation: Global Fiber Cement Rainscreen Panels Market
The global fiber cement rainscreen panels market has been segmented based on type and application. On the basis of type, the global market is segmented into ultra-thin panels, thick panels, super thick panels, and conventional panels. On the basis of application, the global market is segmented as residential, commercial, and industrial.
On the basis of type, ultra-thin panels segment accounted for the largest market share of approximately 40% in the overall fiber cement rainscreen panels market. This segment is anticipated to witness significant growth rate, as these panels are cost-effective and provide good thermal insulation, long lifespan, air-tightness, and low maintenance costs. Applications of ultra-thin panels include rainscreen cladding systems and rainscreen wall systems for both residential and commercial buildings. These features make ultra-thin panels the dominating segment in the global fiber cement rainscreen panels market.
On the basis of application, the residential segment held the largest market share in 2018, which is expected to hold its position by 2024. This segment is also anticipated to witness the maximum growth rate in the market due to the rising demand for roofing and rainscreen wall systems in the construction industry.
The global fiber cement rainscreen panels market is extremely fragmented with many players, across the globe. The players adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players are expansions, investments, acquisitions, product development, and agreements.
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