Market Overview:
Fiber cement, also known as reinforced fiber cement, is a composite building material used in construction. It is mainly composed of Portland cement, fine silica (sand), cellulosic material, and other additives.
Fiber cement products include boards, panels, and siding and are widely used in the construction of residential and commercial buildings due to their fire and impact resistant properties. Fiber cement panels are used for exterior wall cladding, partition walls, ceilings, and decorative applications.
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Key Players
Some of the key market players in the global fiber cement market are Alpha Roofing Industries, LLC (US), GAF (US), Allura (US), American Fiber Cement Corporation (US), Cembrit Holding A/S (Denmark), James Hardie Industries PLC (Ireland), Etex Group NV (Belgium), CSR Limited (Australia), Toray Industries Inc. (Japan), Nichiha (Japan), and Shandong Cement (China).
Competitive Analysis
The key market players in the global fiber cement market are implementing various tactics such as product launches, acquisitions, and expansions to enhance their market shares.
In April 2018, James Hardie Industries PLC announced its acquisition of the German XI (DL) Holdings GmbH and its subsidiaries from Xella International SA, aiming towards speeding up the growth rate of the company’s fiber cement business in European countries.
Fiber cement is a low-cost composite building material that is used in construction, primarily made of Portland cement, cellulosic material, fine silica (sand), and other additives. It is also known as reinforced fiber cement and provides resistance to fungi, mold, and bacteria, hence, increasing its durability and demand. in addition, the material is inert and, thus, is environmentally friendly.
Fiber cement products include panels, boards, and siding and are widely used in the construction of residential, commercial buildings and warehouses, among others, owing to their impact, water, and fire resistant properties. Fiber cement panel is used for partition walls, exterior wall cladding, ceilings, and decorative applications. Fiber cement boards are used in corridors, tunnels, shopping malls, hotel lobbies, and residential buildings, while fiber cement decorative cladding is commonly used for rainscreen applications.
According to a report published by Market Research Future (MRFR), the rising demand for fiber cement in the building and construction industry is likely to drive the market growth over the forecast period. The rising disposable income along with the growing standard of living of consumers is anticipated to be the key factors influencing the growth of the construction industry, which will consequently contribute to the demand for fiber cement during the forecast period.
Segmental Analysis
The global fiber cement market is segmented on the basis of material, application, product, end user, and region.
Based on material, the global market for fiber cement is segregated into the sand, cellulosic material, Portland cement, and others.
based on application, the global fiber cement market has been divided into flooring, cladding, inner lining, partition walls, fire, and acoustic walls, molding & trim, ceilings, and others.
On the basis of product, the global fiber cement market has been categorized into boards, panels, siding, and others.
the end user segment of the global fiber cement market is bifurcated into residential and non-residential
Based on the region, the global fiber cement market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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Regional Analysis
Asia-Pacific has been accounted as the largest share of the global fiber cement market and is anticipated to dominate the market share during the forecast period, owing to the rapid urbanization and growing residential construction in the region. The major developing countries contributing to the growth of the fiber cement market in Asia-Pacific are China, Japan, Indonesia, India, and Australia.
North America and the Middle East & African region are the other considerable markets for fiber cement. rising residential construction in Canada and the US is likely to fuel product demand in the coming years. Due to essential investments in the construction industry for residential and commercial buildings, the fiber cement market in the UAE is anticipated to grow at a significantly higher rate.
Europe and Latin American regional markets for fiber cement are projected to showcase comparatively moderate growth over the forecast period.
Intended Audience
- Fiber cement manufacturers
- Traders and distributors of fiber cement
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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