Global Fiber Cement

Global Fiber Cement Market Research Report: Forecast (2021-2026)

By Material (Cellulosic material, Portland cement, Sand), By Application (Cladding, Roofing, Siding, Molding & Trimming, Backer Boards, Wall Partition, Others), By End-User (Residential, Non-Residenti Read more

  • Buildings, Construction, Metals & Mining
  • Jan 2022
  • 197
  • BM33008

Market Definition

In the modern era of construction, there is a high demand for ingredients that are both sustainable & environmentally friendly and can serve adequately for the production of construction materials. As a result, to fulfill this need, natural fibers are being used, along with engineering materials, in construction activities. Due to the versatile nature of natural fibers, a new material, fiber cement, has been explored, which can be combined with construction materials to produce low-cost building materials.

Fiber cement is a composite construction material used mainly in roofing & façade works due to its strength & durability. It is a mixture of cellulose fiber or asbestos, Portland cement, sand, water, and a small amount of other chemical additives used for providing products with particular characteristics. The advantages of fiber cement are its low cost, fire resistance, water tightness, lightweight, and termite resistance. These properties of fiber cement products are easy to work within low maintenance, making them the ideal choice for professional builders, designers, & architects.

Market insights

The Global Fiber Cement Market is anticipated to grow at a CAGR of around 5.6% during the forecast period, i.e., 2021-26. The growth of the market is driven primarily by the rapid industrialization & urbanization in developing countries. The booming construction industry and rising restrictions on the use of asbestos worldwide are other crucial factors driving the global market. Additionally, mounting usage of fiber cement for manufacturing faced & roofing products due to its high durability & strength is also augmenting the fiber cement market growth globally. 

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR (2021-2026) 5.6%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, UK, France, Italy
Asia-Pacific: China, India, Japan, South Korea
South America: Brazil, Argentina
Middle East & Africa: Saudi Arabia, South Africa, Rest of the Middle East & Africa
Key Companies Profiled 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
Unit Denominations USD Million/Billion

 

Moreover, the surging demand for environmentally friendly & sustainable construction materials is also fueling the usage of fiber cement in construction activities. Fiber cement is used widely in several applications, including roofing, cladding, and building facades across both residential & non-residential sectors. However, shortage of skilled labor and complex procedure of installing products made using fiber cement are some prominent factors that might hinder the growth of the Global Fiber Cement Market during 2021-26. However, the surging demand for high diversification in product offerings and adoption of advanced technologies will offer lucrative growth opportunities for the Fiber Cement Market in the forthcoming timeline.

Impact of Covid-19 on the Global Fiber Cement Market

The Covid-19 pandemic in 2020 has adversely impacted the economy & disrupted several businesses & industrial establishments worldwide. Construction is one such industry that has been adversely impacted due to the pandemic since most construction projects got jeopardized due to lockdown and mass exodus of migrant workers. Hence, due to the turmoil in the construction industry, the pandemic has negatively impacted the Fiber Cement Market.

The construction sector witnessed a simultaneous reduction in both demand & supply amidst the pandemic. Since the construction sector is driven primarily by infrastructural projects, it got adversely hit due to project delays. Significant income losses and diversion of government funds toward Covid-19 management have also negatively influenced the construction industry.

Moreover, the shutdown of manufacturing units, labor shortages, and supply chain issues are some prominent aspects that led to the declining growth of the fiber cement market. Also, the falling demand for construction projects due to the poor business sentiments, lower operating surpluses, & incomes severely impacted the market growth. Additionally, low economic activity in other sectors has also affected construction services through forwarding linkages. Hence, the negative impact on construction activities has directly influenced the Global Fiber Cement Market amidst the pandemic.

However, with the upliftment of lockdown, the construction industry has been significantly different, principally due to the rapid adoption of advanced technologies within the sector. Moreover, resumption in most construction projects would propel the fiber cement market growth in the forecast period.

Global Fiber Cement Market Research Report: Forecast (2021-2026)

Market Segmentation

By Application:

  • Cladding
  • Roofing
  • Siding
  • Molding & Trimming
  • Backer Boards
  • Wall Partition

Here, Siding is one of the major applications of fiber cement. With a rapid surge in the construction of residential & non-residential buildings, the demand for fiber cement in Siding applications is increasing substantially. The rising inclination of green buildings, coupled with the demand for style, durability, & affordability, is also contributing to the increasing adoption of fiber cement for construction purposes.

Fiber cement siding looks similar to that of wood. The most desirable property of fiber cement siding is that it is durable. Unlike wood, it does not require frequent repainting since it is insect resistant, fireproof, & performs well in natural disasters.

