Fiber Cement Market

Fiber Cement Market - Global Industry Analysis 2015 - 2019 and Opportunity Assessment; 2020 - 2030

Market Overview

Fiber cement is one of the most commonly used and highly essential composite materials, and with its superior physical properties such as high strength and durability, it also finds applications in the production of façade and roofing products. By chemically reacting with water, cement forms a hard stone, and through the reinforcement of fiber in the mixture, the cement stone provides better properties such as strength and longevity, to building & construction materials.

The modern construction industry across the world is discovering the unique and innovative advantages of using fiber cement in various construction applications such as cladding and roofing. The primary function of fiber cement in such industrial applications is to improve performance characteristics while reducing the commercial value of building & construction materials.

With the growing applications of fiber cement in the modern construction operations, owing to its unique features and properties, the growth of the fiber cement market is expected to maintain a positive momentum in the coming years.

Superior Performance Benefits over Conventional Cement Materials will Uphold the Growth

Being an integral part of the building & construction materials industry, fiber cement is primarily used in both interior and exterior applications such as siding, roofing, cladding, and molding and trimming. The building & construction materials utilised in interior and exterior applications require specific chemical and physical properties to withstand the potentially adverse impacts of several factors such as weather, temperature, and humidity.

An important reason why fiber cement is witnessing immense demand is its performance characteristics over traditional cement, such as the ability to resist harsh weather conditions, resistance to warping and sagging, low maintenance requirements, humidity resistance, and fireproof properties. Such unique and favourable attributes of fiber cement are pushing stakeholders in the construction industry to replace traditional building & construction materials such as wood and vinyl, with fiber cement, and this is expected to continue to create lucrative sales opportunities for players in the global fiber cement market.

Popularity of Low-cost Asbestos-based Products may Take up Market Share of Fiber Cement

While most of the developed economies are shifting to fiber cement for its superior performance attributes as well as for its positive impacts on the environment, in some developing economies including Brazil and India, the demand for asbestos-based construction materials is significantly high. Owing to its low cost and worldwide availability, building & construction materials manufactured using asbestos are being preferred by end users in the construction sectors in developing economies,

Leading players in the fiber cement market will have to concentrate their efforts on improving the end users awareness about the health hazards as well as environmental impacts of asbestos-based construction materials in order to drive a shift towards safer and superior fiber cement, Furthermore, fiber cement is also losing share to less expensive alternatives to asbestos-free fiber cement, and this will trigger the wave of innovation across the fiber cement market to capture this market share in developing countries.

Fiber Cement Market: Region-wise Analysis

Based on the geographical factors, the fiber cement market is broadly divided into seven regions - North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. Increasing growth of the construction industry in Asia Pacific will continue to play an important role in the growth of the fiber cement market in the regions. Especially in Southeast Asia, the residential sector is expected to gain momentum in the coming years. Governing bodies in the region are also creative favourable policy structure to boost the development of infrastructures in developing countries, which will further contribute to the growing demand for fiber cement in the flourishing construction industry across emerging Asian economies,

China and India are witnessing huge foreign investments across residential as well as non-residential sectors, and this will create new opportunities for stakeholders in the fiber cement market in both residential and commercial construction landscapes. In addition, customers in the region are realising the potential hazards of using asbestos cement as a building & construction material, and regulatory bodies are encouraging end users to resort to the more reliable and nature-friendly alternatives. This is driving a shift from traditional cement to fiber cement across the region.

Europe is also emerging as a profitable market for stakeholders in the global fiber cement market, as the construction sector across its leading economies - including Germany - is taking shape. Nearly 10% of Germany’s annual GDP is being spent on construction projects, and the residential construction spaces are in the boom across the country. Recently, The Federal Statistics Office announced it has issued permits for more than 72,000  new residential buildings and nearly 12,500 existing buildings. This is expected to boost the public-private partnerships in Germany’s construction sector, and ultimately, open doors of new lucrative opportunities for leading players in Europe’s fiber cement market, in the coming years.

Fiber Cement Market: Competitive Landscape

The global market for fiber cement is highly fragmented in nature, as the number of manufacturers and other stakeholders is rapidly growing in this landscape. The major players in the fiber cement market include

  • Dow Chemical Company
  • Hardie (James) Industries plc
  • Imerys SA
  • Elementia SA de CV
  • Building Materials Corporation of America
  • PPG Industries Incorporated
  • Akzo Nobel NV
  • Canfor Corporation
  • Ecolab Incorporated
  • Central Fiber LLC
  • Mercer International Incorporated
  • US Silica Holdings Incorporated

In August 2019, Everest Industries Limited - a leading stakeholder involved in trading and manufacturing of building and construction materials such as boards and panels, roofing products, and other building products and accessories - announced that it is expanding its production portfolio by incorporating international standards with fiber cement boards. The company also announced that it offers advanced dry construction products that combine materials such as steel, timber, and aluminum, which can also be used in interior as well as exterior applications.

In January 2020, Imerys S.A. - a French multinational company which specialises in the production and processing of industrial minerals - announced that it will be acquiring Hyderabad Industries Limited (HIL) - a group company of CK Birla Group that is involved in construction materials, industrial supplies and components, and machinery. The definitive agreement was signed between HIL and Imerys’ wholly-owned Indian subsidiary - Calderys India Refractories

Region-wise Analysis

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
  • East Asia (China, Japan, South Korea)
  • South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
  • Oceania (Australia, New Zealand)
  • Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

Report Highlights

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

Fiber Cement Market: Segment Analysis

The ferrite market can be segmented on the basis of the following:

By Raw Materials

  • Silica
  • Portland Cement
  • Cellulosic Fiber
  • Others

By End User

  • Residential
  • Non-residential

By Application

  • Cladding
  • Siding
  • Backer Boards
  • Molding and Trimming
  • Roofing
  • Wall Partitions
  • Others

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