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Fiber Cement Market Size - By Application (Siding, Roofing), By Sector (Residential, Non-Residential), End-User (New Construction, Improvements & Repair), Growth Drivers, Regional Insights & Forecast, 2023-2032

  • Report ID: GMI4975
  • Published Date: Aug 2023
  • Report Format: PDF

Fiber Cement Market Size

Fiber Cement Market size is predicted to observe about 4.7% CAGR between 2023 and 2032. Driven by the increasing demand for sustainable construction materials. Fiber cement offers significant environmental benefits, as it is manufactured from recycled materials and has a low carbon footprint. The product is used in a wide range of applications, including siding, roofing, flooring, and backer boards. The inherent advantages of fiber cement, such as resistance to rot, insects, fire, and moisture, have positioned it as a preferred choice for both residential and commercial construction projects. The increasing usage of the product for circular design will shape the industry outlook.
 

Fiber Cement Market

Fiber Cement Market Drivers & Restraints

The rising construction activities across residential, commercial, and industrial sectors, in consort with the focus on durability, versatility, and aesthetic appeal is fueling the adoption of fiber cement as a preferred construction material. Despite the positive market outlook, the high initial cost associated with fiber cement products compared to traditional alternatives such as vinyl or wood is acting as a restraint. In addition, fiber cement installation requires specialized skills and equipment, increasing the overall installation costs.
 

Fiber Cement Market Trends

The emphasis on advanced manufacturing technologies and innovative product offerings is a significant industry trend. Manufacturers are investing in R&D to improve the performance characteristics of fiber cement, including enhancing durability, reducing weight, and developing new surface finishes and textures. Moreover, there is growing demand for pre-painted fiber cement products that provides customers with a wide range of color options and reduces the need for on-site painting. The integration of fiber cement with other materials, such as composites and polymers, is gaining traction, offering enhanced performance and design flexibility.
 

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the fiber cement market. While the construction industry experienced disruptions due to lockdown measures and supply chain challenges, there was a resilient demand owing to the essential nature of construction activities in many regions. However, the uncertainty surrounding the pandemic, economic slowdown, and labor shortages affected new construction projects, leading to a temporary decline in demand for fiber cement products. Nonetheless, as the construction sector recovers and governments invest in infrastructure development to stimulate economic growth.
 

Fiber Cement Market Analysis

The siding segment will hold approximately 70% share of the fiber cement market by 2032. The product has emerged as a popular choice among homeowners and builders due to its durability, resistance to weather conditions, and low maintenance requirements. The ability of fiber cement siding to mimic the appearance of natural materials like wood or stone while offering superior performance and longevity has contributed to its growing adoption. With the consumers increasingly prioritizing siding materials that offer a balance between aesthetics and functionality, the market will continue to grow.
 

Fiber cement market from the new construction segment is anticipated to witness over 5% CAGR from 2023 to 2032. With rapid urbanization and infrastructure development in emerging economies, the demand for new residential and commercial buildings is on the rise. Fiber cement finds extensive application in new construction projects, offering builders and architects a versatile and sustainable material choice. The segment's growth is led by factors such as population growth, urbanization, and the need for cost-effective, durable, and energy-efficient construction materials.
 

Asia Pacific fiber cement market will acquire around 45% revenue share by 2032, due to the region’s booming construction sector, propelled by rapid urbanization and infrastructure investments. Countries such as China, India, and Southeast Asian nations are observing significant demand for fiber cement products due to the increasing construction activities, government initiatives promoting sustainable building practices, and the rising awareness of environmental issues. Additionally, the vulnerability to natural disasters such as typhoons and earthquakes across the region favors the product usage for its superior resistance and durability.
 

Fiber Cement Market Share

Some of the prominent players in the global fiber cement market are

  • CSR Limited
  • Nichiha USA
  • Everest Industries Ltd.
  • Allura USA
  • Swisspearl
  • CertainTeed
  • James Hardie Building Products
  • Wehrhan GmbH
  • Etex Group
  • Cembrit
     

Fiber Cement Industry News

  • In June 2022, Swisspearl Group announced the acquisition of Denmark’s Cembrit, making the company the second-largest fiber cement producer in Europe. The acquisition opens avenues for enhancements such as improved utilization of production capacities and a steadfast commitment to sustainability.
     
  • In June 2023, American Fiber Cement Corporation (AFCC), a major distributor of high-density fiber cement, announced rebranding as American Fiber Cement (AFC). The rebrand includes a new logo, product names, and website. AFC will continue offering its full range of fiber cement products, previously linked with Cembrit, rebranded under AFC.
     

This market research report on fiber cement includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Square Feet and revenue in USD million from 2022 to 2027 for the following segments:

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Market, By Application

  • Siding
  • Roofing
  • Others (floors, facades, etc.)

Market, By Sector

  • Residential
  • Non-residential
  • Commercial
  • Institutional
  • Industrial

Market, By End-User

  • New Construction
  • Improvements & Repair

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada 
  •  Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Thailand
    • Australia
    • Indonesia
    • Malaysia
  •  LATAM
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
    • Turkey

 

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

The market size for fiber cement is poised to observe more than 4.7% CAGR from 2023 to 2032, driven by the increasing demand for sustainable construction materials.

Fiber cement market size from the new construction segment is anticipated to witness over 5% CAGR from 2023 to 2032, backed by the rapid urbanization and infrastructure development in emerging economies.

Asia Pacific fiber cement industry will acquire more than 45% of the revenue share by 2032, due to the region’s booming construction sector, driven by rapid urbanization and infrastructure investments.

CSR Limited, Nichiha USA, Everest Industries Ltd., Allura USA, Swisspearl, CertainTeed, James Hardie Building Products, Wehrhan GmbH, Etex Group, and Cembrit.

Fiber Cement Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 251
  • Countries covered: 21
  • Pages: 160
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