Fiber Cement Market is expected to reach US$ 33,052.23 million by 2028

Surging Demand for Energy-Efficient Buildings to Escalate Fiber Cement Market Growth During 2022–2028

According to our latest study on “Fiber Cement Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and End-Use,” the fiber cement market size is expected to grow from US$ 21,748.45 million in 2022 to US$ 33,052.23 million by 2028; it is estimated to register a CAGR of 7.2% from 2022 to 2028. The report highlights key factors driving the fiber cement market growth and prominent players along with their developments in the market.

Fiber cement offers various advantages, including high strength, resistance, and durability. It is resistant to rot, pests, and fire, making it an excellent choice for residential and commercial buildings. Additionally, fiber cement is low maintenance and does not require frequent painting or sealing.

Global Fiber Cement Market Breakdown – by Region

Fiber cement is a composite building material primarily made of cement reinforced with fibers. They are largely used in flooring, facade, wall cladding, gates, and other construction products. Fiber cement is used in various construction activities owing to its excellent physical characteristics such as being noncombustible, water resistant, UV-resistant, and others. Growing awareness regarding the benefits of fiber cement and rising demand for energy-efficient buildings boost the growth of the fiber cement market. Rapid urbanization and industrialization in developing countries, rising utilization of fiber cement in end-use industries, blooming construction industry, and increasing demand for asbestos-free cement products are also driving the market growth. In addition, rising investments in infrastructure projects would offer lucrative opportunities to market players over the coming years.

James Hardie Industries plc, Etex NV, Swisspearl Group AG, CSR Ltd, NICHIHA Corp, Plycem Construsistemas Costa Rica SA, Compagnie de Saint Gobain SA, Century Plyboards Ltd, Everest Industries Ltd, and Isam Khairi Kabbani Group are a few key players operating in the global fiber cement market. Market players focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as investments in research and development activities and launches of new products.

Impact of COVID-19 Pandemic on Fiber Cement Market

The COVID-19 pandemic adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The construction industry suffered serious disruptions in supply chains, and many construction projects were shut down during the initial phases of the pandemic. The pandemic disturbed supply chains, manufacturing activities, delivery schedules, and product sales. Further, various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. In addition, the bans imposed by various countries on international travel compelled enterprises to temporarily suspend their collaboration and partnership plans. All these factors hampered the construction industry’s growth. However, the resumption of business activities in the construction sector is creating demand for fiber cement.

The report includes the segmentation of the global fiber cement market as follows:

The global fiber cement market is segmented on the basis of type, application, and end-use. Based on type, the global fiber cement market is bifurcated into air-cured and autoclaved. Based on application, the market is segmented into roofing, outside siding or façade, and others. Based on end-use, the market is bifurcated into residential and non-residential. By region, the global fiber cement market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America fiber cement market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific fiber cement market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America fiber cement market is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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