Fiber Cement Market Set to Soar Past USD 25.47 Billion by 2030
The global Fiber Cement market size is expected to reach USD 25.47 billion by 2030 and exhibit a CAGR of 4.5% in the forecast period (2023−2030), according to Skyquest’s latest research report. The growing construction activities in emerging economies, increasing demand for durable and low-maintenance building materials, rising awareness about environmental sustainability, stringent regulations promoting the use of eco-friendly construction materials, and the ability of fiber cement to resist fire, insects, and harsh weather conditions. Additionally, the trend towards urbanization, emphasis on energy-efficient construction, and the rising popularity of fiber cement for applications in residential and commercial buildings contribute to the market’s growth is fueling the market’s growth.
Westford,USA, Feb. 09, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Fiber Cement market, growing preference for fiber cement siding as a durable and aesthetically pleasing exterior cladding solution. Additionally, the increasing popularity of fiber cement boards in interior applications, such as wall panels and ceiling tiles, reflects a broader trend towards incorporating these versatile materials for diverse construction purposes. Another noteworthy trend is the rising interest in fiber cement composites, blending traditional cement with alternative fibers to enhance performance and sustainability, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Fiber Cement Market”
- Pages – 157
- Tables – 91
- Figures – 76
Fiber cement is a composite material made from a mix of cement, sand, and cellulose fibers. Renowned for its durability, fire resistance, and low maintenance, fiber cement finds extensive use in construction, offering a versatile and eco-friendly alternative for siding, roofing, and various architectural applications.
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Prominent Players in Fiber Cement Market
- Etex Group (Belgium)
- James Hardie Industries (Australia)
- Nichiha Corporation (Japan)
- Saint-Gobain (France)
- CRH plc (Ireland)
- Eternit S.A. (Italy)
- HeidelbergCement AG (Germany)
- CEMEX S.A.B. de C.V. (Mexico)
- Calik Holding (Turkey)
- ASAHI Fiber Cement Co., Ltd. (Japan)
- EQUITONE (UK)
- Cembrit Holding A/S (Denmark)
- Thai Fiber Cement Board Co., Ltd. (Thailand)
- PT. Semen Indonesia Tbk (Indonesia)
- Vcomposit Systems Inc. (Canada)
- PGT Industries, Inc. (US)
- Rieder (Austria)
- Schiedel (Germany)
- Durock (South Africa)
- Uniboard (Canada)
Residential Construction Demand to Grow Substantially in the Forecast Period
Residential Construction dominated the global online market due to the increasing global population, rapid urbanization, and a growing trend toward affordable and sustainable housing are driving the demand for residential construction. Fiber cement products, known for their durability, low maintenance, and resistance to various environmental factors, align well with the preferences of homeowners and builders.
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Siding is the Leading Application Segment
In terms of application, the siding is the leading segment due to the due to the widespread adoption of fiber cement siding in both residential and non-residential construction projects. Fiber cement siding offers a compelling combination of durability, low maintenance, and aesthetic appeal, making it a popular choice among builders and homeowners. The siding segment benefits from the versatility of fiber cement, which can replicate the look of traditional materials like wood or stone while providing enhanced resistance to fire, insects, and harsh weather conditions.
Asia-Pacific is the leading Market Due to the Booming Construction Industry
Region-wise, Asia-Pacific is one of the largest growing markets due to the rapid urbanization, booming construction industry, and increasing demand for sustainable building materials in countries like China and India. The Asia-Pacific region is witnessing significant infrastructure development and a surge in residential and commercial construction projects, driven by population growth and urban migration. Fiber cement’s popularity in this region can be attributed to its durability, versatility, and ability to withstand challenging climatic conditions prevalent in many parts of Asia.
A recent report thoroughly analyzes the major players operating within the Fiber Cement market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Fiber Cement.
Key Developments in Fiber Cement Market
- James Hardie Industries made significant progress in its expansion plans for fiber cement production by acquiring land in Melbourne, Victoria. This strategic move aims to establish a new fiber cement manufacturing facility in the state of Victoria, Australia, to meet the growing demand for premium building solutions in the Asia Pacific region. By investing in this expansion, James Hardie Industries demonstrates its commitment to catering to the increasing market needs and strengthening its position in the industry.
- Swisspearl Group AG completed the acquisition of Cembrit, a prominent fiber cement manufacturer in Denmark. This strategic acquisition positioned Swisspearl Group as the second-largest fiber cement manufacturer in Europe. The integration of Cembrit’s operations into Swisspearl Group expanded its geographical presence and provided opportunities to explore new focus markets. This move enhances Swisspearl Group’s competitive position and allows for further development and innovation within the fiber cement industry.
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Key Questions Answered in Fiber Cement Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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