Fiber Cement Market:
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Global Fiber Cement Market is valued approximately USD 15.80 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.2% over the forecast period 2019-2026. The fiber cement is considered as a material which affixes to the exterior of both residential and commercial spaces due to its characteristics as resistance to wear and tear to concrete along with benefiting the residential space by keeping it sustainable from harsh elements of the environment. The residential sector is the primary user of fiber cement. The fiber cement market is primarily driven owing to surging construction sector which include both residential and commercial spaces, escalating number of smart city projects, rising disposable income of the individuals along with housing projects initiatives by the central governments. However, the impact of COVID-19 has negatively impacted the infrastructure development and construction activities in both developed and developing countries and would continue to do so due to shortage of labor and the impact of this pandemic would result into the rise in prices of fiber cements ultimately leading to restraining the development and growth of fiber cement in the coming months. Moreover, the surging construction sector which include both residential and commercial spaces is acting as key factor towards the utility and adoption of fiber cement as fiber cement are majorly used in the exterior applications of housing and buildings. For instance: According to International Construction Market Survey, the growth rate of construction industry globally in the year 2017 was estimated to be around 3.5% and it was estimated to reach to 3.9% (approx.) in the year 2018. In addition, as per the annual report of European Construction Industry Federation (FIEC) in 2017, it is stated that construction activity in entire Europe grew by around 2.2% in the year 2016 (reaching approximately 1,278 billion Euro) compared to the year 2015. Similarly, in the year 2017, a similar surge is forecasted (more than 2%) followed by increase of 3% in the year 2018 resulting into positively influencing the development and growth of fiber cement market. However, high cost of fiber cements as compared to traditional cements impedes the growth of the market over the forecast period of 2020-2026.
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The regional analysis of global Fiber Cement market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the surging construction sector which include both residential and commercial spaces along with rising disposable income of the individuals. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as escalating number of smart city projects along with government initiatives such as housing projects would create lucrative growth prospects for the Fiber Cement market across Asia-Pacific region.
Major market player included in this report are:
James Hardie Building Products Inc
Zykron Fibre Cement Solutions
Etex Group NV
Toray Industries Inc.
The Siam Fibre-Cement Company Ltd
Building Materials Corporation of America
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Raw Material:
Molding and Trimming
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Fiber Cement Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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