Press Release

Efforts for Decarbonization to Lead the Demand for Fiber Cement in Thailand

The Thailand Fiber Cement market is projected to grow at a CAGR of around 4.34% during the forecast period of 2023-28, cites MarkNtel Advisors in the recent research report. The surging rate of construction activities in the country would become a prominent reason for the growth of the market. Thailand is witnessing a rapid rate of urbanization, which is impacting real estate development positively, further raising the number of residential, commercial, and other types of infrastructure in the country. Also, the government is continuously refurbishing the existing infrastructure, which also involves the usage of this cement.

Additionally, the growing number of efforts towards decarbonization of the government in the aftermath of climate change is promoting the use of this cement which involves reused components. This is due to the rising construction of green buildings across the country, which are less carbon-intensive & more energy efficient than buildings made with traditional cement. However, the problem of labor shortage faced by the country owing to the rising number of senior citizens is hampering the development of Thailand to its full potential. This is also negatively affecting the construction industry, consequently impacting the market of fiber cement.

Further, the requirement for skilled labor in the production of this cement & the lack of a skilled workforce is estimated to restrain the market in Thailand in the upcoming years. Moreover, the growing awareness about the importance of utilizing eco-friendly solutions is surging the adoption of this cement, further states the research report, “Thailand Fiber Cement Market Analysis, 2023.”

Residential Units to Account for the Potential Market Share

Based on end-users, the market is divided into Residential & Non-residential. Among these, the Residential segment is estimated to acquire a substantial share of the demand for fiber cement in the country in the forthcoming period. This is due to the growing per capita income of the country's population, which is raising the demand for residential units in different regions of Thailand. In addition, the prevalence of high humidity & temperature in the country, combined with the thermal insulation & acoustic properties of this cement, is making the product attractive to different real-estate developers.

Along with this, the low cost & the ease of installment associated with the products made with this cement are raising the use of these products by homeowners, further accelerating the sales of fiber cement in the following years.

Thailand Market to Foresee High Deployment of Hatschek Process

Based on the production process, the market is segmented into Hatschek Process, Extrusion Process, and Perlite Process. Of these, the Hatschek process of manufacturing fiber cement would register growth at a considerable rate. This attributes to the wide application of this process in the manufacturing of a large number of products, such as roofing tiles, wall cladding, etc., combined with the availability of customization with this process. Further, the presence of a variety of construction & building designs method across Thailand would raise the demand for this cement in the country owing to its flexible nature. Moreover, this process is competent for small-scale production combined with its cost-efficiency & high-quality products would scale up its demand in the country during the forecast period, 2023-28.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including SHERA, Toray Industries Inc., Siam Cement Group, TPI Polene Plc., Mahaphant Fibre-Cement (South Asia) Private Limited, Sahyadri Industries Limited, etc., and Saint Gobain, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across the country?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?