siding segment contributes maximum market share to the fiber cement market
Posted by Robin White on December 11th, 2019
The market for fiber cement is projected to grow from USD 13.75 Billion in 2016 to USD 17.38 Billion by 2021, at an estimated CAGR of 4.80%. This growth is due to growing construction activities, globally. Stringent regulations against the use of asbestos cement also provide an opportunity for the market to grow further, especially in the emerging Asia-Pacific and Latin American regions.
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Fiber cement siding is the largest application area. This is because fiber cement siding does not require maintenance and is impervious to degradation. Also, growing construction projects, both residential and commercial, have driven the market in this segment. Other application areas of fiber cement are roofing, molding & trim, countertops, and backer boards.
Target audience
Raw material suppliers and producers
Regulatory bodies
Fiber cement distributors/suppliers
End users (builders, contractors)
Asia-Pacific to play a key role in the market for fiber cement
On the basis of key regions, the market for fiber cement is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The Asia-Pacific region is the most attractive market for fiber cement. The rising economy and rapid growth in the infrastructure sector in this region have significantly impacted the growth of fiber cement. This region is projected to see the highest number of new constructions and infrastructural activities in the near future.
The global market for fiber cement is dominated by large players such as Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Compagnie de Saint Gobain SA (France), and Toray Industries Inc (Japan). Other players in this market include CSR Limited (Australia), The Siam Cement Public Company Limited (Thailand), Nichiha Fiber Cement (Japan), Plycem USA, Inc. (U.S.), and Cembrit Holding A/S (Denmark).
