Dublin, Feb. 28, 2024 (GLOBE NEWSWIRE) -- The "Global Fiber Cement Market: Analysis By Raw Material, By Curing Process, By Application, By Sector Usage By Region Size and Trends with Impact of COVID-19 and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.
The global fiber cement market, valued at US$16.70 billion in 2022, is poised for substantial growth, with projections reaching US$23.53 billion by the year 2028. This robust expansion, which translates into a compound annual growth rate (CAGR) of 5.88% from 2023 to 2028, is indicative of the material's escalating prominence in both residential and non-residential construction sectors worldwide.
Fiber cement has emerged as a frontrunner in the construction materials market, highly regarded for its resilience and multifaceted design potential. A strategic blend of cement and cellulose fibers, it stakes its claim in the market on its fire, termite, and rot resistance coupled with minimal upkeep needs. Its design adaptability extends from wood-like textures to polished finishes, ensuring a broad range of applications.
Market Segmentation Analysis:
- By Raw Material: The Portland cement segment has displayed market dominance due to the material's endurance and stylistic adaptability, making it highly sought-after for exterior applications.
- By Curing Process: The steam pressure cured segment leads with formidable growth, attributed to its superior strength and density. Conversely, the ambient cured segment is anticipated to witness the most rapid growth during the forecast period.
- By Application: Exterior cladding remains a major driving force, as fiber cement continues to be the go-to choice for builders seeking durable, visually versatile cladding solutions.
- By Sector Usage: The residential sector's use of fiber cement outpaces the non-residential sector, with growing trends towards sustainable home construction further enhancing its adoption.
- By Region: The Asia Pacific region remains at the helm of the fiber cement market, with North America predicted to showcase significant growth led by the United States over the coming years.
The report sheds light on the different facets that mold the market, discussing the inherent properties that make fiber cement a preferred building material. It also reviews the raw materials employed, various curing processes, and delineates the applications and sector usage that propel market dynamics.
Growth Drivers and Trends: The market is buoyed by a slew of factors contributing to its ascendancy. The demand for energy-efficient buildings and sustainability in construction practices serves as a pivotal growth lever. Rising urbanization, lifestyle modifications, stringent building codes, and a predilection for fiber cement over conventional materials are also catalytic for expansion.
Market Challenges: Conversely, the market faces headwinds, primarily due to the high installation costs associated with fiber cement products. Additionally, the market grapples with stiff competition from alternative materials.
Market Dynamics: A shift toward environmentally friendly materials underpins a major trend in the market, amplifying consumer interest in sustainable building practices. The market is also keeping pace with technological advancements, such as the incorporation of smart building technologies and 3D printing.
Impact of COVID-19: Despite COVID-19 inflicting considerable disruptions, the fiber cement market has shown resilience, with recovery on the horizon. The pandemic has underscored the need for operational agility and robustness in the face of global adversities.
Company Profiles and Competitive Outlook
The competitive landscape of the fiber cement market is characterized by the presence of key industry players that contribute to its vibrancy. These companies range from established brands to emerging players, all focused on innovation and sustainability to address the construction industry's evolving demands.
The following players hold a significant presence in the market: James Hardie Industries PLC, Compagnie de Saint-Gobain SA, Siam Cement Public Company Limited (SCG Building Materials), Etex Group NV, and several others who are shaping the industry's future.
The latest analytical review offers an expansive outlook on the fiber cement market's trajectory, discussing the strategic market drivers, growth opportunities, challenges, and trends. With the backdrop of a recovering global economy and a construction industry set to embrace sustainable practices, the fiber cement market demonstrates both opportunities and resilience in the face of uncertainties. This report is an essential tool for understanding the complexities and potential of this evolving market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 176 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $16.7 Billion |
| Forecasted Market Value (USD) by 2028 | $23.53 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
Key Topics Covered:
- Executive Summary
- Introduction
- Global Market Analysis
- Regional Market Analysis
- Impact of COVID
- Market Dynamics
-
- Growth Drivers
- Rise in Construction Activities
- Urbanization and Lifestyle Changes
- Increasing Demand for Energy-Efficient Buildings
- Increasing Stringency of Building Regulations
- Advancements in Fiber Cement Technology
- Growing Preference for Fiber Cement
- Shift Toward Low-Maintenance Building Materials
- Expansion of Distribution Channels
- Growing Popularity of Prefabricated and Modular Construction
- Challenges
- High Cost Associated with Installation
- Competition from Alternative Materials
- Market Trends
- Integration of Smart Building Technologies
- Development in 3D Printing in Construction
- Increasing Focus on Disaster-Resilient Infrastructure
- Enhanced Focus on Indoor Air Quality
- Growing Utilization of Eco-Friendly Construction Materials
- Shift towards Circular Economy in Construction
- Government Initiatives in Affordable Housing
- Adoption of Fiber Cement in Niche Applications
- Advancements in Surface Treatments and Finishes
- Growth Drivers
Companies Mentioned
- American Fiber Cement Corporation
- Century Plyboards (India) Limited
- Compagnie de Saint-Gobain S.A.
- CSR Limited
- Elementia, S.A.B. de C.V.
- Etex Group NV
- James Hardie Industries PLC
- Knauf Group (Knauf Gypsum)
- Nichiha Corporation
- Siam Cement Public Company Limited (SCG Building Materials)
- Standard Industries (GAF Materials Corporation)
- Swisspearl Group AG
For more information about this report visit https://www.researchandmarkets.com/r/bdpmk5
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
