The Global Fiber Cement market is predicted to reach USD 18.40 billion in 2024 and USD 24.16 billion by 2029, growing at a CAGR of 5.6% during the forecast period.
Fiber cement, often known as reinforced fiber cement, is a composite construction material. Portland cement, fine silica (sand), cellulosic material, and other additives make up the majority of it. Fiber cement is a low-cost composite material that is resistant to fungi, mold, and bacteria, making it more durable. Furthermore, because the substance is inert, it may be disposed of in landfills without causing harm to the environment. Boards, panels, and siding made of fiber cement are commonly utilized in the construction of residential and commercial structures due to their fire and impact resistance. Exterior wall cladding, partition walls, ceilings, and aesthetic applications all use fiber cement panels.
Moreover, factors include increasing urbanization and industrialization in developing countries, a booming construction sector, the high efficiency of fiber cement products, and the ban on asbestos cement products are driving the global fiber cement market. Furthermore, greater infrastructure investment provides market participants with opportunities.
It is frequently utilized in residential construction for rooftop extensions, storage rooms, sentry posts, cottages, farmhouses, site offices, and so on. In addition, offices, labor quarters, transit camps, rehabilitation centers, schools, and healthcare facilities are among its commercial applications. Fiber cement has a long life span, is versatile and attractive, and is resistant to heat and fire, weather, warping, and rotting. It also has high strength and low maintenance cost.
The residential building business is seeing tremendous growth due to a growing worldwide population, increasing family trend with a count of 3 to 4 persons or conjugal family system and high disposable income. According to a UN estimate released in 2019, the world's population is predicted to increase by 2 billion people in the following years, from 7.7 billion today to 9.7 billion in 2050. Therefore, the development in residential construction in emerging countries, which coincides with increasing economic conditions, is a major driver of fiber cement demand.
The issue with Fiber cement installation acts as a major factor that hamper the global fiber cement market growth in the upcoming years. Before being put on the wall, fibre cement might be fragile. To avoid blowouts at the place of attaching on the panel, it's important to understand the different types of nails and guns. Cutting fibre cement siding releases crystalline silica into the air, which is a recognized human carcinogen. Excessive silica inhalation can cause silicosis, lung cancer, and COPD. When installing fibre cement, installers must take steps to protect their health. Fiber cement market expansion is being hampered by factors such as installation, maintenance, and lack of environmental friendliness.
Fiber Cement Siding and Moisture Issues may also hinder the global fiber cement market growth in the next six years. Customers who suffered moisture-related damage to their homes have filed a number of class-action lawsuits against manufacturers. The porous nature of this material allows it to absorb water through the cut edges. This water might then cause cracks or splits as a result. Mold and mildew can grow in the sheathing as a result of moisture. In contrast to wood siding, which dries rapidly, fibre cement takes a long time to dry. This worse the problem during prolonged periods of heavy rain or snow. All required gap clearances must be carefully monitored. Any deviation from the recommendations could result in major moisture issues.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
5.6% |
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Segments Covered |
By Raw Materials, Product Type, Application, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Market Leaders Profiled |
American Fiber Cement Corporation, Cembrit Holding A/S, CSR Limited, Etex Group, James Hardie Building Products Inc., NICHIHA, Plycem, The Siam Cement Public Company Limited, Toray Industries Inc., TPI Polene Public Company Limited |
Portland cement is made by combining a variety of materials such as calcium, silica, iron, aluminum, and other additives. Ordinary Portland cement (OPC) and white Portland cement are the two types of Portland cement. Over the next seven years, rising demand for fiber cement is predicted to contribute to demand. Furthermore, the low cost and simple availability of the ingredients needed to make Portland cement, such as limestone, naturally occurring minerals, and shale, are projected to drive global fiber cement market expansion.
Because of their strength and longevity, they are a popular siding and roofing material for agricultural and commercial buildings. Corrugated sheets are commonly utilized in the residential sector as roofing and siding materials in large quantities. They're long-lasting, weatherproof, and won't rot or deteriorate. This form of roofing is currently employed to replace asbestos sheeting, as it is safer and often more economical. Corrugated sheets must be maintained every 5-10 years, depending on the pollution levels in the area where they are put. These roofing sheets are great for shielding garages, porches, and sheds because they are extremely durable and environmentally friendly. Consumers are dissatisfied with the current traditional solutions and want more value from their corrugated sheet expenditures. As a result, the demand for corrugated sheets in the Fiber cement industry has increased.
Siding is considered as a type of building material that is used to cover the outside of both residential and commercial structures. Because it is made up of water, wood pulp, fly ash or silica sand, and Portland cement, fibre cement siding has the appearance of wood or masonry but is concrete resistant. Fiber cement siding has grown in popularity due to its durability and flexibility.
During the projected period, the growing demand for fiber cement in the building and construction industry is expected to fuel market expansion. Individuals' increased disposable incomes, together with improving living standards, are expected to be the primary drivers of the building and construction industry's expansion.
The Asia-Pacific region comprises some of the world's fastest-growing economies, and each country is working to build a pipeline of infrastructure development prospects. The market for fiber cement is predicted to develop as the global economy improves, the construction sector expands, particularly in fast-growing nations like China and India, foreign investments increase, and people become more aware of the dangers of asbestos use.
Moreover, Germany accounts for the largest fiber cement market share. The construction industry in Germany has been growing at a modest pace, mainly to an increase in the number of new residential construction projects.
The structural reforms in North America have attracted large investments in the infrastructure and manufacturing sectors, allowing fiber cement to be used more widely. In addition, the region's market growth is being fueled by federal policy stimulus in the United States and Canada and an increase in commercial construction activity.
American Fiber Cement Corporation, Cembrit Holding A/S, CSR Limited, Etex Group, James Hardie Building Products Inc., NICHIHA, Plycem, The Siam Cement Public Company Limited, Toray Industries Inc., TPI Polene Public Company Limited are some of the notable companies in the Fiber Cement market.
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