Market Research Report
Fiber Cement Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||568588|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Fiber Cement Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: June 1, 2019||Content info: 110 Pages||
The market for fiber cement is expected to grow at a CAGR of more than 5% during the forecast period of 2019 - 2024. One of the major factors which are driving the market is the increasing demand for energy efficient buildings. However, the threat of substitutes like vinyl & wood siding is expected to hinder the growth of the market studied.
Increasing Sliding Application
Europe Region to Dominate the Market
Europe region dominated the global market share in 2018. Germany is the largest economy in Europe, and the fifth largest, globally. The public consumption rate has increased by 0.5%, which is expected to drive the growth. Germany has the largest construction industry in Europe. The construction sector in Germany accounts for nearly 3.3% of the GDP. In 2018, Germany spent almost 10% of its annual GDP (around EUR 298 billion) into construction projects. The residential construction segment is expected to have a moderately high growth. According to The Federal Statistics Office, permits were issued for 72,335 new residential buildings and approval was given for 12,454 existing buildings. The construction market in the region has been growing slowly, mainly driven by the increasing new residential construction activities. It is also expected that, various developed countries in EU would spend more on the public infrastructure, and there would be an increase in investments through public-private partnerships at municipal level. These factors are estimated to boost the demand for fiber cement in Germany, during the forecast period.
The global fiber cement market is fragmented with major companies including Toray Industries Inc., Zykron, James Hardie Building Products Inc., Plycem, and Etex Group.