According to a current analysis by Emergen Research, the global fiber cement market size is forecast to reach USD 21.40 Billion by 2027from USD 15.76 Billion in 2019, at a CAGR of 3.8% through the forecast period. Surging demand for fiber cement in construction activities, prohibition on the usage of asbestos, and the durable nature of fiber cement are the key factors stimulating market trends.
A recent study by the University of Minnesota indicates that fiber cement is one of the best materials for construction purposes owing to its high durability, low cost, and minimal negative impact on the environment. Fiber cement siding has a longer lifespan as compared to other traditional materials used in construction. The product is extensively used by home-owners and builders & contractors due to its superior physical properties.
Fiber is quite versatile in nature and blends well with natural as well as artificial textures. They are available in a variety of textures, shapes, and sizes, which can help to mold fiber cement appearances like wood, stucco, or masonry. Superior strength and aesthetics enhancement properties of the product are projected to boost fiber cement industry growth during the forecast period. Moreover, diversified products offering by emerging players in the global fiber cement market and surging demand for advanced construction material will foster market size through 2027.
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Further key findings from the report suggest:
- Based on application, the siding sub-segment is forecast to gain significant revenue share, delivering a CAGR of 4.2% through 2027. Extensive usage of siding due to exceptional product features, including insect resistance, durability, fireproofing, and also, safety in extreme conditions like natural calamities, will support segmental growth.
- Based on end-use, the non-residential sub-segment is set to showcase a notable growth rate of 4.1% over the projected timeframe. Commercial, agricultural, and industrial applications fall under the non-residential segment. Extensive usage of fiber cement in the construction of factories, warehouses, mills, and others is expected to boost segmental growth.
- In the regional landscape, North America is expected to dominate the global fiber cement market share over the analysis period. The prohibition on the usage of asbestos material for construction applications is fuelling the regional industry growth.
- The Asia Pacific region is forecast to register the fastest growth rate over the projected timeframe on account of rapid urbanization, industrialization, favorable government schemes for residential construction, and high investments in the construction sector. Emerging economies like China and India in the Asia Pacific region will be contributing significantly to the fiber cement market revenue share in the analysis period.
- Companies profiled in the global fiber cement market include CSR Limited, James Hardie Industries Plc., Etex Group NV, Toray Corporation, Alpha Roofing Industries LLC, Shandong Cement, Nichiha Corporation, American Fiber Cement Corporation, Swiss Pearl, and Cembrit Holding A/S, among others.
For this report, Emergen Research has segmented the Global Fiber Cement Market based on application, material, end-user, and region:
- Application Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- Wall Partitions
- Molding & Trim
- Material Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- Cellulosic Fiber
- Portland Cement
- End-user Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- Regional Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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