The fiber cement industry refers to the manufacturing and production of fiber cement, a composite material composed of cement, sand, and cellulose fibers. Fiber cement is known for its durability, strength, and resistance to fire, water, and pests. It is commonly used in the construction industry for various applications. The global fiber cement market size is projected to grow from USD 16.4 billion in 2020 to USD 20.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast year. The growth of this market is attributed to the increasing construction activities in the residential and non-residential sectors and government regulations pertaining to the use of asbestos.

Browse 131 market data tables and 35 figures spread through 127 pages and in-depth TOC on the “Fiber Cement Market by Material (Portland Cement, Application (Siding, Molding & Trim, Backer boards, Flooring, Roofing, Wall Partitions), End use (Residential, Non-residential) and Region – Global Forecast To 2025”  

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The end-use industry scope of fiber cement is quite extensive. Here are some key areas where fiber cement products find application:

1. Construction: Fiber cement is widely used in residential, commercial, and industrial construction. It is used for exterior siding, roofing, and cladding, as well as for interior wall panels, ceilings, and flooring. Fiber cement products offer versatility in design, as they can mimic the appearance of wood, stucco, or stone.
2. Residential Buildings: Fiber cement siding and roofing materials are popular choices for residential homes. They provide excellent protection against harsh weather conditions, require minimal maintenance, and offer a long lifespan.
3. Commercial Buildings: Fiber cement products are commonly used in commercial buildings, such as offices, retail stores, and hotels. They provide an attractive and durable exterior, contributing to the aesthetics and longevity of the structures.
4. Industrial Applications: Fiber cement is utilized in industrial settings for applications such as factory walls, warehouses, and storage facilities. Its resistance to fire and chemicals makes it a suitable choice for these demanding environments.
5. Infrastructural Projects: Fiber cement finds application in infrastructure projects, including bridges, tunnels, and transportation terminals. It offers durability and withstands environmental challenges, making it a reliable construction material for such projects.
6. Decorative and Architectural Features: Fiber cement panels and boards are often used for decorative purposes and architectural features, such as facades, cornices, columns, and trim elements. They provide a combination of aesthetic appeal and functionality.

Fiber Cement Market Key Players:

The fiber cement market has been dominated by large players, such as the Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Toray Industries Inc (Japan), CSR Limited (Australia), and Nichiha Corporation (Japan). These players have adopted various growth strategies, such as acquisitions, investments, and expansions, to increase their market shares and enhance their product portfolios.

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James Hardie’s strong global presence, coupled with the attractive portfolio of fiber cement, makes it a global player in the fiber cement market. Its expertise in fiber cement building materials, and significant investments in its plants and market development programs have contributed toward its significant position in the market. The adoption of strategic initiatives, e.g., acquisitions, has also contributed to the success of the company. For instance, the acquisition of Fermacell GmbH (Germany) enhanced its fiber cement business in the European market.

Non-residential is estimated to be the largest segment in the fiber cement market in 2019.

Non-residential, by end-use, accounted for the most significant demand for fiber cement in 2019, in terms of value and volume. This is primarily due to favorable and lenient lending policies initiated by governments across the world, which is driving the growth of non-residential construction projects. The residential construction spending is estimated to increase, particularly in emerging regions, including Asia Pacific and Latin America. Rapid urbanization is observed in these regions, resulting in a higher growth rate of the residential sector than that of developed regions.

The APAC region is projected to account for the largest share in the fiber cement market during the forecast period.

The APAC region is projected to lead the fiber cement market, in terms of both value and volume from 2020 to 2025. The countries in this region is expected to achieve high growth in the construction sector, and in turn, triggering a huge demand for fiber cement products. Growing construction sector, particularly in rapidly-growing countries such as China and India, huge foreign investments, and growing awareness about the ill-effects of using asbestos, drive the demand for fiber cement products.