Fiber Cement Market Size By Application (Siding, Roofing), By Sector (Residential, Non-Residential [Commercial, Institutional, Industrial]), By End-User (New Construction, Improvements & Repair), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: May 2021  |  Report ID: GMI4975  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 160   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Fiber Cement Market size exceeded USD 9.75 billion in 2020 and is projected to grow at a CAGR of over 4.5% from 2021 to 2027. The growing need for curbing the overall carbon emission from the building & construction sector is expected to drive the product usage.
 

Fiber Cement Market

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The global construction output is estimated to witness more than 30% growth rate till 2030, which can be mainly contributed to rising construction activities in the U.S., China, and European countries. The U.S. recorded a significant increase in average annual growth rate of new building permit, housing starts, and housing completion units in April 2021. Further, the country has reported moderate increase in private and public spending on construction activities in the same year.
 

Fiber cement boards are becoming a popular choice of homeowners owing to their superior characteristics of excellent inflammability, high durability, and better aesthetics. This product offers protection against moisture, thermal, and acoustic insulation, enhancing its usage in the industry. However, the installation cost of the product exceeds significantly as compared to vinyl or wood siding, which may reduce its popularity in the developing countries.
 

COVID-19 pandemic to marginally affect to the global sales volume of fiber cement

Ongoing coronavirus pandemic has substantially dropped construction activities around the globe impacting the overall fiber cement market volume in 2020. The building material sector has seen a huge drop in terms of trade led by government restrictions over international movement of commodities across major parts of the world. This has significantly reduced the consumption level of this product in North America and Europe. Since China holds the largest share in world’s portland cement production, the fiber cement demand has been affected in the countries relying on imports of building materials. Moreover, the market is likely to recover post 2021 due to increase in construction activities and reestablishment of trade movement between countries.
 

Siding to dominate the global market share

The siding application segment is poised to hold above 70% of the fiber cement market share by 2027 on account of the increasing replacement of asbestos cladding in the U.S. over past few years. The U.S. government has implemented ban on the usage of asbestos between 1970 and 1980, driving the market demand. fiber cement is cost-effective and possesses better thickness as compared to vinyl siding, fueling market revenue.
 

The new construction segment will depict higher growth rate

New construction is anticipated to register around 5% CAGR through 2027. The key advantage of using fiber cement in new construction is attributed to their lesser susceptibility to rotting and excellent protection against humidity levels & moisture. These products can be installed in the form of siding, facades, condo complexes, government buildings, etc., which will further boost the fiber cement industry development.
 

Increasing investments in residential buildings to augment product penetration

Fiber Cement Market

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In 2020, the residential segment generated over USD 7 billion revenue and will observe strong growth from 2021 to 2027. Rising number of construction projects across major parts of the world is slated to spur the segment demand. Beijing Municipal Commission of Development and Reforms have announced to construct approximately 300 new projects for enhancing building infrastructure in the region. Similarly, the U.S. reported nearly 5% increase in construction value put in place in 2020.
 

Institutional sector is forecast to see steady growth till 2027. Fiber cement products offer better aesthetics and is cost effective solution for exterior and interior cladding applications. Increasing product adoption in public infrastructure such as, hospitals, schools, educational institutions, etc. will influence segment penetration.
 

Focus on enhancement of local infrastructure will foster sales in the APAC region

Fiber Cement Market

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Asia Pacific fiber cement market is set to account for over 45% share by 2027 propelled by rising construction of buildings in major parts of the region. Growing population along with increasing disposable income of people in the emerging countries has been fueling the sales of real estate in the past few years. Major countries, including Thailand, the Philippines, Indonesia, Vietnam, Australia, etc., are experiencing tremendous growth in terms of construction output in the region.
 

In 2018, the Philippines recorded more than 170,000 construction establishments, 13.9% higher than the previous year impelled by the growing need for enhancing the poorly built local infrastructure along with rising trends toward outsourcing engineering services construction projects from foreign markets. The growing demand for new construction in this country will accelerate product usage in the regional market by 2027.
 

Industry participants to adopt multiple strategies to strengthen their foothold

The product manufacturers amend their competitiveness by utilizing a variety of strategic initiatives including acquisitions, product launches, capacity expansion, etc. The key fiber cement market players include James Hardie Building Products, Nichiha USA, Cembrit, Allura USA, CertainTeed, Wehrhan GmbH, etc. The product manufacturers rely heavily on raw material suppliers of portland cement, cellulose fibers, silica, chemical additives, etc.
 

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 2017 to 2027 for the following segments:

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

 

Frequently Asked Questions (FAQ) :

The market for fiber cement surpassed a valuation of USD 9.75 billion in 2020 and will expand at more than 4.5% CAGR over 2021-2027 with rising trend to lower carbon emissions from the building and construction sector.
The siding application segment will account for around 70% industry by 2027 owing to profound replacement of asbestos cladding in the U.S.
The industry share from the residential segment accrued more than USD 7 billion during 2020 and will grow at a considerable rate owing to increasing construction projects in APAC.
APAC will hold more than 45% of total fiber cement market share and will grow at a notable pace by 2027 with thriving construction activities and burgeoning population in China, Thailand, Indonesia and India.
Some of the key producers of fiber cement are Allura USA, Wehrhan GmbH, Cembrit, CertainTeed and James Hardie Building Products, among others.

Premium Report Details

  • Published Date: May 2021
  • Pages: 160
  • Tables: 226
  • Charts / Figures: 25
  • Companies covered: 16
  • Countries covered: 21

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