Fiber Cement Market Growth Outlook Through 2024-2033

Overview and Scope
Fiber cement refers to a type of composite of sand, portland concrete, and sustainable cellulose filaments that enhances the structural integrity of concrete by improving its overall strength, is made from reinforced cement, is used in homes and other commercial buildings, comes pre-painted or can be painted in any color, and offers strong, long-lasting, and low-maintenance.

Sizing and Forecast
The fiber cement market size has grown strongly in recent years. It will grow from $16.3 billion in 2023 to $17.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to industrialization's impact, market penetration in developed regions, regulatory support and standards, construction boom, architectural evolution.

The fiber cement market size is expected to see strong growth in the next few years. It will grow to $21.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to cost-effectiveness and longevity, consumer awareness and preferences, weather resistance and durability, residential and commercial construction, government regulations and policies. Major trends in the forecast period include urbanization and infrastructure development, rising construction activities, shift towards sustainable building materials, weather resistance and durability, architectural trends and aesthetics.

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Segmentation & Regional Insights
The fiber cement market covered in this report is segmented –

1) By Raw Material: Cellulosic Fiber, Portland Cement, Silica
2) By Application: Siding, Roofing, Cladding, Molding and Trimming, Other Applications
3) By End User: Residential, Non-Residential

Asia-Pacific was the largest region in the fiber cement market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber cement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Increasing expenditure on construction is expected to propel the growth of the fiber cement market. With the increase in the construction industry, the use of high efficiency and sustainable fiber cement affixes to the exterior of both residential and commercial spaces due to its characteristics that include resistance to wear and tear to concrete along with benefiting the residential space has increased. For instance, according to the Office of National Statistics UK, the monthly construction output increased by 3.5% in volume in November 2021. Also, according to Invest India, an India-based national investment promotion and facilitation agency, the construction industry in India is expected to reach $1.4 trillion by 2025. Therefore, increasing expenditure on construction is driving the growth of the fiber cement market.

Key Industry Players
Major companies operating in the fiber cement market report are Wellpool Corporation, SCG Building Materials, Everest Industries Limited, James Hardie Industries PLC, Shandong Shanshui Cement Group Ltd., CSR Limited, Plycem USA Inc., GAF Materials Corporation, Perlite Construction Co. Ltd., Elementia Materiales, Nichiha Corporation, Century Plyboards Ltd., Cembrit Holding A/S, Swisspearl Group AG, Visaka Industries Limited, Hume Cemboard Industries Sdn Bhd, Hekim Yapı A.Ş., Bison Manufacturing Limited, Taisyou International Business Co. Ltd., Allura, Etex Group, Mahaphan Fibre Cement Public Co. Ltd., Shera Public Company Limited, Alpha Roofing industries LLC, Aerocon Corporation, Soben International (Europe) Ltd., EQUITONE, American Fiber Cement Corporation, Hocreboard Building Materials Co. Ltd.

The fiber cement market report table of contents includes:

1. Executive Summary
2. Fiber Cement Market Characteristics
3. Fiber Cement Market Trends And Strategies
4. Fiber Cement Market - Macro Economic Scenario
5. Global Fiber Cement Market Size and Growth
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32. Global Fiber Cement Market Competitive Benchmarking
33. Global Fiber Cement Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Fiber Cement Market
35. Fiber Cement Market Future Outlook and Potential Analysis
36. Appendix

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