Global fiber cement Market is expected to grow from US$11.002 billion in 2017 to US$14.230 billion in 2022, growing at a CAGR of 5.28% over the forecast period
Fiber cement is mainly used for the purpose of cladding and roofing. The presence of fiber reinforcement in cement contributes in making strong and long-lasting building and construction material. Fiber cement market is expected to grow at a high rate due to its features such as high durability, strength, and aesthetic properties.
Growing construction and other infrastructural activities is one of the key factors for the growth of the fiber cement market. Stringent government regulations against the use of asbestos are also providing new opportunities for the growth of global fiber cement market. Rebounding of the infrastructure sector along with rapid industrialization are further fuelling the demand for fiber cement products. Moreover, emerging design trend in commercial, as well as residential buildings, will augment the demand for fiber cement siding and exterior trim, thereby positively impacting the growth of global fiber cement industry.
By application, roofing is projected to witness the fastest growing segment owing to growing world population and thus, escalating residential construction activities worldwide. By end-user, residential sector will surge the demand for fiber cement products due to consumers' growing interested in home renovation projects.
The demand for fiber cement is significantly rising in North America owing to accelerating building construction industry for which fiber cement products are required as they can withstand harsh climatic conditions. Asia Pacific region, however, is anticipated to grow at the fastest growth rate during the forecast period due to rising economic growth and greater development of infrastructure sector. Factors such as complex installation process and emerging alternatives of fiber cement such as vinyl or aluminum which is cheaper than fiber cement products will restrain the growth of global fiber cement market in the next five years.
James Hardie Industries
Compagnie De Saint Gobain
The Siam Cement Public Company Limited
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Fiber Cement Market Forecast by Material (US$ billion)
6. Fiber Cement Market Forecast by Application (US$ billion)
7. Fiber Cement Market Forecast by End-User (US$ billion)
8. Fiber Cement Market Forecast by Geography (US$ billion)