Fiber Cement Board Market Will Reach Nearly USD 22.21 Billion By 2030, Expanding at a CAGR of 4.83%
The global fiber cement board market size was USD 14.5 Billion in 2021 and is expected to register a revenue CAGR of 4.83% during the forecast period. Major factors driving market revenue growth include rising demand for environment-friendly and sustainable construction products, advantages of fiber cement boards over their alternatives, and increasing government regulations on use of asbestos. The Fiber Cement Board (FCB) is a building material that has been used in construction activities by mixing cement with various organic or mineral fibers at specified ratios. The addition of fiber to cement imparts several attributes, such as resistance to cracking, lightweight, and improved flexibility. Furthermore, addition of the product also ensures production of good quality and long-lasting furniture with high resistance to water, fire, and termites.
Some key application areas for fiber cement board include sidings, flooring, ceilings, roofing materials, soffit and trims, and as a tile backing board. The product is being increasingly adopted for siding applications in bathrooms and kitchens, owing to properties, such as superior durability and water resistance, as well as for its waterproof nature. Increasing spending on construction, particularly for new housing, is expected to drive product demand. Product adoption has increased in prime end-use industries, such as residential, commercial, and others in recent times. Rapid growth of the residential sector is a major driver for the global fiber cement board market, and favorable government policies and increasing awareness about environmental degradation are expected to drive market revenue growth over the forecast period.
Growing awareness about sustainable development and increasing construction of green buildings are also likely to support revenue growth of the market. It is created from recycled resources, such as cellulose fibers, sand, and cement, which helps to protect human health and the environment. Asbestos-free and non-toxic components are used in this product, and it can simulate the appearance of wood siding, clapboard, and shingles with design versatility, along with keeping the cost down. However, lack of skilled workers required for installation and utilization of fiber board is expected to hinder market revenue growth to some extent.
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Further key findings from the report suggest
- Fibre Cement Board Market has a rising demand for the end-use application for the commercial and non-commercial markets. Rising awareness regarding energy-efficient constructions, the need for renovation of old buildings, increasing over-cladding activities, and government regulations for green buildings are expected to propel the demand over the forecast period.
- The sand material segment is forecasted to lead the global Fibre cement board market during the forecast period. The addition of sand as material increases the binding properties of the cement. Tests have shown that the strength of cement mortar increases with increasing sand content. The segment registered the fastest growth in 2019
- The residential end-use segment is the fastest-growing segment, registering a CAGR of 5.32% owing to the rising residential construction activities to meet the requirements for the rising population.
- In the application segment, the siding is accounted for the largest market share in the fiber cement board market. The chief driver for this segment is the major use of sidings to cover the exterior of a building in both commercial and domestic applications and the advantage of easy installation of fiber cement boards.
- Key Industry players such as James Hardie are increasingly providing the fibre cement boards in various building, construction, and infrastructure projects.
- High costs of installation and setup are one of the important factors hindering global fiber cement board market growth.
- Key participants include James Hardie Industries Plc, Etex Group NV, Everest Industries Ltd., Hume Cemboard Industries Sdn Bhd, Cembrit Holding A/S, Soben International Ltd., NICHIHA Co. Ltd, Mahapant Fibre Cement Co. Ltd., WB Construction Services Inc., Penny Panel, GAF Materials LLC, Elementia SAB de CV, and TPI Polene Public Company Ltd.
For the purpose of this report, Reports and Data have segmented the report on the basis of material, product, production process, application, end-use, and region:
Material (Revenue, USD Million; Volume in Million Sq. Ft., 2019–2030)
- Sand
- Portland Cement
- Cellulosic Material
- Others
Product (Revenue, USD Million; Volume in Million Sq. Ft., 2019–2030)
- High-Density Board
- Medium Density Board
- Low-Density Board
Production Process (Revenue, USD Million; Volume in Million Sq. Ft., 2019–2030)
- Hatschek Process
- Extrusion Process
- Pertile Process
Application (Revenue, USD Million; Volume in Million Sq. Ft., 2019–2030)
- Siding
- Shingle Siding
- Sheet Form Siding
- Lap Siding
- Stucco or Brick Siding
- Roofing
- Molding & Trim
- Trim Wall
- Flooring
- Curtain Walls
- Others
End-Use (Revenue, USD Million; Volume in Million Sq. Ft., 2019–2030)
- Commercial
- Exterior
- Interior
- Residential
- Exterior
- Interior
Regional Outlook (Revenue in USD Million; Volume in Million Sq. Ft., 2019–2030)
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Spain
- Italy
- Poland
- Russia
- Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Thailand
- Indonesia
- Philippines
- Malaysia
- Taiwan
- New Zealand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- U.A.E
- Israel
- Jordan
- Qatar
- South Africa
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Venezuela
- Peru
- Columbia
- Equador
- Costa Rica
- Rest of LATAM
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Fibre Cement Board Market: https://www.globenewswire.com/news-release/2020/03/03/1994652/0/en/Fiber-Cement-Board-Market-To-Reach-USD-19-89-Billion-By-2027-Reports-And-Data.html
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