Further, molding & trimming is the fastest-growing application in the Fiber Cement Market due to the increasing installation of trim boards in housing projects, coupled with fiber cement’s superior performance attributes, including low maintenance requirements, the ability to withstand harsh weather conditions without rotting, and fireproof characteristics. Fiber cement moldings & trims are used primarily in exterior applications. Hence, these aspects are propelling the use of fiber cement for molding & trimming applications, thereby contributing to the overall market growth.

By End-User:

  • Residential
  • Non-Residential

Of both, the Non-Residential sector, which includes industrial, commercial, & agricultural applications, dominates the Global Fiber Cement Market. The increasing usage of fiber cement for constructing factories, mills, warehouses, & looms is fueling the market growth across the non-residential sector. Governments of countries like Canada, the US, & the UK have banned the usage of asbestos for construction activities, which, in turn, is fueling the demand for fiber cement. Asia-Pacific is likely to be the potential market for fiber cement owing to its flourishing construction industry.

On the other hand, the increasing demand for fiber cement in the residential sector is primarily due to the rapidly growing middle-class population entwined with rising disposable income, fueling the construction of residential buildings. For instance:

  • A project, ‘Housing for All by 2022,’ by the government of India is projected to boost low-cost residential constructions in the country in the forecast years, which would further contribute to the increasing demand for fiber cement. 

Recent Developments in the Global Fiber Cement Market

  • In February 2019, James Hardie, the global leader in fiber cement technology, decided to enhance its position as the leader in fiber cement by launching three new products, including Artisan Shingle, Hardie Soffit Vented Plus Panel, and Hardie Backer Cement Board with Hydro Defense Technology, at the International Builders' Show (IBS) in Las Vegas. Artisan Shingle helps capture the natural look of cedar shingles while offering the uncompromising performance of the fiber cement. Hardie Soffit Vented Plus Panel exceeds code requirements for roof airflow & reduces the installation time & money by eliminating the need for additional venting. On the other hand, Hardie Backer Cement Board with Hydro Defense Technology is the first & only waterproof cement backer board that provides superior performance, easy installation, and unparalleled tile adhesion.

Regional Landscape:

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Middle East and Africa

Geographically, of all regions, Asia-Pacific holds the largest share of the Fiber Cement Market, mainly because it is the fastest-growing economy worldwide, which creates massive potential for infrastructural developments across the region.

Moreover, the booming construction industry in India & China, substantial investments in infrastructural developments, and mounting awareness regarding the harmful impact of using asbestos are other crucial factors driving the demand for fiber cement in Asia-Pacific. Additionally, stringent norms regarding the use of asbestos cement in construction activities have shifted builders & related authorities towards using alternatives like fiber cement.

Further, Europe is expected to witness the fastest market growth during the forecast period, mainly due to the mounting trend of constructing energy-efficient buildings. Additionally, surging residential constructions in Europe are also fueling the fiber cement market growth across the region.

Market Dynamics:

Key Driver: Rising Demand for Eco-Friendly Construction Material

Asbestos has been the majorly used building material so far. However, owing to its various health & safety hazards, stringent norms have been enforced to limit its usage. The partial ban on the usage of asbestos has resulted in manufacturers shifting toward fiber cement as an alternative. Asbestos & fiber cement is almost similar in properties like fire resistance, thermal stability, etc. But unlike asbestos, fiber cement is environment friendly, which is the key factor attributing to its growing popularity & driving the global market. 

Possible Challenge: Problems Related to Installation of Fiber Cement Siding 

Fiber cement is generally brittle before installation. Therefore, excellent knowledge & awareness are required regarding the usage of different nails. Cutting fiber cement siding gives rise to respirable crystalline silica, a known human carcinogen. Inhaling excessive silica can cause lung cancer & COPD. Hence, the harmful effects of installing fiber cement might hinder the growth of the global fiber cement market during the forecast period. 

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:

  1. What are the overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Fiber Cement Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Fiber Cement Market? 
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in Global Fiber Cement Market based on a competitive benchmarking matrix?
  5. What are the key results derived from the market surveys conducted during the Global Fiber Cement Market study?

