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Fiber Cement Market: Detailed Examination of Market Size, Key Segments, and Competitive Landscape
Fiber Cement Market
Fiber Cement Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $21.98 billion In 2028 At A CAGR Of 6.0% :
The fiber cement market size has grown strongly in recent years. It will grow from $16.3 billion in 2023 to $17.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to industrialization's impact, market penetration in developed regions, regulatory support and standards, construction boom, architectural evolution.
The fiber cement market size is expected to see strong growth in the next few years. It will grow to $21.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to cost-effectiveness and longevity, consumer awareness and preferences, weather resistance and durability, residential and commercial construction, government regulations and policies. Major trends in the forecast period include urbanization and infrastructure development, rising construction activities, shift towards sustainable building materials, weather resistance and durability, architectural trends and aesthetics.
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Fiber Cement Market Major Segments
The fiber cement market covered in this report is segmented -
1) By Raw Material: Cellulosic Fiber, Portland Cement, Silica
2) By Application: Siding, Roofing, Cladding, Molding and Trimming, Other Applications
3) By End User: Residential, Non-Residential
Key Driver - Construction Spending Surge Fueling Fiber Cement Market Growth
Increasing expenditure on construction is expected to propel the growth of the fiber cement market. With the increase in the construction industry, the use of high efficiency and sustainable fiber cement affixes to the exterior of both residential and commercial spaces due to its characteristics that include resistance to wear and tear to concrete along with benefiting the residential space has increased. For instance, according to the Office of National Statistics UK, the monthly construction output increased by 3.5% in volume in November 2021. Also, according to Invest India, an India-based national investment promotion and facilitation agency, the construction industry in India is expected to reach $1.4 trillion by 2025. Therefore, increasing expenditure on construction is driving the growth of the fiber cement market.
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Prominent Trend - Exploring Technological Advancements In Fiber Cement Applications
Technological advancements are a key trend gaining popularity in the fiber cement market. The companies manufacturing fiber cement are developing new products with the latest technologies to meet the demand from customers across various sectors. For instance, in October 2021, Jogani Impex LLP, an India-based engineered fiber manufacturing company, launched polyfiber 3S. Polyfiber 3S is an innovative concrete and construction fiber consisting of advanced reinforcing material used for durability and infrastructure in the construction of buildings, offices, and industrial plants.
Fiber Cement Market Players
Major companies operating in the fiber cement market report are Wellpool Corporation, SCG Building Materials, Everest Industries Limited, James Hardie Industries PLC, Shandong Shanshui Cement Group Ltd., CSR Limited, Plycem USA Inc., GAF Materials Corporation, Perlite Construction Co. Ltd., Elementia Materiales, Nichiha Corporation, Century Plyboards Ltd., Cembrit Holding A/S, Swisspearl Group AG, Visaka Industries Limited, Hume Cemboard Industries Sdn Bhd, Hekim Yapı A.Ş., Bison Manufacturing Limited, Taisyou International Business Co. Ltd., Allura, Etex Group, Mahaphan Fibre Cement Public Co. Ltd., Shera Public Company Limited, Alpha Roofing industries LLC, Aerocon Corporation, Soben International (Europe) Ltd., EQUITONE, American Fiber Cement Corporation, Hocreboard Building Materials Co. Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the fiber cement market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber cement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fiber Cement Market Report Structure
3. Fiber Cement Market Trends And Strategies
4. Fiber Cement Market - Macro Economic Scenario
5. Fiber Cement Market Size And Growth
…..
27. Fiber Cement Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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