FIBER CEMENT MARKET TO REACH USD 21.8 BILLION BY 2027 | CAGR 4.2% – FORENCIS RESEARCH

Fiber Cement MarketΒ - Global Industry Analysis and Forecast 2020 to 2027

Global Fiber Cement Market: Key Highlights

  • According to the new market research report Fiber Cement Market by Material (Portland Cement, Sand, Cellulosic Material (Fiber)), by Application (Molding and Trim, Siding, Roofing, Wall Partitions, Flooring, Backer Boards), by End-Use (Residential and Non-Residential), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Fiber Cement market is estimated to reach USD 21.8 Billion by 2027 at a CAGR of around 4.2% during the review period.
  • Fibre cement is a composite building and construction material, used mainly in roofing and facade products because of its strength and durability.
  • Fiber cement is a low-cost composite material and provides resistance to fungi, mold, and bacteria, thus increasing its durability
  • It is chemically inert and, hence, can directly be dumped in landfills without causing harm to the environment.
  • However, fluctuations in raw material prices remain a major restraining factor for the growth of the fiber cement market

Fiber Cement Market

Global Fiber Cement Market: Key Market Dynamics

  • Increasing government regulation of the use of asbestos has expected to drive the fiber cement market globally
  • 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
  • Growing demand for fiber cement over its alternatives is also expected to drive the global fiber cement market
  • However, the high installation cost of fiber cement products is likely to hamper the market growth up to a certain extent
  • Volatility in raw material prices remains a major threat to the market growth

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Global Fiber Cement Market: Regional Overview

  • Asia-Pacific

The Asia-Pacific is expected to dominate the global ethylene carbonate market in terms of both volume and value. Moreover, this region is expected to grow at the highest CAGR during the forecasted period. This growth can be attributed to rapid urbanization and increasing residential construction in the region. China, India, Japan, Indonesia, and Australia are the major countries contributing to the growth of the fiber cement market in Asia-Pacific. In addition, stricter norms regarding the use of asbestos cement in the construction of residential and commercial buildings have made it mandatory for builders and related authorities to look for alternatives such as fiber cement. This, in turn, boosts the demand for fiber cement in the Asia-Pacific market

Global Fiber Cement Market: Key Players Overview

  • James Hardie Industries PLC.:

James Hardie Industries PLC. is a Australia-based company one of the global leader in manufacturing fibre cement siding and backerboard. The Company’s product used in new residential construction (single and multi-family housing), manufactured housing, repair and remodeling and a variety of commercial and industrial applications. James Hardie Industries PLC. manufacture various types of fiber cement products with a variety of patterned profiles and surface finishes for a range of applications, including external siding and trim and soffit lining, internal linings, facades and floor and tile underlay. The company has a presence in USA, Canada, Australia, New Zealand, the Philippines and Europe. In December 2017, James Hardie Industries PLC.  has acquired XI (DL) Holdings GmbH (Germany) and its subsidiaries, manufactures and distributer of gypsum fiber and cement-bonded boards.

  • Evonik Industries AG:

Evonik Industries AG is Germen-based company engaged in the manufacturing the speciality chemicals. The company operates through four business segments namely  The nutrition and care, resource efficiency, performance materials, and service. Performance Materials segment produces polymer materials and their intermediates, mainly for the rubber, plastics and agriculture sectors. The company has a global reach with its services in around 100 countries.

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Rep Id : CM 0116

Published : 2020-07-31

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