Fiber Cement Market Size & Share, by Application (Residential, Commercial), End-user (Construction, Infrastructure, Agriculture) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 5095
  • Published Date: Jul 21, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 – 2035

Fiber Cement Market size is anticipated to cross USD 35 billion by the end of 2035, witnessing around 7% CAGR during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of fiber cement was over USD 20 billion. Fiber cement products have gained popularity due to their durability, resistance to fire, insects, and rot, as well as their low maintenance requirements. They offer an alternative to traditional building materials such as wood, vinyl, and aluminum, providing a balance between cost-effectiveness and performance.

The market for fiber cement has experienced steady growth over the years, driven by various factors such as the versatility of fiber cement products, which can mimic the appearance of wood, stone, or other materials, and has also contributed to their market appeal. Fiber cement is a composite material made from a combination of cement, sand, cellulose fibers, and other additives.


Fiber Cement Market
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Fiber Cement Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Demand for Sustainable Building Materials: With growing environmental awareness and regulations promoting sustainable prefabricated construction practices, there has been an increased demand for eco-friendly building materials. Fiber cement, being a recyclable and energy-efficient material, has gained popularity. According to a study, the global demand for green construction materials is projected to reach USD 420 billion by the year 2026.
  • Urbanization and Infrastructure Development: The rapid pace of urbanization, has led to increased infrastructure development and construction activities. Urbanization has fueled the demand for residential, commercial, and industrial buildings, creating a significant market for fiber cement products.
  • Superior Properties and Durability: Fiber cement offers several advantages, including high durability, and resistance to fire, moisture, insects, and rot. These properties make it an attractive choice for construction projects.
  • Surging Disposable Income- The surge in disposable income in developing countries has boosted the sale of real estate. Thus, it is increasing the demand for fiber cement for developing properties in the real estate, that are further purchased or sold. For instance, the disposable personal income of people in India has increased to more than USD 3000 B in the year 2022.

Challenges

  • Intense Competition: The fiber cement market is highly dynamic, with various suppliers, and manufacturers operating globally. This high competition puts force on profit, and pricing margins. Manufacturers need to invest in innovation, quality control, and efficient production processes to stay competitive in the market.
  • Volatility in Raw Material Prices
  • Regulatory Compliance

Fiber Cement Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2022)

~ USD 20 Billion

Forecast Year Market Size (2035)

~ USD 35 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Fiber Cement Segmentation

Application (Residential, Commercial)

The residential segment is estimated to account for 57% share of the global fiber cement market in the year 2035. Homeowners seek low-maintenance solutions, and fiber cement offers resistance to rot, insects, and fire, reducing the need for regular upkeep. This demand for low-maintenance materials has driven the adoption of fiber cement in the residential segment. Fiber cement products offer a wide range of design options and can mimic the appearance of wood, stone, or other materials. This aesthetic versatility has attracted homeowners and architects looking for attractive and customizable exterior finishes. The design flexibility of fiber cement has been a significant growth driver.

End User (Construction, Infrastructure, Agriculture)

Fiber cement market from the construction segment is expected to garner a significant share in the year 2035. The renovation and retrofitting of existing buildings have contributed to the growth of the construction segment. As buildings age or require updates, fiber cement products are often chosen for their durability, low maintenance, and aesthetic appeal. According to a report, the U.S. spending on home improvements and remodeling reached USD 352 billion in 2020. The focus on energy-efficient construction and adherence to building codes and regulations have driven the adoption of fiber cement products. Fiber cement materials offer insulation properties, contributing to the energy efficiency of buildings.

Our in-depth analysis of the global fiber cement market includes the following segments:

           Application

  • Residential
  • Commercial

            End User

  • Construction
  • Infrastructure
  • Agriculture

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Fiber Cement Industry – Regional Synopsis

APAC Market Forecast

The fiber cement market in the Asia Pacific region is projected to hold the largest revenue share of 34% by the end of 2035. The Asia Pacific region has witnessed significant infrastructure development in countries like China, India, and Southeast Asian nations. Furthermore, the construction industry in the Asia Pacific region has been expanding due to increasing investment in residential, commercial, and infrastructure projects.

North American Market Statistics

The fiber cement market in the North America region is projected to hold share of 29 % during the forecast period. The North American region has a significant market for renovation and remodeling projects such as smart cities project.  According to the analysis, there are more than 50 cities in the United States that are adopting smart cities initiatives, and technology, with the highest number of smart cities. Fiber cement products are often chosen for their durability, low maintenance, and aesthetic appeal in these projects. There is an increasing emphasis on sustainable and energy-efficient construction practices in North America. The adoption of eco-friendly materials is driven by government initiatives, building codes, and consumer preferences.

Research Nester
Fiber Cement Market Size
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Companies Dominating the Fiber Cement Landscape

top-features-companies

    Key Players

    • James Hardie Industries PLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Etex Group
    • Cembrit Holding A/S
    • Nichiha Corporation
    • CSR Limited
    • Evonik Industries AG
    • GAF Materials Corporation
    • Elementia S.A.B. de C.V.
    • Allura USA
    • Swisspearl

In-the-news

In The News

  • James Hardie Industries PLC announced its plans to expand its manufacturing facility in Prattville, Alabama, USA. The expansion aimed to meet the growing demand for fiber cement siding in the North American market. The investment reflected the company's commitment to expanding its production capabilities and strengthening its position in the industry.
  • Etex Group announced the acquisition of FSi Limited, a leading manufacturer of passive fire protection products based in the UK. This strategic acquisition was part of Etex Group's growth strategy to expand its product portfolio and enhance its offerings in the fire protection segment. The move demonstrated the company's focus on expanding its presence and expertise in key markets.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 5095
  • Published Date: Jul 21, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing construction sector advancements is the major factor driving the market growth.

The market size of fiber cement is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023 – 2035.

The major players in the market are James Hardie Industries PLC, Etex Group, Cembrit Holding A/S, Nichiha Corporation, Allura USA, Swisspearl, and others.

The residential segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Fiber Cement Market Report Scope
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