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Market Overview
Fiber cement is also known as reinforced fiber cement. It is a composite building and construction material offering superior physical properties like a high level of toughness & durability. Majorly, its application is in façade and roofing products.
According to the MarkNtel Advisors' research report, "Global Fiber Cement Market Analysis, 2021," the market is likely to grow at a CAGR of around 5.6% during 2021-26 due to the increasing usage of fiber cement for manufacturing façade and roofing products owing to its high strength & durability. The fiber cement is fire and impact resistant; hence, it suffices for constructing residential & commercial buildings. The other benefits offered by the fiber cement are superior thermal insulation and improved external appearance. However, the high base price of fiber cement could hinder the growth of the market.
| Report Coverage | Details |
| Study Period | Historical Data: 2016-20 |
| Base Year: 2021 | |
| Forecast Period: 2021-26 | |
| Regions Covered | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East & Africa | |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
Due to the outbreak of the COVID-19 pandemic, the overall construction industry was adversely affected due to lockdown imposition and suspension of construction activities across several impacted economies. Also, the decline in capacity utilization has made it difficult for the fiber cement manufacturers to sustain the original prices. Further, the fiber-cement industry has witnessed lower demand, thereby leading to overcapacity. However, with the resumption in operations of the fiber-cement industry and construction activities, the market can steadily boom in the forecast period.
Market Segmentation
Siding Segment Accounted for the Largest Market Share
Based on the Application, the siding segment has acquired the largest share in the global fiber cement market in 2019. Siding is one of the prime applications of fiber cement in both residential and non-residential constructions. Fiber cement is applied on the exterior sides of the walls to protect the building from fire or other extreme weather conditions. It is also for enhancing the aesthetic appeal of the building. Thus, the segment contributes to the overall growth of the fiber cement market, reveals MarkNtel Advisors in their research report, "Global Fiber Cement Market Analysis, 2021."
Portland Cement Segment Dominated the Market
Within the Material, the market classifies into Cellulosic, Portland cement, and Sand. Portland cement dominated the global fiber cement market in the previous few years due to its reasonable price and easy availability. Thus, it is one of the most widely used materials for construction activities. Portland cement is composed of calcium, silica, alumina, and iron that makes it highly strong & durable for making concrete.
Regional Landscape
Asia-Pacific holds the Highest Market Share
Region-wise, the Asia-Pacific region accounted for the largest share in the global fiber cement market in the previous year due to the growing construction industry and improving global economy, particularly in emerging countries like China and India. Further, stringent regulations regarding the use of asbestos in construction activities have forced the builders and other authorities to look for alternatives like fiber cement, thereby increasing the demand for fiber cement.
Market Driver
Rise in Government Restrictions on Use of Asbestos
Asbestos is a naturally occurring silicate mineral and can cause lung cancer from its exposure by inhaling the fiber from working environments, like factories handling asbestos or buildings containing asbestos. Thus, to avoid using asbestos, the government has enforced builders to shift towards using fiber cement.
Competitive Landscape
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), Elementia.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions:
Q. What are historical, base, and forecast years considered in the research report on the Global Fiber Cement Market?
The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
The measuring units of market size/industry size or the market value are USD Million and units million.
Q. What would be the growth rate or CAGR of the Global Fiber Cement Market during 2021-26?
The Global Fiber Cement Market is forecast to grow at a CAGR of 5.6% during 2021-26.
Q. Who are the key competitors or players operating in the Global Fiber Cement Market?
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 are few of the leading players in the Global Fiber Cement Market.
Q. Which Material segment would emerge as an opportunity area for players in the Global Fiber Cement Market?
Portland cement is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in the Global Fiber Cement Market?
Asia-Pacific continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global Fiber Cement Market.
