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Fiber Cement Market Insights, Forecast, Size, Growth, Trends 2024-2033
Fiber Cement Market
As per the report, 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 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%.
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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.
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 crak-free infrastructure in the construction of buildings, offices, and industrial plants.
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
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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.
Contents of the report:
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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