The fiber cement board market value is anticipated to reach US$ 27 billion by 2032, growing at a CAGR of 4.3%. It's expected this growth will be due in large part from new developments and innovations that are revolutionizing construction materials like never before
Fiber cement board is a material used for commercial, industrial and residential construction purposes. Fiber cement board is used for covering exteriors of a building in both domestic as well manufacturing applications. Fiber cement board is made up of plant extract cellulose, sand and cement where cement fits as an extremely hard material for load-bearing purposes while cellulose is used for aesthetic applications such as sidings, soffit, and trims, or as a tile backing board.
Construction industry extensively uses fiber cement board in residential and industrial development for applications such as flooring, ceiling, roofing and tile backing among other applications. Fiber cement board is water resistant, they are also more resistant to mold and mildew and do not disintegrate or break down due to continuous exposure to moisture. Fiber cement is made up of more than 90 percent of non-flammable material hence it is not flammable which makes it safe for use in various applications.
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Fiber Cement Board Market: Driver
Construction industry is a prominent end user in the fiber cement board market. In the recent years with the increasing population migration and urbanization, construction projects have seen a widespread increase across the globe. Focus on more planned cities and better living condition has been a priority for governments owing to multiple reasons such as to reduce wastage of resources, safer & healthier living conditions and long lasting new age buildings.
Fiber cement board is used prominently in the construction industry for applications such as flooring, siding and roofing among others. Growth in construction industry is expected to drive the fiber cement board extensively in the future. Increasing construction activities in large cities because of increasing demand for new housing as well as refurbishment of old constructions is also expected to increase the demand for fiber cement board in the coming years.
Increasing commercial construction activities are also expected to contribute to the growth of the fiber cement board market. Fiber cement board also holds an aesthetic advantage as it resembles wood planks or wood shingles which makes it a preferred options in the architecture sector also for its availability in a variety of colors. Moreover fiber cement board is a more eco-friendly options for residential applications.
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Fiber Cement Board Market: Restraints
Fiber cement board is an expensive construction material and cost more when compared to alternatives such as Vinyl boards for installation. Alternatives such as vinyl boards are more energy efficient, and also require less maintenance. Such factors are expected to impact the growth of fiber cement board market in the future. Vinyl sliding are preferred as they are more economically feasible when compared to fiber cement board which is expected to affect the market.
Fiber Cement Board Market: Regional Outlook
North America and Europe are expected to be front runners in the fiber cement board market. Countries such as U.K., Germany, North America and Spain among others are expected to be prominent countries in the fiber cement board market owing to high construction spending in these countries. Increasing construction activities in regions such as Asia Pacific, Latin America and some countries of MEA due to urbanization is expected to drive the market.
Rapidly growing population in countries such as China, India, and Indonesia is expected to increase the demand for more and better housing condition which is expected to drive the construction industry in the Asia Pacific region which in turn is expected to drive the fiber cement board market in the coming years. Regions such as North America and Europe are expected to hold stable and prominent shares in the global fiber cement board market. Middle East & Africa and Latin America regions are expected to provide new growth opportunities in the fiber cement board market.
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Fiber Cement Board Market: Key Participants
James Hardie Industries PLC, Etex Group NV, Cembrit, Mahaphant Fibre Cement Co., Ltd., Elementia, S.A.B de C.V., Everest Industries, Saint-Gobain, Hume Cemboard Industries, Nichiha Corporation, and Soben board Everest among others.
Fiber Cement Board Market: Segmentation
The Global Market of Fiber Cement Board can be segmented by: Raw Material
- Portland Cement
The Global Market of Fiber Cement Board can be segmented by: Application
- Commercial Buildings
- Residential Buildings
The Global Market of Fiber Cement Board can be segmented by: End Use
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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