REPORT HIGHLIGHT
Fiber cement board market size was valued at USD 9,407.8 Million in 2022, expanding at a CAGR of 5.5% from 2023 to 2030.
Fiber cement is a composite building material that is utilized in construction, and it is also known as reinforced fiber cement. Additionally, it is commonly composed of cellulosic material, Portland cement, and fine silica (sand). In the construction of commercial and residential buildings panels, siding, and boards are extensively used owing to their fire and impact-resistant properties. Moreover, they are also required for ceilings, wall cladding, decorative applications, and partition walls. Furthermore, fiber cement boards are used in shopping malls, corridors, hotel lobbies, tunnels, and residential buildings, while fiber cement decorative cladding is commonly used for rain screen applications.
Fiber Cement Board Market- Market Dynamics:
- Increased Usage as an Asbestos's Alternative and Rising Investment
- With the restrictions on the use of asbestos products due to its well-known health and safety hazard, manufacturers have turned their attention to fiber cement market products as an alternative. Additionally, fiber cement outperforms asbestos, when it comes to environmental friendliness. It is the major reason for fiber cement's popularity. Fiber cement uses recycled material, has fewer resources, and requires less water as compared to regular cement. This in turn, the ban on asbestos products has significantly driven the likelihood of growth in the fiber cement board market. However, fiber cement board is an expensive construction material, and a dearth of skilled labor or the presence of an inefficient labor force will likely create restrictions on the growth of the market. Moreover, the easy availability of raw materials for infrastructure development and rising construction activities is propelling the market demand. The rapidly increasing industrialization, higher living standards, and rising disposable incomes of individuals will further propel the growth rate of the fiber cement board market.
Fiber Cement Board Market- Key Insights:
- As per the analysis shared by our research analyst, the global fiber cement board market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2023-2030)
- The fiber cement board industry is projected to grow at a significant rate due to the rising construction in residential and industrial area
- Based on product type segmentation, high-density was predicted to show maximum market share in the year 2022
- Based on application segmentation, wall cladding & panels was the leading type in the near future
- On the basis of region, Asia Pacific was the leading revenue generator in 2022
Fiber Cement Board Market- Segmentation Analysis:
- The global fiber cement board market is segmented on the basis of product type, application, end use, and region.
- The market is divided into three categories based on product type: low-density, medium-density, and high-density. The high-density segment is likely to hold the largest market share. It is a composite based on cement made with cellulose fibers and other components. Over traditional building materials like wood or gypsum boards, HDFCB (high-density fiber cement board) offers various advantages such as durability, superior strength, and resilience to damage from water, termites, and fire.
- The market is divided into four categories based on application: pre-fabricated shelters, flooring, furniture, wall cladding & panels, and others. The wall cladding & panels segment is expected to maintain its dominance in the market over the forecast period. This segment protects against temperature variations and UV radiation. Moreover, remodeling projects, rising urbanization, and infrastructural development are attributed to the increase in the use of fiber cement boards in wall cladding and panels.
- The market is divided into three categories based on end use: residential, industrial, and commercial. The residential segment is likely to dominate the largest revenue share. For residential applications, the sales of fiber cement board is more eco-friendly. The in residential development construction industry largely uses fiber cement board for ceiling, tile backing, roofing, and flooring. Additionally, the rising demand for refurbishment and new housing of old construction is likely to increase segment growth.
Fiber Cement Board Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Fiber Cement Board Market- Competitive Landscape:
Various regional and global market players are operating in the market. Additionally, factors such as penetration of the product in various application areas such as wall cladding & panels, flooring, and furniture, as well as product consumption, the intensity of rivalry, and the presence of well-established manufacturers govern the competitive nature of the market. Moreover, with the presence of various key players, the market is highly fragmented. Collaboration, mergers & acquisitions, and new product launches are a few strategies market players are adapting to increase product portfolio along with global presence.
Recent Developments:
For instance, in June 2022, Swisspearl Group announced it was acquiring Denmark's Cembrit for an undisclosed sum, saying it was creating the second-largest fiber cement producer in Europe.
Key features of the study:
- This proposed research study on fiber cement board market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
- The report provides the client the latest up-to-date and trending insights about the fiber cement board market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for fiber cement board market.
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the fiber cement board market.
- Impact of COVID-19 on fiber cement board market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on fiber cement board market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the fiber cement board market, we have also included competitive landscape and key innovator analysis for the fiber cement board market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants who will help users to understand their financial information and strategic initiatives of players operating in the fiber cement board market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global fiber cement board market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL FIBER CEMENT BOARD MARKET KEY PLAYERS
- SCG
- CSR Limited
- Toray Industries Inc.
- Etex Group
- James Hardie Europe GmbH
- Soben International
- Everest Industries Ltd
- Allura
- American Fiber Cement Corporation
- Toray Industries Inc.
- Cembrit Holding A/S
- Biele Group
- NICHIHA
GLOBALFIBER CEMENT BOARD MARKET, BY PRODUCT TYPE
- Low-density
- Medium-density
- High-density
GLOBAL FIBER CEMENT BOARD MARKET, BY APPLICATION
- Pre-fabricated Shelters
- Flooring
- Furniture
- Wall Cladding & Panels
- Others
GLOBAL FIBER CEMENT BOARD MARKET, BY END USE
- Residential
- Industrial
- Commercial
GLOBAL FIBER CEMENT BOARD MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA