Fiber Cement Market is projected to reach USD 20.8 Billion By 2025 & By Top Key Players - Etex Group NV, James Hardie Industries PLC, Evonik Industries AG, Toray Industries Inc

The global fiber cement market was estimated as USD 13.6 Billion in 2016 and is projected to reach USD 20.8 Billion by 2025 growing at a CAGR of over 4% during the forecast period. Increasing investment for construction and other infrastructure activities, growing urbanization and industrialization and benefits of fiber cement over other alternatives are the major factors propelling the growth of fiber cement industry. Moreover, stringent government regulations against the use of asbestos are also generating new opportunities for the fiber cement market.

Cement is a substance which reacts chemically with water thus, forming a solid bond, which binds two materials. Addition of fiber particles strengthens the bond, making strong and long lasting infrastructures. Fiber cement is a composite material used for building and construction purposes, utilized mainly in roofing and facade products. The fiber cement initially constituted of 90% cement and 10% asbestos fibers mixed with water.

Government’s ban on asbestos, led to the use of cellulose fiber extracted from plantations, as its substitute. Presently, the fiber cement is composed of Portland cement, sand, water and small amounts of other chemical additives to provide products with particular characteristics. Fiber cement boards and planks are flexible, water resistant, fire proof, highly durable and resistant to insects and chemical corrosion. They are useful in all kinds of buildings and throughout the whole house, including, walls, roofs, false wall, etc. Applications of fiber cement building materials includes their use as substrates, for internal/external cladding and use in wet areas where water resistance is required, as well as areas where weather and fire resistance is essential.

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The global fiber cement market is bifurcated on the basis of material used, application, end-use and region. Based on the material used, the fiber cement industry is segmented as Portland cement, sand, cellulosic material (fiber) and others (paints, polymeric additives, etc.). Portland cement accounts to the largest market share owing to the low cost and huge availability, which makes it one of the widely utilized materials for construction across the globe, mainly used for making concrete and mortar.

Further, on the basis of applications, the fiber cement industry is categorized as molding & trim, siding, roofing & ceilings and others, which includes backer boards, countertops, interior wall cladding, etc. Siding segment accounts to the major market share, owing to the fact that the fiber cement siding does not need maintenance and is resistant to water and fire. It also improves the aesthetic appeal of the buildings.

According to the end-use, the fiber cement industry is segmented as, residential, commercial and industrial. Increased government schemes of providing houses and quarters to the citizens in many countries, is one of the major reasons for growth of residential segment, of fiber cement market.

Based on geography, the fiber cement industry is bifurcated as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. Asia-Pacific region is anticipated to grow at the maximum rate from 2017 to 2025. This is due to the reason that the countries in APAC region have high population ranking and are expected to adopt new projects in the construction sector, thus generating a huge demand for fiber cement.

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Prominent players in the global fiber cement market includes, Etex Group NV, James Hardie Industries PLC, Evonik Industries AG, Toray Industries Inc., CSR Limited, The Siam Cement Public Company Limited, Nichiha Fiber Cement, Plycem USA, Inc. and Cembrit Holding A/S, among all the others.

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