The fiber cement siding market was valued at US$ 3,963.50 million in 2021 and is projected to reach US$ 6,229.51 million by 2028; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028.

The fiber cement sidings provide multiple opportunities to builders, contractors, and homeowners in terms of attracting customers, generating revenues, and helping in expanding their business globally. Fiber cement siding offers a better exterior look of the house at an affordable price rate as compared with its alternatives and is also fire and heat resistant. Fiber cement has a flame spread rating of 0, which is similar to a brick. Also, the fiber cement siding is extremely weather resistant and can easily bear extreme heat and humid conditions. These benefits are attracting a number of builders or contractors as well as individual customers, which is increasing the sales of the product across regions. This is thereby catalyzing the fiber cement siding market.

According to the International Energy Agency (IEA) Report of 2020, the building or housing sectors are getting extra benefits from increased government investment, as buildings have been the primary target for energy efficiency stimulus spending announcements till date. Further, in a few regions, the scale of this investment could be large enough to significantly boost technical efficiency. For instance, according to the US News & World Report L.P. data of June 2020, the US is now focusing on modernizing its infrastructure with the construction of energy-efficient buildings. The US Mayors, such as Concord, New Hampshire; Denton, Texas; Denver, Colorado; Fayetteville, Arkansas; Minneapolis, Minnesota; and Norman, Oklahoma, are taking actions on climate change. The measures supported by the federal government include several programs to modernize existing buildings with better insulation and more efficient heating systems. Therefore, with this focus on energy-efficient buildings, the use of fiber cement sidings will continue to increase the construction of residential buildings worldwide, which results in the growing demand for energy-efficient buildings globally, thereby creating future opportunities for fiber cement siding market players.

Impact of COVID-19 on Fiber Cement Siding Market Growth
APAC is characterized by many developing countries, with a positive economic outlook, high residential and industrial presence, huge population, and rise in disposable income. All these factors make it a major contributor to the fiber cement siding market growth. However, prolonged lockdown periods due to the COVID-19 pandemic resulted in a huge decline in the growth of the construction industry in the region in 2020, which has affected the demand for fiber cement siding. Several raw material providers discontinued their production activities across various countries during the initial phase of COVID-19 to avoid the further spread of the disease. This halt in production led to reduced supplies in various Asian countries, including India and China. However, the relaxation in lockdown restrictions and the ongoing vaccination processes support the steady raw material shipment and industrial activities, which boosted the growth of the fiber cement siding market in APAC in 2021.

Geographically, the global fiber cement siding market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). North America dominated the market, followed by APAC, Europe, and RoW. APAC is the fastest-growing region in the fiber cement siding market due to the prominent presence of fiber cement siding market players in China, Australia, and Japan. These companies include CSR Limited; Nichiha Co. Ltd.; Toray Industries Inc.; Everest Technopolis; SHERA Public Company Limited; 2K Technologies; Yunion Industry Limited; KMEW Co., Ltd.; SHIN KWANG CO., LTD.; HVG Facades Pty Ltd; and BGC Fibre Cement. Also, the residential and commercial sectors in APAC are expected to grow at an impressive rate in the next decade. In Europe, the western region is characterized by decorative houses?leading to high demand for fiber cement siding, thereby driving the fiber cement siding market?while Eastern Europe still poses a limited demand for the same. Russia has the presence of a few fiber cement siding market players.

Cembrit Holding A/S; CSR Limited; Allura, Etex Group; GAF Materials LLC; James Hardie Industries plc; SHERA Public Company Limited; NICHIHA Co., Ltd; and Toray Industries, Inc. are among the key players operating in the global fiber cement siding market.

The overall global fiber cement siding market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the fiber cement siding market. The process also serves the purpose of obtaining an overview and forecast of the fiber cement siding market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers?along with external consultants such as valuation experts, research analysts, and key opinion leaders?specializing in the fiber cement siding market.