Fiber Cement Board Market

Fiber Cement Board Market Overview

The fiber cement board market is anticipated to record a CAGR of 4.3% during the forecast period. It is expected the market value could go up from US$ 10 Bn in 2021 to reach a valuation of US$ 27 Bn by 2032.

Fiber cement boards are used in commercial, industrial and residential buildings mostly for covering the exteriors of the buildings.

Fiber cement board is made up of plant extract cellulose, sand, and cement where cement fits as an extremely hard material that makes it a quite affordable alternative for the real estate business.

The construction sector has been the prominent end user of the fiber cement board market for a very long time. Rising population in cities due to migration and urbanization, construction projects have increased tremendously across various regions of the world.

Spending on creating planned cities and better living conditions has been a priority that is driving the sales of fiber cement board more in all the countries simultaneously.

Government initiatives across the lower and middle-income countries to provide affordable housing to a large section of the society are expected to create a huge demand for fiber cement boards during the forecast years.

Moreover, renovation activities carried out in all the major higher-income regions are anticipated to further boost the sales of fiber cement boards in these regions as well. The fiber cement board market share contributed by developed regions is predicted to drive the global market in the coming days.

What are the Trending Opportunities for the Fiber Cement Board Market in the Coming Years?

The demand for fiber cement board is prominently in the construction industry for applications such as flooring, siding, and roofing, among others. Growth in the construction industry is expected to drive the sales of fiber cement boards extensively in the future.

Increasing construction activities in large cities because of increasing demand for new housing as well as refurbishment of old constructions is also expected to increase the demand for fiber cement board in the coming years.

The construction industry extensively uses fiber cement board in residential and industrial development for applications such as flooring, ceiling, roofing, and tile backing, among other applications. So growth in the real estate and construction industry is poised to indirectly supplement the sales of fiber cement board in the forecasted years.

Fiber cement board is water-resistant. They are also more resistant to mold and mildew and do not disintegrate or break down due to continuous exposure to moisture.

Fiber cement is made up of more than 90 percent of non-flammable material; hence it is not flammable, which makes it safe for use in various applications. Such numerous advantages are predicted to be the major driving factor for the growing demand for fiber cement boards in the global market.

Fiber cement board is an expensive construction material and costs more when compared to alternatives such as Vinyl boards for installation. Alternatives such as vinyl boards are more energy-efficient and also require less maintenance. Such factors are expected to impact the growth in demand for fiber cement boards in the future.

Which is the Leading Region in the Fiber Cement Board Market?

North America and Europe are expected to be front runners in the sales of fiber cement boards. Countries such as the U.K., Germany, North America, and Spain, among others, are expected to be prominent countries in the fiber cement board market owing to high construction spending in these countries.

Increasing commercial construction activities are also expected to contribute to the growth of the fiber cement board market share in North America. Fiber cement board also holds an aesthetic advantage as it resembles wood planks or wood shingles which makes the demand for fiber cement board in the architecture sector also. Moreover, the sales of fiber cement boards are more eco-friendly options for residential applications.

Increasing construction activities in regions such as Asia Pacific, Latin America, and some countries of MEA due to urbanization is expected to drive the demand for fiber cement board in the global market.

The rapidly growing population in countries such as China, India, and Indonesia is expected to increase the sales of fiber cement boards and better housing conditions, which is expected to drive the construction industry in the Asia Pacific region. And this, in turn, is expected to drive the demand for fiber cement boards in the coming years.

Regions such as North America and Europe are expected to hold stable and prominent shares in the global fiber cement board market. The Middle East & Africa, and Latin America regions are expected to provide new opportunities for the sales of fiber cement board in the regional market.

Nikhil Kaitwade

Principal Consultant

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Who are the Key Players in the Fiber Cement Board Market?

Some of the key players in the global fiber cement board market includes James Hardie Industries PLC, Etex Group NV, Cembrit, Mahaphant Fibre Cement Co., Ltd., Elementia, S.A.B de C.V., Everest Industries, Saint-Gobain, Hume Cemboard Industries, Nichiha Corporation, and Soben board Everest among others.

Major Developments in the Fiber Cement Board Market

• James Hardie Building Products Inc. upgraded its Dream Collection fiber cement in January 2020 by introducing 700 ColourPlus Technology finishes. It is expected to expand the portfolio of the company and augment its fiber cement board market share in coming days.
• A new through-coloured cladding board by the name of Cembrit Patina was in traduced in June 2019 by Cembrit Holding AS. This new rough fiber cement cladding with a sunblasted surface imparts an attractive stone effect finish that is predicted to increase the sales of fiber cement boards in the market.

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