Navigating Fiber Cement Market Trends: USD 19.1 Billion in 2023 and Boasting a CAGR of 5.6% Projections by 2030

Market Overview: Fiber Cement Market

MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on Fiber Cement Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

Fiber Cement Market Insights 2024-30

The Fiber Cement Market is estimated to grow at a CAGR of around 5.6% during the forecast period 2024-30.

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Driving Innovation: Exploring the Fiber Cement Market and its Key Driver

Global Fiber Cement Market Driver: Rising Prominence of Fiber Cement as an alternative to Asbestos in the Construction Industry 

One of the significant key drivers responsible for the expansion of the market includes the rising prominence of fiber cement in the construction industry. Undoubtedly, the product has plenty of benefits to offer to its end users, and the market is projected to follow the footprints of success during 2024-2030. The growth can be attributed to the ban imposed on asbestos cement products. The International Ban Asbestos Secretariat (IBAS) reports that over 60 countries have enacted complete bans on Asbestos due to its well-known health and safety risks.

Since they are often used for residential construction for rooftop extensions, storage rooms, cottages, farmhouses, site offices, and so on, manufacturers have turned their focus to fiber cement as an alternative to Asbestos, citing their functional similarity. Moreover, due to its extended life, versatility, and attractiveness, paired with its remarkable resistance to fire, weather, warping, and rotting, the product has gained popularity in the construction industry. Such tremendous factors are urging the market to expand exponentially during the projected period.

Top Players in the Fiber Cement Market:

-James Hardie Industries PLC (Ireland)

– Allura (US)

-Cembrit Holding A/S (Denmark)

-Etex Group NV (Belgium)

-American Fiber Cement Corporation (US)

-Toray Industries Inc. (Japan)

-Nichiha (Japan)

-Cembrit Holding A/S (Denmark)

-CSR Limited (Australia)

-Elementia

Recent Developments in the Global Fiber Cement

Market

• In March 2022, James Hardie Industries took a step further for its planned fiber cement capacity expansion by purchasing land in Melbourne, Victoria. The company plans to add a fiber cement manufacturing site in the State of Victoria to support the strong demand for high-value building solutions in the Asia Pacific region.
• In January 2022, Swisspearl Group AG successfully positioned itself as Europe’s second-largest fiber cement manufacturer after purchasing its biggest rival, Denmark’s fiber cement major, Cembrit. With this purchase, Swisspearl Group could strengthen its global reach and find new target markets.

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Segmentation Analysis of Fiber Cement Market

Fiber Cement Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

By Material

-Cellulosic Material

-Portland Cement

-Sand

• Of these, Portland Cement has the major potential to accelerate the growth of the market.

By Application

-Cladding

-Roofing

-Siding

-Molding & Trimming

-Backer Boards

-Wall Partition

-Others

By End-Users

-Residential

-Non-Residential

By Fiber Type

-Polypropylene

-PVA

-Lignocellulose

-Carbon

-Others

By Production Process

-Hatschek Process

-Extrusion Process

-Perlite Process

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A Comprehensive Geographical Analysis:

By Region

-North America

-Europe

-Asia-Pacific

-South America

-Middle East & Africa

• Geographically, of all regions, Asia-Pacific holds the largest share of the Fiber Cement Market

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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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