Fiber Cement Siding Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The Fiber Cement Siding market size is projected to reach US$ 6,968.91 million by 2031 from US$ 4,312.99 million in 2023. The market is expected to register a CAGR of 6.2% during 2023–2031. The growing number of residential and commercial infrastructure development and increasing focus on leveraging cost-efficient cement siding is likely to remain a key trend in the market.

Fiber Cement Siding Market Analysis

The rising growing development in the construction sector is projected to increase the development of fiber cement sidings globally. The construction industry in developed countries such as the US and, Canada, the UK, among others has been growing at a significant pace over the past years. The governments in these countries are encouraging public-private partnerships for implementing residential, commercial, and infrastructural works. This has further led to more construction of residential and commercial buildings globally in recent times., which is encouraging the growth of the fiber cement siding market.

Fiber Cement Siding Market Overview

The increase in residential and commercial buildings' construction is anticipated to provide prosperous opportunities for the market to grow globally, thus, positively impacting the demand for fiber cement sidings. Along with that, the smart cities projects are also acting as a driver of the fiber cement siding market. Higher disposable incomes with individuals owing to economic prosperity have been a major factor driving the fiber cement siding market in the residential buildings sector. Thus, the growing number of construction activities is leading to the positive demand for fiber cement sidings globally.

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Fiber Cement Siding Market: Strategic Insights

Fiber Cement Siding Market

• 
  CAGR (2023 - 2031)

  6.2%
• Market Size 2023
  US$ 4,312.99 million
• Market Size 2031
  US$ 6,968.91 million

Market Dynamics

GROWTH DRIVERS

• Growing construction industry

FUTURE TRENDS

• Implementation of Stringent Green Building Norms

OPPORTUNITIES

• Growing Proliferation of Green Building

Key Players

• Swisspearl Group AG
• CSR Limited
• Elementia SAB DE CV
• ETEX Group
• GAF Material Corporation
• James Hardie Industries Plc
• Louisiana-Pacific Corporation
• Nichiha Co. Ltd.
• Toray Industries Inc.

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Material

• Portland Cement
• Silica
• Cellulosic Fiber
• Others

Type

• Clapboard
• Shingles
• Stone or Stucco

End-User

• Residential and Commercial

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Fiber Cement Siding Market Drivers and Opportunities

Growing Development in the Construction Industry to Favor Market

The growing population has directed to high demand for residential and commercial construction activities globally. Regions like Europe, North America, Asia Pacific and the Middle East comprise several developing countries, which generate robust demands for infrastructure projects. The increasing population of these countries is the main driver for the region’s housing industry, which will boost the fiber cement siding market globally. With the booming construction of commercial & residential buildings, the fiber cement siding market is increasing in several countries such as China and Japan due to several benefits such as long-term energy & cost savings, lower emissions & overall environmental impact, better thermal comfort, and consists of continuous ventilation & fresh air throughout the building leads to improved comfort and health. The growing concept of energy-efficient buildings is also boosting the growth of the fiber cement siding market.  

Growing Proliferation of Green Building

Several government initiatives towards introducing energy-efficient and environment-friendly buildings are boosting the demand for the fiber cement siding market. For instance, Germany and the UK are the major countries that focus on building energy-efficient buildings due to respective government investments. This factor is boosting the growth of the fiber cement siding market. The technological advancement for the development of the residential and commercial housing sectors in line with environment sustainability goals is expected to attract local and global players to offer quality-based fiber cement sidings, which are projected to grow opportunities for the market over the forecast period.

Fiber Cement Siding Market Report Segmentation Analysis

Key segments that contributed to the derivation of the fiber cement siding market analysis are product type, application, and end-user.

• Based on the material, the fiber cement siding market is divided into portland cement, silica, cellulosic fiber, and others. The portland cement segment held a larger market share in 2023.
• By type, the market is segmented into clapboard, shingles, and stone or stucco. The clapboard segment held a significant share of the market in 2023.
• By end-user, the market is segmented into residential and commercial. The residential segment held a significant share of the market in 2023.

Fiber Cement Siding Market Share Analysis by Geography

The geographic scope of the fiber cement siding market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America is leading the market. The economy of North America is considered one of the largest in the world. North American countries comprise some of the largest multinational companies in their territories. The US has a larger number of fiber cement siding market players in comparison to the world. The construction companies located in the region are benefitted from the developed facilities available. Being a robust economy allows the government to spend more on construction works for more urbanization. This also helps in the construction of buildings in the region, which will support the fiber cement siding market growth in the region.

Fiber Cement Siding Market Report Scope

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Fiber Cement Siding Market News and Recent Developments

The fiber cement siding market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the fiber cement siding market are listed below:

• Swisspearl Group in Niederurnen, Switzerland, acquired Denmark's Cembrit. (Source: Swisspearl Group, Press Release, June 2022)
• James Hardie Industries Plc acquired land in Melbourne, Victoria,  to establish a fiber cement board plant. (Source: James Hardie Industries Plc, Press Release, March 2022)

Fiber Cement Siding Market Report Coverage and Deliverables

The “Fiber Cement Siding Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Fiber cement siding market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Fiber cement siding market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Fiber cement siding market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the fiber cement siding  market
• Detailed company profiles