According to MarkNtel Advisors' research report, "Global Fiber Cement Market Analysis 2021," the market is likely to grow at 5.6% CAGR during 2021-26 due to rapid global urbanization. The booming construction industry and the high efficiency of fiber cement products are prime factors propelling the market growth. Additionally, fiber cement has excellent applicability in extreme weather conditions, thereby aiding its use in construction activities. However, the complex installation process for the fiber cement-based product increases the need for professionals. Therefore, a lack of skilled laborers could hinder the growth of the market.
Key questions answered in the study
Residential Segment Dominates the Market
Based on the End-Users, the market bifurcates into residential and non-residential segments. Among these segments, Residential acquired the highest share in the global fiber cement market in the previous few years due to the characteristics of fiber cement like wear & tear resistance and high strength & durability, which makes it a perfect fit for sustaining the house. Further, the growing middle-class population and the rising disposable income have also bolstered the middle-class housing segment, thereby fueling the growth of the fiber cement market.
"Global Fiber Cement Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Fiber Cement providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Europe Exhibits Fastest Growth
Europe Region is likely to register the fastest growth in the Global Fiber Cement market during 2021-26 due to the growing demand for energy-efficient buildings and increasing construction activities in the region. Excellent weather resistance and thermal insulation further propel the requirement of fiber cement for the construction of the residential building. Additionally, there's a surge in the government's investments in developing the construction industry and expanding construction activities in France due to the upcoming 2024 Olympics. Therefore, the region is likely to contribute to the growth of the global Fiber Cement market in the forecast period, reveals MarkNtel Advisors in their research report, "Global Fiber Cement Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the global Fiber Cement market are James Hardie Industries PLC (Ireland), Allura (US), Cembrit Holding A/S (Denmark), Etex Group NV (Belgium), American Fiber Cement Corporation (US), Toray Industries Inc. (Japan), Nichiha (Japan), Cembrit Holding A/S (Denmark), CSR Limited (Australia), Elementi.