Navigating Fiber Cement Market Trends: USD 19.1 BILLION IN 2023 and Boasting a CAGR of 18.5% Projections by 2030
The latest report by MarkNtel Advisors, titled “Fiber Cement Market Fiber Cement Market – By Material (Cellulosic material, Portland cement, Sand), By Application (Cladding, Roofing, Siding, Molding & Trimming, Backer Boards, Wall Partition, Others), By End-User (Residential, Non-Residential), By Fiber Type (Polypropylene, PVA, Lignocellulose, Carbon, Others), By Production Process (Hatschek Process, Extrusion Process, Perlite Process), other and Region 2024-2030”, offers a comprehensive analysis of the industry, which comprises insights on the Fiber Cement Market research report.
What is the market outlook for Fiber Cement?
The Global Fiber Cement Market size was valued at USD 19.1 Billion in 2023 and is projected to grow at a CAGR of around 18.5% during the forecast period 2024-30.
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Major Companies Operating in the Fiber Cement Industry:
James Hardie Industries PLC (Ireland), Allura (US), Cembrit Holding A/S (Denmark), Etex Group NV (Belgium), American Fiber Cement Corporation (US), Toray Industries Inc. (Japan), Nichiha (Japan), Cembrit Holding A/S (Denmark), CSR Limited (Australia), Elementia
Fiber Cement Market Report Segmentation:
By Type
-Public
-Private
By Application
-Peer to Peer Energy Trading
-Regulation and Compliance Management
-Commodity Trading
-Electricity Data Management
-Grid Management
- Here, Siding is one of the significant applications of fiber cement.
By End User
-Power Utilities
-Oil and Gas
-Residential Communities
-Commercial & Industrial
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Regional Insights:
- North America: US, Canada, Mexico
- Europe: Germany, UK, France, Italy
- Asia-Pacific: China, India, Japan, South Korea
- South America: Brazil, Argentina
- Middle East & Africa: Saudi Arabia, South Africa, Rest of the Middle East & Africa
Global Fiber Cement Market Driver: Rising Prominence of Fiber Cement as an alternative to Asbestos in the Construction Industry
One of the significant key drivers responsible for the expansion of the market includes the rising prominence of fiber cement in the construction industry. Undoubtedly, the product has plenty of benefits to offer to its end users, and the market is projected to follow the footprints of success during 2024-2030. The growth can be attributed to the ban imposed on asbestos cement products. The International Ban Asbestos Secretariat (IBAS) reports that over 60 countries have enacted complete bans on Asbestos due to its well-known health and safety risks.
Since they are often used for residential construction for rooftop extensions, storage rooms, cottages, farmhouses, site offices, and so on, manufacturers have turned their focus to fiber cement as an alternative to Asbestos, citing their functional similarity. Moreover, due to its extended life, versatility, and attractiveness, paired with its remarkable resistance to fire, weather, warping, and rotting, the product has gained popularity in the construction industry. Such tremendous factors are urging the market to expand exponentially during the projected period.
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