The global fiber cement market is expected to reach a value of US$ 26,970.3 Mn in 2032, with the market growing at an average CAGR of 4.7% during the forecast period of 2022 to 2032. In 2022, the fiber cement market is likely to reach an estimated US$ 17,038 Mn; pushed to grow by the escalating need to control carbon emissions from the construction and building sector. Owing to its distinctive physical characteristics like durability and high strength, fiber cement is one of the most popular and essential composite materials. It is used in the manufacture of facade and roofing goods. A vital part of building and construction materials industry, fiber cement gains large-scale usage in both interior and exterior applications like siding, cladding, and roofing, molding and trimming. The material contains all the necessary physical and chemical qualities to endure the negative impact of weather, temperature, and humidity. In addition to this, fiber cement has superior performance and other advantages over traditional cement such as low maintenance, resistance to warping, sagging and fireproof capabilities. All of these factors promote a positive environment of growth for the fiber cement market during the projected period. Because of such unique and beneficial properties, many players in the construction and building industry are more and more inclined to use fibre cement over traditional building & construction materials such as wood and vinyl. This will further stimulate the target market and generate greater sales opportunities for partakers in the international fiber cement market. “The growing need to limit carbon footprints coupled with heightened demand from the construction sector is expected to bolster the market growth of the fiber cement industry over the forecast period,” says an FMI analyst. Key Takeaways: • • • • • •
Rising popularity and easy availability of cost-effective asbestos-based products may hamper the market growth. In 2022, North America is expected to account for 14.5% of the overall market share. Europe will likely acquire 19.6% of the total market share by the end of 2022. Driven by expanding construction sector, Asia Pacific to account for 12% of the market share. By application, the siding sector is expected to register high demand. In terms of raw material, portland cement is predicted to dominate the market.
Competitive Landscape Dow Chemical Company, Hardie (James) Industries plc, Imerys SA, Elementia SA de CV, Building Materials Corporation of America, PPG Industries Incorporated, Akzo Nobel NV, Canfor Corporation, Ecolab Incorporated, Central Fiber LLC, Mercer International Incorporated and US Silica Holdings Incorporated., among others are some of the major players in the fiber cement market that are profiled in the full version of the report. Leading market players are concentrating on expanding their business by deploying strategic mergers and acquisitions. These enterprises are engaging in agreements, collaborations and partnerships to expand their product portfolios.