Market Outlook, Segmentation, and Statistics 

  • Impact of COVID-19 on Global Fiber Cement Market
  • Market Size & Analysis
    • By Value
    • By Volume
  • Market Share & Analysis
    • By Material
      • Cellulosic Material
      • Portland Cement
      • Sand
    • By Application
      • Cladding
      • Roofing
      • Siding
      • Moulding & Trimming
      • Backer Boards
      • Wall Partition
      • Others
    • By End-Users
      • Residential
      • Non-Residential
    • By Fiber Type
      • Polypropylene
      • PVA
      • Lignocellulose
      • Carbon
      • Others
    • By Production Process
      • Hatschek Process
      • Extrusion Process
      • Perlite Process
    • By Region
      • North America
      • Europe
      • Asia-Pacific
      • South America
      • Middle East & Africa
    • By Competitors
      • Competition Characteristics
      • Market Share & Analysis
      • Competitive Metrix
  • Global Fiber Cement Market Hotspots & Opportunities
  • Global Fiber Cement Market Regulations & Policy
  • Key Strategic Imperatives for Success and Growth
  • Global Competition Outlook
    • Competition Matrix
    • Company Profile

Frequently Asked Questions

A. The Global Fiber Cement Market is forecast to grow at a CAGR of around 5.6% during 2021-26.

A. The Non-Residential sector holds the largest share of the Global Fiber Cement Market and is projected to create remunerative growth opportunities for the leading market players in the coming years.

A. The booming construction industry and surging demand for environment-friendly construction materials are the key factors projected to drive the Global Fiber Cement Market during 2021-26.

A. In the coming years, the Global Fiber Cement Market is expecting considerable growth owing to the resumption of construction activities worldwide.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Market Segmentation
    4. Assumptions
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Fiber Cement Market
  5. Global Fiber Cement Market Dynamics
    1. Growth Drivers
    2. Challenges
    3. Impact Analysis
  6. Global Fiber Cement Market Policies and Product Standards
  7. Global Fiber Cement Market Trends & Insights
  8. Global Fiber Cement Market Hotspot & Opportunities
  9. Global Fiber Cement Market Key Strategic Imperatives for Success & Growth
  10. Global Fiber Cement Market Analysis, 2016- 2026F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
  11. Market Share & Analysis
    1. By Material
      1. Cellulosic Material
      2. Portland Cement
      3. Sand
    2. By Application
      1. Cladding
      2. Roofing
      3. Siding
      4. Molding & Trimming
      5. Backer Boards
      6. Wall Partition
      7. Others
    3. By End-Users
      1. Residential
      2. Non-Residential
    4. By Fiber Type
      1. Polypropylene
      2. PVA
      3. Lignocellulose
      4. Carbon
      5. Others
    5. By Production Process
      1. Hatschek Process
      2. Extrusion Process
      3. Perlite Process
    6. By Region
      1. North America
      2. Europe
      3. Asia-Pacific
      4. South America
      5. Middle East & Africa
    7. By Company
      1. Competition Characteristics
      2. Market Share & Analysis
      3. Competitive Matrix
  12. North America Fiber Cement Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Material
      2. By Application
      3. By End-Users
      4. By Fiber Type
      5. By Production Process
      6. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process  
    4. Canada Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
    5. The Mexico Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
  13. South America Fiber Cement Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Material
      2. By Application
      3. By End-Users
      4. By Fiber Type
      5. By Production Process
      6. By Country
        1. Brazil
        2. Argentina
    3. Brazil Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
    4. Argentina Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
  14. Europe Fiber Cement Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Material
      2. By Application
      3. By End-Users
      4. By Fiber Type
      5. By Production Process
      6. By Country
        1. The UK
        2. Italy
        3. Germany
        4. France
        5. Others
    3. The UK Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
    4. Italy Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
    5. Germany Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
    6. France Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
  15. Middle East & Africa Fiber Cement Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Material
      2. By Application
      3. By End-Users
      4. By Fiber Type
      5. By Production Process
      6. By Country
        1. Saudi Arabia
        2. South Africa
        3. Rest of the Middle East & Africa
    3. Saudi Arabia Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
    4. South Africa Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
  16. Asia-Pacific Fiber Cement Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. By Value
      2. By Volume
    2. Market Share & Analysis
      1. By Material
      2. By Application
      3. By End-Users
      4. By Fiber Type
      5. By Production Process
      6. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Others
    3. China Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
    4. Japan Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
    5. India Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
    6. South Korea Fiber Cement Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. By Value
        2. By Volume
      2. Market Share & Analysis
        1. By Material
        2. By Application
        3. By End-Users
        4. By Fiber Type
        5. By Production Process
  17. Competition Outlook
    1. Competition Matrix
      1. Product/ Solution Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. James Hardie Industries PLC (Ireland)
      2.  Allura (US)
      3. Cembrit Holding A/S (Denmark)
      4. Etex Group NV (Belgium)
      5. American Fiber Cement Corporation (US)
      6. Toray Industries Inc. (Japan)
      7. Nichiha (Japan)
      8. Cembrit Holding A/S (Denmark)
      9. CSR Limited (Australia)
      10. Elementia
  18. Disclaimer
Global Fiber Cement Market Segmentation