Fiber Cement Board Market to Hit US$ 2,339.16 million by 2028

The fiber cement board market is expected to grow from US$ 1,682.42 million in 2021 to US$ 2,339.16 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.

Fiber cement board is a versatile building material that may be used in exterior siding, interior walls, false ceilings, and various other areas. They are made of sand, cellulose fibers, and cement and can endure high temperatures, which makes them perfect for construction projects in different climatic conditions. It consists of boards, panels, and siding and is widely utilized in the construction of residential and commercial structures because to its fire and impact resistance. They may also be used for external wall cladding, partition walls, ceilings, and aesthetic purposes. Fiber cement ornamental cladding is typically utilized for rainscreen applications, but fiber cement boards are commonly seen in corridors, tunnels, hotel lobbies, shopping malls, and residential structures, among other places. It is a low-cost composite material that is also resistant to fungus, mould, and bacteria, extending its longevity.

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Based on type, the fiber cement board market is segmented into low-density fiber cement board, medium density fiber cement board, and high-density fiber cement board. The medium density fiber cement board segment led the market in 2021, and it is expected to register the highest CAGR during the forecast period.

Increasing use of fiber cement board in residential sectors

The construction industry extensively uses fiber cement board in residential development for roofing, ceiling, flooring, and tile backing, among other applications. So, real estate and construction industry growth is poised to supplement fiber cement board sales. They are used for external claddings, as a base, flat sheets for windshields, wall copings, corrugated sheets, planks, and slates. They are also used for corrugated sheets and roofing as slates. Fiber cement boards are gaining popularity among residential homeowners because of their various advantages such as versatility, heat and fire resistance, durability, low maintenance, and weather resistance. These boards are also quite useful for decorative purposes such as sidings, flooring, ceiling, roofing materials, soffit, trims, and as a tile backing board. Fiber cement board market is observing significant growth owing to its utilization as fiber cement board inside the house, such as in kitchens and bathrooms, due to its durable, water-resistant, and waterproof nature. In addition, accelerating construction expenditures, specifically in new housing, will spur demand. The construction industry in the Asia Pacific region is the largest across the globe. It is growing at a healthy rate, owing to the growing population, increase in middle-class income, and urbanization. Thus, the growing residential construction and an increased application of fiber cement board in the residential construction sector are driving the growth of fiber cement board market across the world.

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