New Trends of Fiber Cement Market with Worldwide Industry Analysis to 2024
The global industry of construction has consistently been seeking solutions or improvements to the materials being used for roofing and similar other applications. One of the core solutions that is being used today is fiber cement, which is a composite building and construction material that can provide high levels of durability and toughness. Owing to the material type and the method of manufacturing, a large part of the current global fiber cement market is involved in the creation of products intended for cladding and/or roofing.
The global fiber cement market can find a very wide range of applications today through the construction industry, in residential, domestic, and industrial applications. They are also able to impart a better quality of fire protection to structures and are therefore strongly considered for use in renovation projects as well. Fiber cement constructs are also highly regarded for use in siding, due to the low maintenance nature of sidings and the fact that fiber cement objects are easier to increasing aesthetic appeal with.
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This report on the global market for fiber cement presents a detailed the analysis of the present state of the market with details regarding key drivers, restraints, and chief trends representing consumer preferences, quantitatively and qualitatively. The report includes a detailed analysis of the expected impact of these factors on the overall development of the market over the period between 2016 and 2024.
Global Fiber Cement Market: Trends and Opportunities
The vast rise in usage of fiber cement for the production of façade and roofing products, chiefly owing to its high strength and durability, and the increasingly stringent regulations restricting the use of asbestos cement are some of the key factors credited to the healthy growth prospects of the global fiber cement market. A thriving construction industry across developing economies in regions such as Asia Pacific, Africa, and Latin America, with increasing investment in infrastructure development and housing projects, is also expected to lead to an increased demand for fiber cement in the next few years.
However, certain factors are expected to hinder market growth over the report’s forecast period, including the complex process of installing products made from fiber cement as well as the high base cost of these products, compelling cost-sensitive developing or less developed economies to favor alternatives. Nevertheless, the increased use of the composite in fire protection applications is a window of opportunity for companies operating in the global fiber cement market.
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Global Fiber Cement Market: Segmentation
The key applications of fiber cement are found in the construction of siding and roofing. Of these, the segment of siding presently accounts for the leading share in the market in terms of revenue contribution and is expected to retain its position as the leading segment over the forecast period as well. Rising demand for fiber cement for siding applications, chiefly owing to the aesthetic appeal and durability it provides, will help the segment account for a leading share in the global market revenue.
From a geographical perspective, the global fiber cement market in Asia Pacific is expected to witness growth at the most promising pace over the report’s forecast period. The thriving construction industry in residential as well as commercial sectors will fuel the overall demand for fiber cement in the region. Developing economies such as India and China will contribute to most of the region’s demand for fiber cement over the forecast period.
Some of the key companies operating in the global fiber cement market are James Hardie Industries PLC, Etex Group NV, Evonik Industries AG, Toray Industries Inc, and Compagnie de Saint Gobain SA.
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