Global Fiber Cement Market is anticipated to create a value opportunity of around US$ 24.9 billion by 2031 - Toray Industries, Inc, Beijing Hocreboard Building Materials Co. Ltd, Nichiha Corporation, Louisiana-Pacific Corporation

The global fiber cement market was valued at US$ 17.1 billion in 2021 and it is anticipated to grow up to US$ 24.9 billion by 2031, at a CAGR of 3.8% during the forecast period.

To Remain 'Ahead' Of Your Competitors, Request for A Sample - https://www.globalinsightservices.com/request-sample/GIS23226

Fiber cement [also known as Fiber Reinforced Cement (FRC)] is a versatile building material. Fiber cement comprises a few simple ingredients, including Portland cement, cellulose fibers, sand, and water.

However, the composition may change depending on the manufacturer. Fiber cement is long-lasting and offers excellent overall value. Generally, it costs less than brick, synthetic stucco, and some wood siding options.

Read More Report of Fiber Cement Market: https://www.globalinsightservices.com/reports/fiber-cement-market

It's typically equally or less expensive than hardboard or composite siding and more expensive than vinyl. Fiber cement is commonly used in several sectors of construction, industrial, agricultural, domestic and residential buildings. Further, it is mainly used for roofing and cladding applications in the construction sector. Moreover, it is fast replacing conventional cement in these areas, paving the way for manufacturers, investors, and market growth.

Market Drivers and Trends

A surge in global residential construction is acting as a key driver for the global fiber cement market. For instance, according to the Russian news agency, in July 2021, the commissioning of housing in Russia in the initial 5 months of 2021 increased by over 28% compared to 2020. This growth is attributed to increasing demand for houses because of an improving outlook for growth in sustained employment, record-low interest rates, and programs provided by the government. Moreover, various government initiatives have also been observed to help the housing industry.

Get a customized scope to match, your need ask an expert - https://www.globalinsightservices.com/request-customization/GIS23226

For instance, the South Korean government had taken an initiative to ease the building regulations and to support re-development projects in urban locations to raise the number of new houses up to 8,36,000 countrywide, according to the Yonhap News Agency website data of February 2021. Furthermore, the latest housing policy focuses on growing the home supply in the Seoul metropolitan area and other major cities to stabilize the real estate crises.

This construction activity will boost the growth of residential and commercial buildings in the country. Therefore, the growth in commercial and residential housing constructions and several government initiatives in housing construction are influencing the requirement of fiber cement siding, a durable and low-maintenance material commonly used to cover the exterior of residential houses and, in some cases, also used in commercial buildings.

For In-Depth Competitive Analysis, Purchase this Report - https://www.globalinsightservices.com/checkout/single_user/GIS23226

Global Fiber Cement Market Segmentation

By Material

Portland Cement
Sand
Cellulosic Material (Fiber)
Others

By Application

Molding and Trim
Siding
Roofing
Wall Partitions
Flooring
Backer Boards
Others

By End User

Residential
Non-Residential

Major Players in the Global Fiber Cement Market

The key players studied in the global fiber cement market are Cembrit Holding A/S (Denmark), CSR Limited (Australia), Elementia (Mexico), Etex Group (Belgium), GAF Materials LLC (US), James Hardie Industries plc (Ireland), Louisiana-Pacific Corporation (US), Nichiha Corporation (Japan), Toray Industries, Inc. (Japan), and Beijing Hocreboard Building Materials Co. Ltd. (China).

New Report Published by Global Insight Services: https://www.globalinsightservices.com/reports/hydrogen-projects-database/

Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

This release was published on openPR.