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“Increase in the demand for non-residential construction activities is projected to drive the overall growth of the fiber cement market across the globe from 2020 to 2025.”
The global fiber cement market size is projected to grow from USD 16.4 billion in 2020 to USD 20.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.4%. The global fiber cement industry has witnessed high growth primarily because of the increasing demand for energy-efficient buildings worldwide. Increase in the government regulations on use of asbestos is another key factor contributing to the rising growth of the fiber cement market over the next few years.
“In terms of both volume, cellulosic material (fiber) segment to lead the fiber cement market by 2025.”
Cellulosic material (fiber) segment to dominate the fiber cement market during the forecast period. Cellulosic fibers are added to fiber cement to make it more durable and increase its structural integrity. This is the most critical material for fiber cement as it prevents the cracking of the cement after its application. The addition of fiber to cement also makes the cement nearly 40 times lighter than ordinary cement. Further, the fiber content also makes the cement less permeable to water.
“In terms of both value and volume, molding & trim is projected to be the fastest-growing segment from 2020 to 2025, for fiber cement.”
Molding and trim involves the creation of an aesthetic vertical accent between fiber cement panels. Trim is a general term used to describe the materials used around openings such as windows or doors, at the corner walls and ceilings, or floor intersections. Trim can also be applied on wall surfaces, for example, a chair rail or wainscoting. Molding is a type of trim, which can be characterized by its enhanced profile. Typically molding is more decorative and elaborate in detail. Traditionally, these are made from wood, plastic, metal, and engineered wood; however, new applications of fiber cement for molding and trimming have been on the rise in recent years.
“The non-residential segment is projected to be the fastest-growing end-use in the fiber cement market from 2020 to 2025.”
The non-residential segment is projected to be the fastest-growing segment in the fiber cement market. This is primarily due to favorable and lenient lending policies initiated by governments across the world, which is driving the growth of non-residential construction projects. The residential construction spending is estimated to increase, particularly in emerging regions, including Asia Pacific and Latin America. Rapid urbanization is observed in these regions, resulting in a higher growth rate of the residential sector than that of developed regions.
“In terms of both value and volume, the Asia Pacific fiber cement market is projected to grow at the highest CAGR during the forecast period.”
In terms of value and volume, the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2025 due to the strong demand from countries such as China, India, and Japan. Factors, including an increase in the demand for fiber cement products and increase in the government norms for the use of asbestos, are expected to drive the market for fiber cement in the Asia Pacific. Furthermore, non-residential construction activities are expected to accelerate over the next decade, owing to demographic shifts, evolution in global economic power, and growing urbanization in fast-growing economies, such as China, India, Singapore, Malaysia, and others in the Asia Pacific region. This, in turn, boost the growth of the fiber cement market by 2025.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the fiber cement market.
- By Company Type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 25%
- By Designation: C-level: 40%, D-level: 35%, and Others: 25%
- By Region: North America: 20%, Europe: 30%, Asia Pacific: 35%, Middle East & Africa: 10%, and South America: 5%
The global fiber cement market comprises major manufacturers, such as Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Toray Industries Inc (Japan), CSR Limited (Australia), and Nichiha Corporation (Japan).
The market study covers the fiber cement market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on material, application, end-use, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the fiber cement market.
Key Benefits of Buying the Report
- The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall fiber cement market and its segments and sub-segments.
- This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
- The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.