Fiber Cement Market Demand Analysis and Projected huge Growth by 2030

Allied Market Research recently released a comprehensive report titled "Fiber Cement Market by Raw Material, Construction Type, and End Use: Global Opportunity Analysis and Industry Forecast, 2021-2030". The report forecasts that the global fiber cement market will reach $24.4 billion by 2030, with a projected Compound Annual Growth Rate (CAGR) of 4.11% during the period from 2021 to 2030. In 2020, the market was valued at $16.4 billion.

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Drivers, Restraints, and Opportunities:

- The increasing global consensus on reducing carbon emissions in the building & construction sector is expected to drive the expansion of the fiber cement market.
- However, a shortage of skilled labor in developing economies could hinder market growth.
- Despite challenges, opportunities abound due to rapid urbanization, industrialization, and the high efficiency of fiber cement products.
Dominant Segments:

- The Portland cement segment accounted for the highest share in 2020, driven by its extensive use in concrete, mortar, and stucco.
- The cellulosic fiber segment is expected to witness the highest CAGR of 5.09% during 2021-2030.

Fast-Growing Segments:

- The siding segment held the largest market share in 2020 and is expected to grow rapidly due to increasing residential and non-residential projects.
- The molding and trim segment is anticipated to demonstrate the highest CAGR of 4.91% during the forecast period.

Profitable Regions:

- Asia-Pacific, Europe, and North America accounted for the largest market share in 2020, with Asia-Pacific projected to be the fastest-growing region.
- Rising demand for residential construction in Asia-Pacific is a key driver for market growth.

Key Players:

- James Hardie PLC
- Cembrit Holding A/S
- Evonik Industries AG
- Nichiha Corporation
- Saint Gobain SA
- Toray Industries Inc.
- Plycem Corporation
- The Siam Cement Public Co. Ltd.
- CSR Ltd.
- Etex Group NV

Obtain Report Details: https://www.alliedmarketresearch.com/fiber-cement-market

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