The Global Fiber Cement Market is expected to grow at a CAGR of around 5.6% in the forecast period of 2021-26. Fiber cement, also known as reinforced fiber cement, is a composite material widely used for different construction activities. It comprises sand, Portland cement, cellulosic material, and other additives. Fiber cement provides resistance to bacteria, mold, and fungi. Along with this, it is inert and can be directly dumped in landfills without harming the environment.
Fiber cement is an energy-efficient and eco-friendly material. It consumes less power while installation and transportation. It is available in different forms, with the most common form being sheets and horizontal boards. During the manufacturing of fiber cement, the water used is recycled several times.
The demand for fiber cement is increasing astronomically for the construction of residential as well as commercial buildings owing to its impact-resistant properties, and high durability & strength. It is widely used for exterior wall cladding, partition walls, ceilings, and decorative applications. Therefore, the booming construction sector is projected to drive the demand for fiber cement. However, lack of skilled labor in developing countries might hamper the market growth, further states the research report, “Global Fiber Cement Market Analysis, 2021.”
Siding Application Captures the Largest Share of the Global Fiber Cement Market
Of them all, Siding is the prime application of fiber cement. It has the appearance of wood but poses concrete toughness since it comprises a combination of water, sand, wood pulp, and Portland cement. The high durability & flexibility of fiber cement makes it suitable for siding purposes. Fiber cement siding provides resistance from insects & natural disasters. Also, unlike wood, there is no need for repeatedly painting the sidings.
Furthermore, the demand for fiber cement in molding & trimming applications is expected to grow at the fastest pace during 2021-26. It is due to the properties of fiber cement like low maintenance, ability to withstand extreme weather conditions, & fire resistance that make it a perfect material for molding and trimming.
With Rapid Infrastructural Developments, Asia-Pacific Dominates the Fiber Cement Market
Geographically, of all regions, Asia-Pacific holds the largest share of the Fiber Cement Market, mainly due to the burgeoning infrastructural developments across countries like India & China. For instance:
On the other hand, Europe is the fastest-growing region in the Global Fiber Cement market. The surging preference for the development of green buildings and the rapid expansion of the residential sector are the major factors propelling the growth of the Fiber Cement Market in Europe, reveals MarkNtel Advisors in their research report, “Global Fiber Cement Market Analysis, 2021.”
According to MarkNtel Advisors, the 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), & Elementia.
Key questions answered in the study