The Global Fiber Cement Board Market is expected to grow from USD 2.1 billion in 2018 to USD 2.263 Billion by 2025, registering a CAGR of 7.4%.
By Raw Material: Portland cement is used as the base for the majority of fiber cement boards due to its standardization and ease of availability. Fiber cement boards made from this material can be used for a variety of purposes depending on the density and thickness. They are utilized for their weather resistance and long life. The Portland cement segment is expected to be larger. For niche applications, silica fiber cement boards are utilized. Silica is more compact than Portland cement and offers better thermal conduction; however, it is also more expensive.
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By Type: Fiber cement boards can be classified, based on their density, as low density, medium density, and high density. The primary advantage of low-density fiber cement board is its low cost and ease of manufacture. It finds utility in reduced stress applications such as interior ceilings and partitions. However, it is not very durable and, therefore, cannot be used in high-stress environments. The largest segment is projected to be high-density fiber cement board due to the excellent durability, weather resistance, and sound dampening properties of this type. High-density fiber cement boards are used extensively in non-residential construction and to a certain extent in residential construction where a high degree of weather protection is required. Medium-density fiber cement boards are an excellent compromise between the qualities offered by the high-density boards and the affordable pricing of the low-density boards.
By Application: Fiber cement boards are used extensively in residential and non-residential applications. The residential buildings application segment of the global fiber cement board market is growing due to the low maintenance required for these boards post installation. The boards also provide excellent weather resistance and are resistant to fire and biological agents such as termites and mildew. The non-residential buildings segment is projected to be larger. This is due to the size of the non-residential construction market. Moreover, the qualitative improvement offered by fiber cement board increases markedly with the increase in the quantity of the product being used. The low maintenance costs and other properties of fiber cement boards offset their high costs. In April 2018, James Hardie Industries PLC, a manufacturer of fiber cement board, acquired XI (DL) Holdings GmbH for USD 523 million in order to expand operations throughout Europe and North America.
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