Europe Fiber Cement Market Projected to Expand at a CAGR of 4.6% By 2023

The Europe Fiber Cement Market is estimated to reach $4,411 million, registering a CAGR of 4.6% from 2018 to 2023. Moreover, the Western European region is expected to dominate the European market by 2023, registering a CAGR of 4.9% from 2018 to 2023.
"Increase in adoption of non-asbestos fiber cement products post the ban on asbestos products has supplemented the growth of the market. The region focuses on eliminating use of toxic minerals in infrastructure development projects and promotes the adoption of eco-friendly cement products."

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Growth in the construction industry in developing countries, the ban on asbestos cement products, high-efficiency fiber cement products, an increase in rapid urbanization and industrialization. The increase in infrastructure investment also serves as an opportunity for the European market. However, a lack of skilled labor in developing countries in Europe is expected to hamper the growth of the fiber cement market.
The key market players profiled in the report include Evonik Industries AG, GIP GmbH, MASTERTEC GmbH & Co. KG, Briarwood Products Ltd., RILCO UK, VIVALDA Limited, BRICQ SAS, PLAKA Group France SAS, Compagnie de Saint-Gobain S.A., Amiantec 3000, S.L., Grupo LOHE F.S., S.A., Tubex SA, Bernardelli Group, and LANDINI S.p.A. di Landini Cav. Mirco.
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Fiber cement products have gained popularity in recent years. Homeowners prefer fiber cement siding compared to vinyl siding due to durability, resistance to termites and water, flame retardancy and low maintenance. Increasing consumer interest in fiber cement boards, sheets, slates and other products has created a favorable opportunity for fiber cement manufacturers to offer a wide range of products in dark tones and natural colors.
End users of the fiber cement industry are residential and commercial sectors. Industrial sector projects generated the highest return in 2016 due to the large scale installation of fiber cement products in industrial infrastructure projects. However, the housing sector is expected to experience rapid growth during the forecast period due to rapid urbanization in developing countries in Europe.

Western Europe was the highest revenue contributor to the fiber cement market in 2016 and is expected to maintain its position throughout the forecast period. Rapid renovation projects in countries such as Germany, the UK, Sweden, and France have led to high adoption of fiber cement products in the region, and is anticipated to boost the fiber cement market.

Key Findings of the Europe Fiber Cement Market:
1. Western Europe is projected to be the fastest growing region, in terms of revenue, registering a CAGR of 4.9% during the forecast period.
2. The trim segment is anticipated to witness highest growth rate during the forecast period.
3. Germany dominated Western Europe in 2016 and is estimated to continue its dominance throughout the forecast period.
4. Czech Republic is projected to register highest growth during the period 2018-2023.
5. The commercial segment was the highest revenue contributor to the Europe fiber cement market in 2016, accounting for 61.4% share and is expected to 6. maintain its dominance throughout the forecast period.

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