According to the market research report “Fiber Cement Market By Type (Asbestos, Polypropylene, PVA, Others) By Production Process (Hatschek, Extrusion, Perlite) By Product (Flat Sheet, Laminated Skirt, Others) By Application (Agriculture, Residential, Others) By Geography: (2015-2020)”, published by IndustryARC, global fiber cement market is estimated to generate revenue of $16.17 billion by 2020.
Browse 74 Tables, 22 Figures spread through 154 Pages and an in-depth TOC on “Fiber Cement Market”.
Fiber Cement is a composite building material of cement and sand reinforced by cellulose fibers which facilitate a number of traits including resistance to cracking, lighter weight and a degree of flexibility. Fiber cement products are generally used for cladding and roofing purposes. The composition and production parameters of these products play a major role in its cost, performance and strength. Fiber cement is reinforced with fibers, which in its fresh plastic state, is workable into virtually any shape and form, thereby providing extended flexibility to the design. The excellent performance of fiber cement products in severe weather conditions, high toughness at minimal thickness, inflammability, biological resistance, frost resistance and favourable vapour permeability have paved the way for extended future use. Fiber cement has a wide range of applications which include agriculture, industrial, residential, non-residential, commercial and others.
The market in 2014 was $12.4 billion and is dominated by APAC which is poised to exhibit the fastest growth due to favorable macroeconomic conditions like population growth and financial conditions like increasing FDI investments. China and India are the growth frontiers for the fiber cement manufacturers providing a huge market to be tapped. China is the largest fiber cement market with a share of 35% in Asia-Pacific region. Other major market includes Europe which accounted for a significant market share.
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North America leads the global fiber cement market followed by Asia Pacific
The demand for fiber cement is growing at a steady pace across the globe, with a few regions growing much faster than others. The North American market is the largest and the fastest growing market followed by Asia Pacific (APAC). The US is a major market in the North American region growing at 8.0 % annually; it is forecast to reach $2.7 billion by 2017.
Growth in APAC is attributed to the increase in residential construction. With the increase in population and a higher per capita income, the growth of fiber cement products is on an upsurge. On the contrary, the growth in Europe and rest of the world is seen to be steady.
The number of manufacturers across the world for fiber cement has increased manifold. These manufacturers are actively investing in scaling up its position in the market and are able to attract profitable deals. Some of the major players are James Hardie Industries PLC, Saint Gobain, Nichiha, Maxtile and many others. Major firms spent huge amounts of money in the development of efficient technologies and at the same time, new firms are coming up with cutting-edge technological innovations, resulting in tremendous increase in the degree of competition. Consequently, product launches, mergers and acquisitions and partnerships by companies, universities as well as individual researches has been frequenting the construction market headlines, which eventually increases the sales of fiber cement products.
Residential building sector is forecast to be the fastest growing application for fiber cement market
The new housing market is all set to experience rapid growth in fiber cement demand in the near future. The demand for planks is on a surge under this application as, builders will prefer siding and roofing done from fiber cement over the traditional wooden planks as it offers a similar appearance, but would require little maintenance when compared to its counterpart wood. Also the resistances from external environment or insect attacks, which fiber cement products provide are far superior than wood.
Residential improvement and repairs are forecast to account for the largest share of fiber cement products in the coming future. Consumer interest in bathroom renovation projects supported demand for fiber cement backer board installed beneath decorative tile flooring and bathtub and shower surrounds.
There are number of companies who are providing fiber cement with respect to the necessity of end user sectors. The global fiber cement market in 2014 was dominated by few key players as shown below.
James Hardie claimed prominent share of fiber cement market. It is the dominant key player in terms of individual share amongst the top three players. It held 13% share in the fiber cement market in 2014. The company’s product portfolio includes a wide range of sidings, panels and boards. Etex Group occupied second position pertaining to fiber cement market with 10% market share. Other companies apart from the above mentioned three players aggregately held 71% share in the overall fiber cement market. Nichiha Corporation also held significant share of 6% in this market in 2014.
The overall fiber cement market is characterized by large number of companies but top three companies account for more than 29% market share due to the wide distribution network and brand reputation. Rapid developments in emerging countries and use of innovative products and materials in activities have supported the growth of fiber cement market. Along with the demand growth, the adoption of new technologies for construction in emerging economies such as China and India provides a strong impetus to the fiber market growth. Innovation is a key driver for this segment. As per the industry, construction sector spends approximately 3% of its sales on R&D of new products and technologies. This is one of the strategies to increase the market share. The new firms that venture into this market will need huge capital for investment in manufacturing and marketing along with offering product or pricing benefits to customers. The market is poised to exhibit new product launches and strategic acquisitions or partnerships, as major companies explore for new opportunities.
The fiber cement market report is a comprehensive study of the market for different types of fibers, production process, product type, applications and geography.
The market is analyzed by the following end user areas:
Following key players were also covered as part of the market landscape analysis:
- James Hardie Industries PLC
- Saint Gobain
The market has also been analyzed for four geographic regions which include North America, APAC, Europe and Rest of the World.
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