The Global Fiber Cement Market is projected to reach a value of over USD 21.8 billion by 2027 at a CAGR of around 4.2%.
Fiber cement is also known as the composite building or construction material of wood fibers, Portland cement, water, and silica, which is used in construction activities, due to its fire and impact resistant properties. Fiber cement is a low-cost composite material and provides resistance to fungi, mold, and bacteria, thus increasing its durability. It is used for exterior wall cladding, partition walls, ceilings, and decorative applications. Fiber cement decorative cladding is used for rain screen applications, while fiber cement boards are used in tunnels, corridors, shopping malls, hotel lobbies, and residential buildings, among others. It is chemically inert and, hence, can directly be dumped in landfills without causing harm to the environment.
Market Driver:
Asbestos is a group of six naturally occurring fibrous minerals composed of thin, needle-like fibers. Exposure to asbestos causes several cancers and diseases, including mesothelioma and asbestosis. Asbestos is an effective insulator, and it can be used in cloth, paper, cement, plastic and other materials to make them stronger. But when asbestos dust is inhaled or ingested, mineral fibers can become permanently trapped in the body. Although asbestos strengthens and fireproofs materials, it is banned in many countries. More than 50 countries, including the United Kingdom, Australia, Canada and all 28 countries of the European Union, have banned the use of asbestos. But the U.S. continues to import and use asbestos with no plan for stricter regulations in place. Thus, increasing government regulation of the use of asbestos has expected to drive the fiber cement market globally.
Market Opportunities:
Globally, all future population growth will take place in cities, nearly all of it in Africa, Asia-Pacific, and South America. In contrast to the past, the role of migration in that growth will be smaller than the natural increase in most countries. This indicates a decisive shift from rural to urban growth, shifting a balance that has lasted for millennia between urban and rural areas. The world’s urban population is expected to grow from 4.2 billion in 2019 to 7 billion by 2050. Thus, as population and urbanization increase the demand for fiber cement will also increase for construction activities, which will be expected to create a huge market opportunity for the key market players.
The report on the Fiber Cement market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
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Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
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Base Year for Market Calculation |
2020 |
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Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) |
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Segments Included |
Material, Application, End-users, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Fiber Cement Market, by Material
Fiber Cement Market, by Application
Fiber Cement Market, by End-Use
Fiber Cement Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE FIBER CEMENT MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
