The fiber cement board market is dynamic in construction, witnessing widespread adoption globally. Comprising cement, cellulose fibers, and additives, these boards provide durability, fire resistance, and versatility. They meet diverse architectural requirements when used in siding, roofing, flooring, and various construction elements. As a key building material, fiber cement boards contribute to the evolving landscape of the construction industry, offering a reliable and adaptable solution for modern construction needs across the globe.
Data Bridge Market Research analyses that the Global Fiber Cement Board Market, which was USD 10.27 billion in 2022, is expected to reach USD 15.29 billion by 2030 and is expected to undergo a CAGR of 5.1% from 2023 to 2030.
"Increased usage as an asbestos’s alternative drives the market growth"
The increased usage of fiber cement as an asbestos alternative stems from global concerns about asbestos-related health and safety risks. With partial bans on asbestos in 55 countries, manufacturers have shifted to fiber cement due to their similar properties. Fiber cement's popularity is amplified by its environmental advantages, surpassing asbestos in eco-friendliness. Unsuch as traditional cement, fiber cement utilizes recycled materials, reducing resource consumption and environmental impact. This shift aligns with growing awareness and regulatory restrictions, positioning fiber cement as a safer and more sustainable choice in construction.
What restraints the growth of the global fiber cement board market?
" High cost hamper the market growth"
The high cost of fiber cement boards poses a significant obstacle to market growth, making them a pricier option for construction than alternatives such as vinyl boards. Elevated installation expenses further compound this challenge. The market is hindered as these cost factors deter potential adopters. Additionally, the growing volatility in raw material prices adds uncertainty, amplifying the economic barriers. These factors impede the widespread adoption of fiber cement boards in the construction industry.
Segmentation: Global Fiber Cement Board Market
The global fiber cement board market is segmented on the basis of raw material, application, end-user, production process, and product.
- On the basis of raw material, the global fiber cement board market is segmented into portland cement, silica, cellulosic fiber, and other raw material
- On the basis of application, the global fiber cement board market is segmented into siding, roofing, molding and trim, trim wall, flooring, curtain walls, and others
- On the basis of end-user, the global fiber cement board market is segmented into commercial, and residential
- On the basis of production process, the global fiber cement board market is segmented into hatschek process, extrusion process, and pertile process
- On the basis of product, the global fiber cement board market is segmented into high-density board, medium density board, and low-density board
Regional Insights: North America dominates the Global Fiber Cement Board Market
North America dominates the global fiber cement board market, driven by the region's accelerating construction expenditure. The robust investment in construction projects enhances the demand for fiber cement boards, a versatile building material. As North America prioritizes infrastructure development, the market experiences sustained growth. The region's construction sector reliance positions it as a key player in the global fiber cement board market, contributing significantly to its dominance.
Asia-Pacific is expected to dominate the global fiber cement board market, boasting the highest growth rate. Fueled by robust economic growth and extensive infrastructure development, the region experiences rapid urbanization, industrialization, and migration. Growing economies contribute to heightened demand for fiber cement boards as a key construction material, reflecting the dynamic landscape of the building industry in Asia-Pacific. These factors position the region as a major global fiber cement board market driver.
Recent Developments: Global Fiber Cement Board Market
- In August 2022, Visaka Industries announced a Rs 120 crore (USD 15.10 Million) investment in a new fiber cement boards plant in West Bengal. This strategic move aims to enhance production capacity, addressing the rising demand for environmentally friendly construction materials and positioning Visaka Industries as a key player in the sustainable building solutions market
To know more about the study, visit https://www.databridgemarketresearch.com/reports/global-fiber-cement-board-market
The Prominent Key Players Operating in the Global Fiber Cement Board Market Include:
- James Hardie Europe GmbH (Australia)
- Etex Group (Belgium)
- Cembrit Holding A/S (Denmark)
- SHERA (Thailand)
- Soben International (Asia Pacific)
- SCG (Thailand)
- Biele Group (Spain)
- LATONIT (Russia)
- NICHIHA (Japan)
- Everest Industries Ltd (India)
- Toray Industries Inc. (Japan)
- Allura (U.S.)
- CSR Limited (Australia)
- Etex Group (Belgium)
- Toray Industries Inc. (Japan)
- American Fiber Cement Corporation (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global fiber cement board market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Fiber Cement Board Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
